Robeco Schweiz AG Invests $22.11 Million in Nextracker Inc. (NASDAQ:NXT)

Robeco Schweiz AG bought a new stake in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 605,300 shares of the company's stock, valued at approximately $22,112,000. Robeco Schweiz AG owned about 0.42% of Nextracker as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in NXT. Los Angeles Capital Management LLC acquired a new stake in Nextracker in the fourth quarter worth $203,000. IFP Advisors Inc lifted its holdings in Nextracker by 516.4% during the fourth quarter. IFP Advisors Inc now owns 3,304 shares of the company's stock worth $121,000 after acquiring an additional 2,768 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Nextracker in the fourth quarter valued at about $177,000. Cypress Capital LLC acquired a new position in Nextracker in the fourth quarter valued at about $964,000. Finally, Handelsbanken Fonder AB increased its holdings in shares of Nextracker by 36.0% in the fourth quarter. Handelsbanken Fonder AB now owns 2,278,217 shares of the company's stock worth $83,223,000 after acquiring an additional 602,600 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Nextracker

In other news, CAO David P. Bennett sold 9,801 shares of Nextracker stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $49.90, for a total transaction of $489,069.90. Following the completion of the sale, the chief accounting officer now owns 124,577 shares of the company's stock, valued at approximately $6,216,392.30. This trade represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Howard Wenger sold 6,066 shares of the business's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $45.00, for a total transaction of $272,970.00. Following the completion of the sale, the president now directly owns 209,365 shares of the company's stock, valued at approximately $9,421,425. The trade was a 2.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,758 shares of company stock worth $1,217,520 over the last ninety days. Insiders own 0.27% of the company's stock.

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Nextracker Stock Performance

Shares of NXT stock traded down $1.00 on Friday, reaching $44.02. The stock had a trading volume of 3,698,429 shares, compared to its average volume of 2,988,556. Nextracker Inc. has a 12 month low of $30.93 and a 12 month high of $62.31. The firm has a market capitalization of $6.41 billion, a price-to-earnings ratio of 11.20 and a beta of 2.14. The firm's 50-day moving average is $43.53 and its two-hundred day moving average is $39.39. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.10.

Nextracker (NASDAQ:NXT - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.31. Nextracker had a return on equity of 41.22% and a net margin of 20.12%. On average, research analysts expect that Nextracker Inc. will post 3.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NXT. Bank of America decreased their price objective on Nextracker from $65.00 to $52.00 and set a "buy" rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective on shares of Nextracker from $58.00 to $61.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. The Goldman Sachs Group raised their price objective on shares of Nextracker from $54.00 to $61.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Susquehanna increased their target price on Nextracker from $50.00 to $54.00 and gave the stock a "positive" rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company cut their price target on Nextracker from $70.00 to $69.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Nextracker has a consensus rating of "Moderate Buy" and a consensus target price of $56.50.

Nextracker Profile

Nextracker Inc, an energy solutions company, provides solar tracker and software solutions for utility-scale and distributed generation solar projects in the United States and internationally. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.