Nextracker Inc. (NASDAQ:NXT) Shares Bought by Trillium Asset Management LLC

Trillium Asset Management LLC lifted its holdings in Nextracker Inc. (NASDAQ:NXT - Free Report) by 51.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 128,313 shares of the company's stock after acquiring an additional 43,497 shares during the period. Trillium Asset Management LLC owned approximately 0.09% of Nextracker worth $4,687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Allworth Financial LP lifted its holdings in Nextracker by 52.4% during the fourth quarter. Allworth Financial LP now owns 803 shares of the company's stock worth $29,000 after acquiring an additional 276 shares during the period. Quarry LP grew its stake in Nextracker by 61.5% during the third quarter. Quarry LP now owns 1,119 shares of the company's stock valued at $42,000 after acquiring an additional 426 shares in the last quarter. Principal Securities Inc. increased its stake in Nextracker by 41.8% in the 4th quarter. Principal Securities Inc. now owns 1,390 shares of the company's stock worth $51,000 after acquiring an additional 410 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Nextracker by 38.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company's stock worth $68,000 after purchasing an additional 516 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of Nextracker during the 3rd quarter valued at $74,000. 67.41% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several brokerages have weighed in on NXT. Jefferies Financial Group upgraded Nextracker from a "hold" rating to a "buy" rating and boosted their price objective for the company from $46.00 to $56.00 in a research report on Wednesday, January 29th. 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 research note on Wednesday, January 8th. Northland Securities reaffirmed an "outperform" rating and issued a $55.00 target price (up from $48.00) on shares of Nextracker in a report on Wednesday, January 29th. Guggenheim boosted their target price on Nextracker from $50.00 to $62.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Finally, Barclays upgraded Nextracker from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $47.00 to $60.00 in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Nextracker presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.43.

Insider Transactions at Nextracker

In other Nextracker news, insider Bruce Ledesma sold 9,891 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $46.05, for a total transaction of $455,480.55. Following the sale, the insider now owns 132,374 shares of the company's stock, valued at approximately $6,095,822.70. The trade was a 6.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO David P. Bennett sold 9,801 shares of the firm's 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 transaction, the chief accounting officer now directly owns 124,577 shares of the company's stock, valued at approximately $6,216,392.30. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,758 shares of company stock valued at $1,217,520 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Nextracker Stock Up 2.1 %

Shares of NASDAQ NXT traded up $0.93 during mid-day trading on Monday, reaching $45.20. 1,494,262 shares of the company were exchanged, compared to its average volume of 3,038,231. The firm has a 50-day moving average of $45.00 and a 200 day moving average of $39.80. Nextracker Inc. has a 1 year low of $30.93 and a 1 year high of $62.31. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.10. The stock has a market cap of $6.58 billion, a price-to-earnings ratio of 11.50 and a beta of 2.24.

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

Nextracker Company 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.