Vanguard Group Inc. Has $505.72 Million Stake in Nextracker Inc. (NASDAQ:NXT)

Vanguard Group Inc. lifted its position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,843,997 shares of the company's stock after acquiring an additional 243,635 shares during the period. Vanguard Group Inc. owned 9.51% of Nextracker worth $505,721,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of NXT. Holocene Advisors LP acquired a new stake in shares of Nextracker in the third quarter valued at approximately $45,416,000. State Street Corp grew its holdings in Nextracker by 15.8% in the 3rd quarter. State Street Corp now owns 5,070,473 shares of the company's stock worth $190,041,000 after buying an additional 690,343 shares in the last quarter. Wellington Management Group LLP increased its position in Nextracker by 25.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,392,992 shares of the company's stock valued at $127,169,000 after acquiring an additional 688,810 shares during the period. Geode Capital Management LLC raised its stake in Nextracker by 23.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,593,938 shares of the company's stock valued at $134,724,000 after acquiring an additional 679,272 shares in the last quarter. Finally, Robeco Schweiz AG bought a new stake in Nextracker during the 4th quarter valued at $22,112,000. Institutional investors and hedge funds own 67.41% of the company's stock.

Nextracker Stock Down 7.2 %

Nextracker stock traded down $3.14 during mid-day trading on Thursday, hitting $40.40. The company's stock had a trading volume of 2,305,379 shares, compared to its average volume of 3,070,042. Nextracker Inc. has a 52-week low of $30.93 and a 52-week high of $62.31. The company has a market cap of $5.88 billion, a PE ratio of 10.28 and a beta of 2.02. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.20 and a quick ratio of 1.96. The firm's 50 day moving average is $45.11 and its 200 day moving average is $40.24.

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Nextracker (NASDAQ:NXT - Get Free Report) last posted its quarterly earnings results 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, analysts anticipate that Nextracker Inc. will post 3.29 earnings per share for the current year.

Insider Activity

In other Nextracker news, President Howard Wenger sold 6,066 shares of Nextracker stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $45.00, for a total value of $272,970.00. Following the completion of the sale, the president now directly owns 209,365 shares in the company, valued at $9,421,425. The trade was a 2.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bruce Ledesma sold 9,891 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $46.05, for a total transaction of $455,480.55. Following the completion of the sale, the insider now directly owns 132,374 shares of the company's stock, valued at $6,095,822.70. This represents a 6.95 % decrease in their ownership of the stock. 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 in the last ninety days. Corporate insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

NXT has been the topic of a number of research analyst reports. Citigroup lowered their price target on Nextracker from $50.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. BMO Capital Markets boosted their price target on shares of Nextracker from $48.00 to $50.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 29th. Susquehanna upped their price target on shares of Nextracker from $50.00 to $54.00 and gave the stock a "positive" rating in a research note on Wednesday, January 29th. Guggenheim raised their price objective on shares of Nextracker from $50.00 to $62.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. Finally, Northland Securities restated an "outperform" rating and issued a $55.00 target price (up from $48.00) on shares of Nextracker in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $56.14.

About Nextracker

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.