Venturi Wealth Management LLC Has $116,000 Stock Position in Nextracker Inc. (NASDAQ:NXT)

Venturi Wealth Management LLC boosted its holdings in shares of Nextracker Inc. (NASDAQ:NXT) by 3,781.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,183 shares of the company’s stock after buying an additional 3,101 shares during the period. Venturi Wealth Management LLC’s holdings in Nextracker were worth $116,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of NXT. Geode Capital Management LLC increased its position in Nextracker by 23.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,593,938 shares of the company’s stock worth $134,724,000 after purchasing an additional 679,272 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Nextracker by 33.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,226,862 shares of the company’s stock worth $45,983,000 after purchasing an additional 307,956 shares during the last quarter. Van ECK Associates Corp increased its position in Nextracker by 30.7% in the 3rd quarter. Van ECK Associates Corp now owns 60,613 shares of the company’s stock worth $2,272,000 after purchasing an additional 14,249 shares during the last quarter. Nordea Investment Management AB acquired a new position in Nextracker in the 4th quarter worth about $5,734,000. Finally, Proactive Wealth Strategies LLC acquired a new position in Nextracker in the 3rd quarter worth about $1,324,000. 67.41% of the stock is owned by institutional investors and hedge funds.

Nextracker Price Performance

Shares of NXT stock opened at $46.12 on Friday. The stock has a 50 day moving average of $42.44 and a two-hundred day moving average of $39.17. The company has a current ratio of 2.20, a quick ratio of 1.96 and a debt-to-equity ratio of 0.10. Nextracker Inc. has a 12 month low of $30.93 and a 12 month high of $62.31. The company has a market capitalization of $6.72 billion, a P/E ratio of 11.74 and a beta of 2.14.

Nextracker (NASDAQ:NXT) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.89 EPS for the quarter, topping 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%. As a group, equities analysts expect that Nextracker Inc. will post 3.29 EPS for the current year.

Analysts Set New Price Targets

NXT has been the topic of several research reports. Citigroup dropped their target price on Nextracker from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. BNP Paribas raised Nextracker to a “strong-buy” rating in a report on Wednesday, January 29th. Barclays raised Nextracker from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $47.00 to $60.00 in a report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price objective on Nextracker from $58.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Robert W. Baird lowered their price objective on Nextracker from $71.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Nextracker presently has an average rating of “Moderate Buy” and an average price target of $56.50.

Insiders Place Their Bets

In related news, President Howard Wenger sold 6,066 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $45.00, for a total transaction of $272,970.00. Following the completion of the transaction, the president now owns 209,365 shares in the company, valued at $9,421,425. This trade represents a 2.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bruce Ledesma sold 9,891 shares of the firm’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 value of $455,480.55. Following the transaction, the insider now owns 132,374 shares of the company’s stock, valued at $6,095,822.70. This trade represents a 6.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,758 shares of company stock worth $1,217,520. 0.27% of the stock is currently owned by company insiders.

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.