Trillium Asset Management LLC Grows Stake in Nextracker Inc. (NASDAQ:NXT)

Trillium Asset Management LLC raised its holdings in shares of Nextracker Inc. (NASDAQ:NXT) by 51.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 128,313 shares of the company’s stock after purchasing an additional 43,497 shares during the period. Trillium Asset Management LLC’s holdings in Nextracker were worth $4,687,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP grew its stake in Nextracker by 52.4% during the 4th quarter. Allworth Financial LP now owns 803 shares of the company’s stock worth $29,000 after buying an additional 276 shares during the last quarter. Quarry LP boosted its holdings in Nextracker by 61.5% in the third quarter. Quarry LP now owns 1,119 shares of the company’s stock worth $42,000 after acquiring an additional 426 shares in the last quarter. Principal Securities Inc. grew its stake in shares of Nextracker by 41.8% during the fourth 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 holdings in shares of Nextracker by 38.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company’s stock valued at $68,000 after acquiring an additional 516 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new position in shares of Nextracker in the 3rd quarter valued at approximately $74,000. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Insider Activity at Nextracker

In other Nextracker news, President Howard Wenger sold 6,066 shares of the 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 of the company’s stock, valued at $9,421,425. This represents a 2.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bruce Ledesma sold 9,891 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $46.05, for a total value of $455,480.55. Following the completion of the transaction, the insider now directly owns 132,374 shares of the company’s stock, valued at approximately $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. In the last three months, insiders have sold 25,758 shares of company stock valued at $1,217,520. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on NXT. The Goldman Sachs Group boosted their target price on shares of Nextracker from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Truist Financial reissued a “buy” rating and issued a $56.00 target price (up from $54.00) on shares of Nextracker in a research report on Wednesday, January 29th. Citigroup dropped their price target on Nextracker from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. 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, Guggenheim lifted their target price on Nextracker from $50.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Nextracker currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.43.

Nextracker Trading Up 1.6 %

Shares of NXT stock opened at $45.17 on Thursday. Nextracker Inc. has a 1-year low of $30.93 and a 1-year high of $62.31. The company has a market cap of $6.58 billion, a price-to-earnings ratio of 11.49 and a beta of 2.24. 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 stock has a 50 day simple moving average of $44.89 and a 200-day simple moving average of $39.71.

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