Nextracker Inc. (NASDAQ:NXT) Holdings Raised by Venturi Wealth Management LLC

Venturi Wealth Management LLC grew its position in Nextracker Inc. (NASDAQ:NXT) by 3,781.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,183 shares of the company’s stock after acquiring an additional 3,101 shares during the quarter. Venturi Wealth Management LLC’s holdings in Nextracker were worth $116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in NXT. Holocene Advisors LP bought a new stake in shares of Nextracker in the 3rd quarter valued at approximately $45,416,000. Erste Asset Management GmbH bought a new stake in shares of Nextracker in the 3rd quarter valued at approximately $33,545,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Nextracker by 88.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591,975 shares of the company’s stock worth $59,667,000 after buying an additional 745,665 shares during the last quarter. State Street Corp grew its stake in Nextracker by 15.8% during 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 during the last quarter. Finally, Wellington Management Group LLP grew its stake in Nextracker by 25.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,392,992 shares of the company’s stock worth $127,169,000 after buying an additional 688,810 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NXT. Guggenheim upped their price objective on Nextracker from $50.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. upped their price objective on Nextracker from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Barclays upgraded Nextracker from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $47.00 to $60.00 in a research note on Wednesday, January 29th. Susquehanna upped their price objective on Nextracker from $50.00 to $54.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company lowered their price objective on Nextracker from $70.00 to $69.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Nextracker has a consensus rating of “Moderate Buy” and an average target price of $56.50.

Insider Activity

In other news, President Howard Wenger sold 6,066 shares of the company’s stock in a transaction 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 sale, the president now directly 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 document filed with the SEC, which is available at the SEC website. Also, CAO David P. Bennett sold 9,801 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $49.90, for a total value of $489,069.90. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,758 shares of company stock valued at $1,217,520 over the last three months. Insiders own 0.27% of the company’s stock.

Nextracker Trading Down 4.8 %

Shares of Nextracker stock opened at $46.12 on Friday. 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 firm has a market cap of $6.72 billion, a price-to-earnings ratio of 11.74 and a beta of 2.14. The business has a fifty day simple moving average of $42.44 and a 200-day simple moving average of $39.17. Nextracker Inc. has a fifty-two week low of $30.93 and a fifty-two week high of $62.31.

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

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.