Trillium Asset Management LLC Buys 43,497 Shares of Nextracker Inc. (NASDAQ:NXT)

Trillium Asset Management LLC boosted its stake in Nextracker Inc. (NASDAQ:NXT) by 51.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,313 shares of the company’s stock after purchasing an additional 43,497 shares during the quarter. Trillium Asset Management LLC owned about 0.09% of Nextracker worth $4,687,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Allworth Financial LP lifted its position in shares of Nextracker by 52.4% in the fourth quarter. Allworth Financial LP now owns 803 shares of the company’s stock worth $29,000 after buying an additional 276 shares in the last quarter. Quarry LP raised its holdings in shares of Nextracker by 61.5% during the 3rd 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. raised its holdings in shares of Nextracker by 41.8% during 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 in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Nextracker by 38.4% during the 4th 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 during the last quarter. Finally, Neo Ivy Capital Management purchased a new position in shares of Nextracker in the third quarter valued at $74,000. Institutional investors own 67.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NXT. Wells Fargo & Company lowered their price objective on shares of Nextracker from $70.00 to $69.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Northland Securities reiterated an “outperform” rating and issued a $55.00 price target (up previously from $48.00) on shares of Nextracker in a research report on Wednesday, January 29th. Jefferies Financial Group raised Nextracker from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $46.00 to $56.00 in a research note on Wednesday, January 29th. Piper Sandler lifted their target price on Nextracker from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. increased their price target on Nextracker from $58.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Three research 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 company’s stock. According to MarketBeat.com, Nextracker presently has an average rating of “Moderate Buy” and an average target price of $56.43.

Insiders Place Their Bets

In other news, CAO David P. Bennett sold 9,801 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $49.90, for a total value 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. The trade was a 7.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Howard Wenger sold 6,066 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $45.00, for a total value of $272,970.00. Following the sale, the president now directly owns 209,365 shares in the company, valued at approximately $9,421,425. The trade was a 2.82 % decrease in their position. 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 three months. Corporate insiders own 0.27% of the company’s stock.

Nextracker Stock Up 1.6 %

Shares of NASDAQ:NXT opened at $45.17 on Thursday. The business’s 50 day moving average is $44.89 and its 200 day moving average is $39.71. The stock has a market cap of $6.58 billion, a P/E ratio of 11.49 and a beta of 2.24. Nextracker Inc. has a 52-week low of $30.93 and a 52-week 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.

Nextracker (NASDAQ:NXT) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.89 earnings per share (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%. Sell-side analysts predict that Nextracker Inc. will post 3.29 EPS for the current 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.