Boston Partners Has $373,000 Stock Holdings in Nextracker Inc. (NASDAQ:NXT)

Boston Partners trimmed its stake in Nextracker Inc. (NASDAQ:NXT) by 74.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,214 shares of the company’s stock after selling 29,931 shares during the quarter. Boston Partners’ holdings in Nextracker were worth $373,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NXT. Allworth Financial LP raised its holdings in shares of Nextracker by 52.4% in the 4th quarter. Allworth Financial LP now owns 803 shares of the company’s stock valued at $29,000 after purchasing an additional 276 shares during the period. Quarry LP raised its stake in Nextracker by 61.5% in the third quarter. Quarry LP now owns 1,119 shares of the company’s stock valued at $42,000 after buying an additional 426 shares during the period. Principal Securities Inc. raised its stake in Nextracker by 41.8% in the fourth quarter. Principal Securities Inc. now owns 1,390 shares of the company’s stock valued at $51,000 after buying an additional 410 shares during the period. Nisa Investment Advisors LLC boosted its stake 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 worth $68,000 after acquiring an additional 516 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in shares of Nextracker during the 3rd quarter worth approximately $74,000. Institutional investors and hedge funds own 67.41% of the company’s stock.

Wall Street Analysts Forecast Growth

NXT has been the subject of several research reports. Northland Securities reaffirmed an “outperform” rating and set a $55.00 price target (up previously from $48.00) on shares of Nextracker in a report on Wednesday, January 29th. Susquehanna lifted their target price on shares of Nextracker from $50.00 to $54.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Wells Fargo & Company lowered their price target on shares of Nextracker from $70.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group boosted their price objective on Nextracker from $54.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, Truist Financial reiterated a “buy” rating and set a $56.00 target price (up previously from $54.00) on shares of Nextracker in a research note on Wednesday, January 29th. Three investment 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $56.43.

Insiders Place Their Bets

In other news, insider Bruce Ledesma sold 9,891 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $46.05, for a total transaction of $455,480.55. Following the sale, the insider now directly owns 132,374 shares in the company, valued at approximately $6,095,822.70. The trade was a 6.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO David P. Bennett sold 9,801 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $49.90, for a total transaction of $489,069.90. Following the completion of the transaction, the chief accounting officer now owns 124,577 shares of the company’s stock, valued at approximately $6,216,392.30. This trade represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,758 shares of company stock valued at $1,217,520. 0.27% of the stock is currently owned by insiders.

Nextracker Price Performance

Shares of NXT stock opened at $44.27 on Monday. The business has a fifty day simple moving average of $45.00 and a 200 day simple moving average of $39.80. The company has a market cap of $6.45 billion, a P/E ratio of 11.26 and a beta of 2.24. 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 Inc. has a twelve month low of $30.93 and a twelve month high of $62.31.

Nextracker (NASDAQ:NXT) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.89 earnings per share for the quarter, beating 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, sell-side 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.