Nextracker Inc. (NASDAQ:NXT) Shares Sold by Becker Capital Management Inc.

Becker Capital Management Inc. reduced its position in Nextracker Inc. (NASDAQ:NXT) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 110,197 shares of the company’s stock after selling 7,547 shares during the quarter. Becker Capital Management Inc. owned about 0.08% of Nextracker worth $4,025,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Nextracker by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 13,843,997 shares of the company’s stock valued at $505,721,000 after purchasing an additional 243,635 shares during the last quarter. Invesco Ltd. lifted its position in Nextracker by 52.2% in the fourth quarter. Invesco Ltd. now owns 3,874,875 shares of the company’s stock valued at $141,549,000 after buying an additional 1,329,456 shares during the last quarter. Norges Bank acquired a new stake in shares of Nextracker during the fourth quarter valued at about $106,166,000. Handelsbanken Fonder AB lifted its holdings in shares of Nextracker by 36.0% in the 4th quarter. Handelsbanken Fonder AB now owns 2,278,217 shares of the company’s stock worth $83,223,000 after acquiring an additional 602,600 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Nextracker by 10.5% during the 4th quarter. Northern Trust Corp now owns 1,917,024 shares of the company’s stock worth $70,029,000 after purchasing an additional 181,741 shares during the period. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Nextracker Trading Down 0.3 %

Shares of Nextracker stock opened at $43.07 on Wednesday. The company has a fifty day simple moving average of $42.44 and a 200-day simple moving average of $40.72. Nextracker Inc. has a 12-month low of $30.93 and a 12-month high of $62.31. The company has a current ratio of 2.20, a quick ratio of 1.96 and a debt-to-equity ratio of 0.10. The stock has a market cap of $6.27 billion, a price-to-earnings ratio of 10.96 and a beta of 2.02.

Nextracker (NASDAQ:NXT) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.89 earnings per share (EPS) for the quarter, topping 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.

Wall Street Analyst Weigh In

A number of research firms have commented on NXT. The Goldman Sachs Group upped their price target on Nextracker from $54.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Jefferies Financial Group upgraded Nextracker from a “hold” rating to a “buy” rating and raised their target price for the company from $46.00 to $56.00 in a report on Wednesday, January 29th. Royal Bank of Canada initiated coverage on shares of Nextracker in a research note on Monday, March 17th. They set an “outperform” rating and a $55.00 price target on the stock. BMO Capital Markets raised their price objective on shares of Nextracker from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th. Finally, Robert W. Baird cut their target price on shares of Nextracker from $59.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $55.70.

Insider Activity

In other news, insider Bruce Ledesma sold 9,891 shares of Nextracker 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 transaction, the insider now directly owns 132,374 shares of the company’s stock, valued at $6,095,822.70. The trade was a 6.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.27% of the company’s stock.

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.