Nextracker Inc. (NASDAQ:NXT) Shares Acquired by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of Nextracker Inc. (NASDAQ:NXT) by 13.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,067,165 shares of the company’s stock after purchasing an additional 124,100 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Nextracker were worth $38,984,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NXT. Bank of Montreal Can boosted its holdings in Nextracker by 7.1% in the third quarter. Bank of Montreal Can now owns 56,147 shares of the company’s stock valued at $2,184,000 after purchasing an additional 3,719 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Nextracker by 12.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 165,715 shares of the company’s stock worth $6,211,000 after buying an additional 18,187 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Nextracker by 1.8% in the 3rd quarter. HighTower Advisors LLC now owns 29,777 shares of the company’s stock valued at $1,115,000 after buying an additional 519 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Nextracker by 4.5% in the 3rd quarter. Janus Henderson Group PLC now owns 1,529,201 shares of the company’s stock valued at $57,285,000 after buying an additional 65,177 shares during the last quarter. Finally, Quarry LP raised its stake in 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. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NXT shares. Jefferies Financial Group upgraded shares of Nextracker from a “hold” rating to a “buy” rating and upped their price objective for the company from $46.00 to $56.00 in a research note on Wednesday, January 29th. BMO Capital Markets raised their price target on Nextracker from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th. TD Cowen started coverage on Nextracker in a research report on Thursday, December 19th. They set a “hold” rating and a $41.00 price target on the stock. Barclays raised Nextracker from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $47.00 to $60.00 in a report on Wednesday, January 29th. Finally, Wells Fargo & Company cut their target price 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. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Nextracker currently has an average rating of “Moderate Buy” and a consensus target price of $56.14.

Insider Buying and Selling at Nextracker

In other Nextracker 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 value of $272,970.00. Following the sale, the president now owns 209,365 shares of the company’s stock, valued at approximately $9,421,425. This represents a 2.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bruce Ledesma sold 9,891 shares of Nextracker stock in a transaction on Monday, February 10th. The stock was 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. This trade represents a 6.95 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,758 shares of company stock valued at $1,217,520. Corporate insiders own 0.27% of the company’s stock.

Nextracker Trading Down 3.4 %

Shares of NXT stock opened at $39.02 on Friday. The business’s fifty day moving average price is $45.04 and its 200 day moving average price is $40.25. The firm has a market capitalization of $5.68 billion, a PE ratio of 9.93 and a beta of 2.02. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.20 and a quick ratio of 1.96. Nextracker Inc. has a 1-year low of $30.93 and a 1-year 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, 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%. As a group, sell-side analysts forecast 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.