Graybill Wealth Management LTD. Has $1.16 Million Stock Position in Nextracker Inc. (NASDAQ:NXT)

Graybill Wealth Management LTD. lifted its stake in shares of Nextracker Inc. (NASDAQ:NXT) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,911 shares of the company’s stock after buying an additional 1,233 shares during the period. Graybill Wealth Management LTD.’s holdings in Nextracker were worth $1,159,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NXT. 1832 Asset Management L.P. increased its holdings in Nextracker by 0.3% in the 1st quarter. 1832 Asset Management L.P. now owns 80,190 shares of the company’s stock worth $4,512,000 after purchasing an additional 275 shares in the last quarter. GAMMA Investing LLC raised its holdings in Nextracker by 73.2% during the 2nd quarter. GAMMA Investing LLC now owns 660 shares of the company’s stock worth $31,000 after purchasing an additional 279 shares during the last quarter. Hilltop National Bank raised its stake in Nextracker by 40.6% during the second quarter. Hilltop National Bank now owns 1,187 shares of the company’s stock worth $56,000 after buying an additional 343 shares during the last quarter. Arizona State Retirement System lifted its holdings in Nextracker by 1.1% in the second quarter. Arizona State Retirement System now owns 34,403 shares of the company’s stock valued at $1,613,000 after buying an additional 372 shares during the period. Finally, Wedbush Securities Inc. grew its holdings in Nextracker by 8.2% during the 2nd quarter. Wedbush Securities Inc. now owns 6,080 shares of the company’s stock worth $285,000 after acquiring an additional 461 shares during the period. 67.41% of the stock is currently owned by institutional investors.

Nextracker Price Performance

Shares of Nextracker stock traded down $0.53 during trading on Tuesday, hitting $32.07. The stock had a trading volume of 495,731 shares, compared to its average volume of 3,731,856. The company has a current ratio of 2.11, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. Nextracker Inc. has a 12 month low of $31.79 and a 12 month high of $62.31. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 9.70 and a beta of 2.47. The business’s 50-day moving average is $37.18 and its 200 day moving average is $44.51.

Nextracker (NASDAQ:NXT) last announced its earnings results on Thursday, August 1st. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.27. The business had revenue of $719.92 million for the quarter, compared to analyst estimates of $616.71 million. Nextracker had a negative return on equity of 36.33% and a net margin of 14.87%. The company’s quarterly revenue was up 50.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS. As a group, sell-side analysts anticipate that Nextracker Inc. will post 2.52 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $55.00 target price on shares of Nextracker in a research note on Friday, August 2nd. Bank of America upped their price objective on shares of Nextracker from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Jefferies Financial Group started coverage on Nextracker in a research note on Wednesday, September 4th. They issued a “hold” rating and a $46.00 target price for the company. BMO Capital Markets dropped their price target on Nextracker from $56.00 to $44.00 and set a “market perform” rating on the stock in a research note on Monday, October 14th. Finally, Barclays decreased their price objective on Nextracker from $61.00 to $47.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Nextracker presently has a consensus rating of “Moderate Buy” and an average target price of $56.65.

About Nextracker

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.