Robeco Schweiz AG Acquires Shares of 605,300 Nextracker Inc. (NASDAQ:NXT)

Robeco Schweiz AG bought a new position in Nextracker Inc. (NASDAQ:NXT) in the fourth quarter, HoldingsChannel.com reports. The fund bought 605,300 shares of the company’s stock, valued at approximately $22,112,000.

A number of other large investors also recently modified their holdings of NXT. Allworth Financial LP increased its holdings in shares of Nextracker by 52.4% in the fourth quarter. Allworth Financial LP now owns 803 shares of the company’s stock valued at $29,000 after purchasing an additional 276 shares in the last quarter. Principal Securities Inc. boosted its position in Nextracker by 41.8% in the 4th 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 last quarter. Quarry LP boosted its position in Nextracker by 61.5% in the 3rd 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 last quarter. Nisa Investment Advisors LLC increased its stake in shares of Nextracker by 38.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company’s stock valued at $68,000 after buying an additional 516 shares during the period. Finally, HighTower Advisors LLC raised its position in shares of Nextracker by 1.8% during the third quarter. HighTower Advisors LLC now owns 29,777 shares of the company’s stock worth $1,115,000 after acquiring an additional 519 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NXT has been the topic of several recent research reports. Piper Sandler raised their price target on Nextracker from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. BNP Paribas raised shares of Nextracker to a “strong-buy” rating in a research note on Wednesday, January 29th. UBS Group boosted their price target on shares of Nextracker from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Susquehanna raised their price objective on shares of Nextracker from $50.00 to $54.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Finally, Robert W. Baird lowered their target price on shares of Nextracker from $71.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.50.

Nextracker Stock Performance

Shares of NXT stock opened at $47.42 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.96 and a current ratio of 2.20. Nextracker Inc. has a 52 week low of $30.93 and a 52 week high of $62.31. The company’s 50 day moving average price is $43.13 and its two-hundred day moving average price is $39.31. The company has a market capitalization of $6.91 billion, a P/E ratio of 12.07 and a beta of 2.13.

Nextracker (NASDAQ:NXT) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.89 EPS 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%. On average, analysts expect that Nextracker Inc. will post 3.29 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO David P. Bennett sold 9,801 shares of the stock in a transaction 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 in the company, valued at approximately $6,216,392.30. This represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $455,480.55. Following the completion of the sale, the insider now owns 132,374 shares in the company, valued at $6,095,822.70. The trade was a 6.95 % decrease in their ownership of the stock. 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 over the last three months. Corporate insiders own 0.27% of the company’s stock.

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.