Robeco Schweiz AG Acquires New Shares in Nextracker Inc. (NASDAQ:NXT)

Robeco Schweiz AG bought a new stake in Nextracker Inc. (NASDAQ:NXT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 605,300 shares of the company’s stock, valued at approximately $22,112,000. Robeco Schweiz AG owned approximately 0.42% of Nextracker at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NXT. Allworth Financial LP boosted its holdings in Nextracker by 52.4% in the fourth quarter. Allworth Financial LP now owns 803 shares of the company’s stock worth $29,000 after purchasing an additional 276 shares in the last quarter. Principal Securities Inc. boosted its stake in shares of Nextracker by 41.8% during the 4th quarter. Principal Securities Inc. now owns 1,390 shares of the company’s stock worth $51,000 after acquiring an additional 410 shares in the last quarter. Quarry LP increased its holdings in shares of Nextracker by 61.5% during the 3rd quarter. Quarry LP now owns 1,119 shares of the company’s stock valued at $42,000 after acquiring an additional 426 shares during the last quarter. Nisa Investment Advisors LLC raised 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 acquiring an additional 516 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake 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 acquiring an additional 519 shares in the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Nextracker Stock Up 1.9 %

NASDAQ NXT opened at $47.42 on Thursday. Nextracker Inc. has a 1-year low of $30.93 and a 1-year high of $62.31. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of 12.07 and a beta of 2.13. The stock’s 50 day moving average is $43.13 and its two-hundred day moving average is $39.31. The company has a current ratio of 2.20, a quick ratio of 1.96 and a debt-to-equity ratio of 0.10.

Nextracker (NASDAQ:NXT) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.89 EPS for the quarter, beating 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%. Equities analysts forecast that Nextracker Inc. will post 3.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NXT has been the topic of several analyst reports. Bank of America lowered their price target on Nextracker from $65.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Susquehanna raised their target price 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. The Goldman Sachs Group boosted their target price on shares of Nextracker from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Jefferies Financial Group raised Nextracker from a “hold” rating to a “buy” rating and raised their price target for the company from $46.00 to $56.00 in a research report on Wednesday, January 29th. Finally, BNP Paribas raised Nextracker to a “strong-buy” rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.50.

Insider Activity

In related news, President Howard Wenger sold 6,066 shares of Nextracker stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $45.00, for a total transaction of $272,970.00. Following the completion of the transaction, the president now directly owns 209,365 shares of the company’s stock, valued at $9,421,425. This trade represents a 2.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO David P. Bennett sold 9,801 shares of the business’s stock in a transaction dated 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 trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,758 shares of company stock worth $1,217,520. Corporate insiders own 0.27% of the company’s stock.

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.