Vanguard Personalized Indexing Management LLC Purchases New Stake in Nextracker Inc. (NASDAQ:NXT)

Vanguard Personalized Indexing Management LLC acquired a new position in shares of Nextracker Inc. (NASDAQ:NXT) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 4,873 shares of the company’s stock, valued at approximately $228,000.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Nextracker by 166.1% during the 1st quarter. Vanguard Group Inc. now owns 12,531,526 shares of the company’s stock valued at $705,149,000 after buying an additional 7,821,368 shares during the period. Victory Capital Management Inc. increased its stake in Nextracker by 5.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,052,437 shares of the company’s stock worth $96,218,000 after buying an additional 110,707 shares during the period. Dimensional Fund Advisors LP boosted its position in Nextracker by 35.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,766,871 shares of the company’s stock valued at $82,844,000 after buying an additional 460,739 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Nextracker by 146.2% during the second quarter. Bank of New York Mellon Corp now owns 1,142,274 shares of the company’s stock valued at $53,550,000 after acquiring an additional 678,261 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Nextracker in the second quarter worth about $43,078,000. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextracker Stock Up 3.6 %

NXT stock opened at $38.90 on Monday. The firm has a market cap of $5.65 billion, a PE ratio of 11.58, a P/E/G ratio of 5.32 and a beta of 2.47. Nextracker Inc. has a 12 month low of $32.14 and a 12 month high of $62.31. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.11 and a quick ratio of 1.91. The firm has a 50 day simple moving average of $40.00 and a 200 day simple moving average of $46.92.

Nextracker (NASDAQ:NXT) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.27. The business had revenue of $719.92 million during 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 revenue was up 50.1% compared to the same quarter last year. During the same period last year, the company posted $0.48 EPS. Equities research analysts forecast that Nextracker Inc. will post 2.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on NXT shares. Roth Mkm cut their price target on shares of Nextracker from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Truist Financial reduced their price objective on Nextracker from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $55.00 price target on shares of Nextracker in a report on Friday, August 2nd. Susquehanna started coverage on Nextracker in a report on Friday, June 28th. They set a “positive” rating and a $59.00 target price for the company. Finally, Barclays cut their price target on Nextracker from $63.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $58.18.

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.