Charles Schwab Investment Management Inc. Has $48.62 Million Stock Position in Nextracker Inc. (NASDAQ:NXT)

Charles Schwab Investment Management Inc. grew its position in Nextracker Inc. (NASDAQ:NXT) by 0.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,331,078 shares of the company’s stock after buying an additional 10,162 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.91% of Nextracker worth $48,624,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in shares of Nextracker by 52.4% during the 4th quarter. Allworth Financial LP now owns 803 shares of the company’s stock worth $29,000 after buying an additional 276 shares during 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 buying an additional 410 shares during the last quarter. Quarry LP boosted its stake in shares of Nextracker by 61.5% during the 3rd quarter. Quarry LP now owns 1,119 shares of the company’s stock worth $42,000 after buying an additional 426 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Nextracker by 38.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company’s stock worth $68,000 after buying an additional 516 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of Nextracker by 1.8% during the 3rd quarter. HighTower Advisors LLC now owns 29,777 shares of the company’s stock worth $1,115,000 after buying an additional 519 shares during the last quarter. 67.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Bruce Ledesma sold 9,891 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $46.05, for a total value of $455,480.55. Following the transaction, the insider now owns 132,374 shares of the company’s stock, valued at $6,095,822.70. This represents a 6.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Howard Wenger sold 6,066 shares of the stock in a transaction on Thursday, January 16th. The stock was 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 in the company, valued at $9,421,425. The trade was a 2.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,758 shares of company stock valued at $1,217,520. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on NXT. BNP Paribas upgraded shares of Nextracker to a “strong-buy” rating in a research note on Wednesday, January 29th. Northland Capmk upgraded shares of Nextracker to a “strong-buy” rating in a research note on Tuesday, November 19th. Barclays upgraded shares of Nextracker from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $47.00 to $60.00 in a research note on Wednesday, January 29th. Truist Financial reiterated a “buy” rating and issued a $56.00 target price (up from $54.00) on shares of Nextracker in a research note on Wednesday, January 29th. Finally, 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. 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.50.

Nextracker Stock Down 1.9 %

NXT opened at $44.31 on Friday. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.10. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of 11.27 and a beta of 2.24. Nextracker Inc. has a twelve month low of $30.93 and a twelve month high of $62.31. The company’s 50-day moving average price is $44.72 and its two-hundred day moving average price is $39.62.

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