Jones Financial Companies Lllp Has $482,000 Stock Position in Nextracker Inc. (NASDAQ:NXT)

Jones Financial Companies Lllp increased its stake in shares of Nextracker Inc. (NASDAQ:NXT) by 115.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,186 shares of the company’s stock after purchasing an additional 7,056 shares during the quarter. Jones Financial Companies Lllp’s holdings in Nextracker were worth $482,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NXT. State Street Corp grew its position in shares of Nextracker by 15.8% in the 3rd quarter. State Street Corp now owns 5,070,473 shares of the company’s stock valued at $190,041,000 after buying an additional 690,343 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Nextracker by 23.3% during the third quarter. Geode Capital Management LLC now owns 3,593,938 shares of the company’s stock valued at $134,724,000 after purchasing an additional 679,272 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Nextracker by 25.5% in the third quarter. Wellington Management Group LLP now owns 3,392,992 shares of the company’s stock valued at $127,169,000 after acquiring an additional 688,810 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Nextracker by 15.4% during the 3rd quarter. Victory Capital Management Inc. now owns 2,367,636 shares of the company’s stock valued at $88,739,000 after purchasing an additional 315,199 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Nextracker by 36.0% in the fourth quarter. Handelsbanken Fonder AB now owns 2,278,217 shares of the company’s stock valued at $83,223,000 after acquiring an additional 602,600 shares during the last quarter. Institutional investors own 67.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. UBS Group upped their price objective on shares of Nextracker from $60.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Barclays raised shares of Nextracker from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $47.00 to $60.00 in a research note on Wednesday, January 29th. The Goldman Sachs Group increased their price target on shares of Nextracker from $54.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. BNP Paribas upgraded Nextracker to a “strong-buy” rating in a report on Wednesday, January 29th. Finally, Jefferies Financial Group upgraded shares of Nextracker from a “hold” rating to a “buy” rating and increased their target price for the stock from $46.00 to $56.00 in a 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.50.

Insider Activity

In other news, CAO David P. Bennett sold 9,801 shares of Nextracker stock in a transaction that occurred 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 sale, the chief accounting officer now owns 124,577 shares in the company, valued at $6,216,392.30. This trade represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Howard Wenger sold 6,066 shares of the 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 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 disclosure for this sale can be found here. Insiders sold 25,758 shares of company stock valued at $1,217,520 in the last quarter. 0.27% of the stock is currently owned by insiders.

Nextracker Stock Up 0.4 %

Shares of Nextracker stock opened at $41.71 on Tuesday. The company has a 50-day simple moving average of $44.19 and a two-hundred day simple moving average of $39.51. Nextracker Inc. has a 52-week low of $30.93 and a 52-week high of $62.31. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.96 and a current ratio of 2.20. The stock has a market capitalization of $6.07 billion, a PE ratio of 10.61 and a beta of 2.24.

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