Fuller & Thaler Asset Management Inc. Has $28.24 Million Position in Nextracker Inc. (NASDAQ:NXT)

Fuller & Thaler Asset Management Inc. grew its holdings in Nextracker Inc. (NASDAQ:NXT) by 10.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 773,183 shares of the company’s stock after acquiring an additional 70,663 shares during the period. Fuller & Thaler Asset Management Inc.’s holdings in Nextracker were worth $28,244,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Allworth Financial LP boosted its stake in Nextracker by 52.4% in the 4th quarter. Allworth Financial LP now owns 803 shares of the company’s stock valued at $29,000 after buying an additional 276 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of Nextracker by 448.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,290 shares of the company’s stock valued at $47,000 after purchasing an additional 1,055 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Nextracker during the 4th quarter worth about $48,000. Principal Securities Inc. lifted its holdings in Nextracker by 41.8% during the 4th quarter. Principal Securities Inc. now owns 1,390 shares of the company’s stock valued at $51,000 after purchasing an additional 410 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in Nextracker by 92.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,817 shares of the company’s stock valued at $66,000 after buying an additional 873 shares in the last quarter. 67.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

NXT has been the subject of several recent analyst reports. Northland Securities reaffirmed an “outperform” rating and set a $55.00 price objective (up previously from $48.00) on shares of Nextracker in a report on Wednesday, January 29th. Royal Bank of Canada initiated coverage on Nextracker in a report on Monday, March 17th. They set an “outperform” rating and a $55.00 price target for the company. Truist Financial reduced their price objective on Nextracker from $56.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Robert W. Baird lowered their target price on Nextracker from $59.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Finally, Guggenheim increased their price objective on shares of Nextracker from $50.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Nextracker currently has an average rating of “Moderate Buy” and a consensus price target of $55.43.

Insiders Place Their Bets

In related news, insider Bruce Ledesma sold 9,891 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $46.05, for a total value of $455,480.55. Following the completion of the transaction, the insider now directly owns 132,374 shares in the company, valued at approximately $6,095,822.70. The trade was a 6.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO David P. Bennett sold 9,801 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $49.90, for a total value of $489,069.90. Following the sale, the chief accounting officer now directly owns 124,577 shares of the company’s stock, valued at approximately $6,216,392.30. The trade was a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Nextracker Trading Up 5.5 %

NASDAQ:NXT opened at $42.35 on Friday. 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 Inc. has a 1-year low of $30.93 and a 1-year high of $62.31. The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of 10.78 and a beta of 2.02. The business’s 50-day moving average price is $42.75 and its two-hundred day moving average price is $40.50.

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 return on equity of 41.22% and a net margin of 20.12%. On average, equities analysts expect that Nextracker Inc. will post 3.29 earnings per share for the current year.

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.