Trillium Asset Management LLC Decreases Holdings in Nextracker Inc. $NXT

Trillium Asset Management LLC cut its holdings in shares of Nextracker Inc. (NASDAQ:NXT) by 35.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 81,886 shares of the company’s stock after selling 45,858 shares during the quarter. Trillium Asset Management LLC owned 0.06% of Nextracker worth $4,452,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Bryce Point Capital LLC purchased a new position in shares of Nextracker during the second quarter worth approximately $998,000. Bank of New York Mellon Corp raised its stake in shares of Nextracker by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 1,138,496 shares of the company’s stock worth $61,900,000 after acquiring an additional 35,642 shares in the last quarter. State of Michigan Retirement System raised its stake in shares of Nextracker by 0.6% during the second quarter. State of Michigan Retirement System now owns 34,600 shares of the company’s stock worth $1,881,000 after acquiring an additional 200 shares in the last quarter. Tredje AP fonden raised its stake in shares of Nextracker by 4.9% during the second quarter. Tredje AP fonden now owns 11,351 shares of the company’s stock worth $617,000 after acquiring an additional 533 shares in the last quarter. Finally, Versor Investments LP purchased a new position in shares of Nextracker in the second quarter worth $1,398,000. 67.41% of the stock is owned by hedge funds and other institutional investors.

Nextracker Price Performance

Shares of Nextracker stock opened at $111.84 on Thursday. The stock has a market cap of $16.55 billion, a price-to-earnings ratio of 29.05, a PEG ratio of 2.49 and a beta of 2.31. The firm’s 50-day moving average is $80.21 and its 200 day moving average is $65.07. Nextracker Inc. has a 1 year low of $33.29 and a 1 year high of $112.74.

Nextracker (NASDAQ:NXT) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.21. Nextracker had a net margin of 17.08% and a return on equity of 35.05%. The company had revenue of $905.27 million for the quarter, compared to analysts’ expectations of $839.53 million. Nextracker has set its FY 2026 guidance at 4.040-4.250 EPS. On average, equities analysts expect that Nextracker Inc. will post 3.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Zacks Research raised shares of Nextracker to a “hold” rating in a research note on Tuesday, August 12th. Jefferies Financial Group lifted their target price on shares of Nextracker from $84.00 to $104.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Wells Fargo & Company lifted their target price on shares of Nextracker from $72.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Roth Capital set a $120.00 target price on shares of Nextracker in a research note on Friday, October 24th. Finally, Cowen reaffirmed a “hold” rating on shares of Nextracker in a research note on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Nextracker has a consensus rating of “Moderate Buy” and an average target price of $94.05.

Insider Activity

In related news, CFO Charles D. Boynton sold 4,500 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $67.21, for a total value of $302,445.00. Following the completion of the sale, the chief financial officer directly owned 295,059 shares of the company’s stock, valued at approximately $19,830,915.39. This represents a 1.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Howard Wenger sold 5,217 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $75.00, for a total value of $391,275.00. Following the completion of the transaction, the president owned 409,039 shares of the company’s stock, valued at $30,677,925. The trade was a 1.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 22,400 shares of company stock valued at $1,485,485 in the last quarter. 0.56% of the stock is currently owned by insiders.

Nextracker 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.