Janus Henderson Group PLC Raises Holdings in Nextracker Inc. (NASDAQ:NXT)

Janus Henderson Group PLC raised its position in shares of Nextracker Inc. (NASDAQ:NXT) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,545,143 shares of the company’s stock after buying an additional 15,942 shares during the period. Janus Henderson Group PLC owned about 1.06% of Nextracker worth $56,488,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Nextracker by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 13,843,997 shares of the company’s stock worth $505,721,000 after buying an additional 243,635 shares during the period. Invesco Ltd. raised its stake in shares of Nextracker by 52.2% in the fourth quarter. Invesco Ltd. now owns 3,874,875 shares of the company’s stock valued at $141,549,000 after acquiring an additional 1,329,456 shares in the last quarter. Norges Bank acquired a new stake in shares of Nextracker in the fourth quarter valued at $106,166,000. Handelsbanken Fonder AB raised its stake in shares of 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 in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Nextracker by 12.8% in the fourth quarter. Deutsche Bank AG now owns 2,152,084 shares of the company’s stock valued at $78,616,000 after acquiring an additional 244,725 shares in the last quarter. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. BMO Capital Markets increased their price objective on Nextracker from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th. Robert W. Baird reduced their price objective on Nextracker from $59.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Susquehanna increased their price objective on Nextracker from $50.00 to $54.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. BNP Paribas upgraded Nextracker to a “strong-buy” rating in a research note on Wednesday, January 29th. Finally, UBS Group increased their price objective on Nextracker from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.70.

Nextracker Trading Up 6.8%

NASDAQ:NXT opened at $54.09 on Wednesday. The stock’s 50 day moving average price is $42.48 and its 200 day moving average price is $41.53. The company has a market capitalization of $7.88 billion, a PE ratio of 13.76 and a beta of 2.03. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.10. Nextracker Inc. has a 52-week low of $30.93 and a 52-week high of $62.31.

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.