Fort Washington Investment Advisors Inc. OH Has $15.51 Million Position in Nextracker Inc. (NASDAQ:NXT)

Fort Washington Investment Advisors Inc. OH lifted its position in shares of Nextracker Inc. (NASDAQ:NXT) by 31.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 368,060 shares of the company’s stock after acquiring an additional 88,060 shares during the period. Fort Washington Investment Advisors Inc. OH owned approximately 0.25% of Nextracker worth $15,510,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Vontobel Holding Ltd. bought a new stake in shares of Nextracker during the 4th quarter worth $1,582,000. Figure 8 Investment Strategies LLC acquired a new position in Nextracker during the fourth quarter worth about $393,000. Principal Securities Inc. lifted its holdings in shares of Nextracker by 41.8% in the fourth quarter. Principal Securities Inc. now owns 1,390 shares of the company’s stock worth $51,000 after acquiring an additional 410 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Nextracker by 52.4% during the 4th quarter. Allworth Financial LP now owns 803 shares of the company’s stock valued at $29,000 after purchasing an additional 276 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in Nextracker by 11.6% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 57,669 shares of the company’s stock worth $2,107,000 after purchasing an additional 5,999 shares in the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextracker Stock Performance

Shares of Nextracker stock opened at $59.42 on Friday. The company has a market cap of $8.69 billion, a P/E ratio of 15.12 and a beta of 2.39. The company has a current ratio of 2.20, a quick ratio of 1.96 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $48.78 and a two-hundred day moving average price of $44.44. Nextracker Inc. has a 1-year low of $30.93 and a 1-year high of $63.19.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NXT. Robert W. Baird cut their target price on shares of Nextracker from $59.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. TD Cowen raised their price objective on Nextracker from $47.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, May 15th. Roth Capital reaffirmed a “buy” rating and issued a $70.00 target price (up previously from $55.00) on shares of Nextracker in a report on Thursday, May 15th. Wall Street Zen upgraded Nextracker from a “hold” rating to a “buy” rating in a research report on Thursday, May 22nd. Finally, Guggenheim cut Nextracker from a “buy” rating to a “neutral” rating in a report on Wednesday, May 14th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Nextracker has an average rating of “Moderate Buy” and an average price target of $60.33.

Insider Activity at Nextracker

In related news, CAO David P. Bennett sold 9,801 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $55.00, for a total transaction of $539,055.00. Following the transaction, the chief accounting officer now owns 124,615 shares in the company, valued at $6,853,825. The trade was a 7.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Howard Wenger sold 6,066 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $55.00, for a total transaction of $333,630.00. Following the completion of the sale, the president now owns 219,389 shares of the company’s stock, valued at $12,066,395. The trade was a 2.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 129,898 shares of company stock worth $7,348,516 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

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.