Mitsubishi UFJ Asset Management Co. Ltd. Cuts Stock Holdings in Nextracker Inc. $NXT

Mitsubishi UFJ Asset Management Co. Ltd. lessened its stake in shares of Nextracker Inc. (NASDAQ:NXT) by 9.6% in the 2nd quarter, Holdings Channel reports. The firm owned 114,620 shares of the company’s stock after selling 12,152 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Nextracker were worth $6,232,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in Nextracker by 56.5% during the 1st quarter. Wellington Management Group LLP now owns 5,237,833 shares of the company’s stock valued at $220,722,000 after buying an additional 1,890,445 shares in the last quarter. Encompass Capital Advisors LLC raised its holdings in shares of Nextracker by 72.5% during the 1st quarter. Encompass Capital Advisors LLC now owns 2,630,114 shares of the company’s stock worth $110,833,000 after acquiring an additional 1,105,617 shares in the last quarter. Earnest Partners LLC boosted its position in shares of Nextracker by 4.4% during the 1st quarter. Earnest Partners LLC now owns 1,309,424 shares of the company’s stock valued at $55,179,000 after acquiring an additional 54,934 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Nextracker by 2.8% in the first quarter. Westfield Capital Management Co. LP now owns 1,243,151 shares of the company’s stock valued at $52,386,000 after purchasing an additional 33,537 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Nextracker by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 1,138,496 shares of the company’s stock valued at $61,900,000 after purchasing an additional 35,642 shares in the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Nextracker Trading Down 8.8%

NASDAQ NXT opened at $96.50 on Thursday. The stock has a market cap of $14.32 billion, a PE ratio of 25.07, a PEG ratio of 2.64 and a beta of 2.31. Nextracker Inc. has a 12 month low of $33.29 and a 12 month high of $112.74. The company’s 50-day moving average price is $83.90 and its 200-day moving average price is $67.28.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on NXT. Weiss Ratings upgraded shares of Nextracker from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, November 7th. Wall Street Zen downgraded shares of Nextracker from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 25th. Bank of America lifted their price target on Nextracker from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. TD Cowen upped their price objective on Nextracker from $65.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, October 24th. Finally, Guggenheim set a $74.00 target price on Nextracker in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $94.05.

Insider Activity

In other Nextracker news, CFO Charles D. Boynton sold 4,500 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $67.21, for a total transaction of $302,445.00. Following the transaction, the chief financial officer directly owned 295,059 shares in the company, valued at $19,830,915.39. This represents a 1.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Howard Wenger sold 5,217 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $75.00, for a total transaction of $391,275.00. Following the completion of the sale, the president owned 409,039 shares of the company’s stock, valued at approximately $30,677,925. This represents a 1.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 15,420 shares of company stock valued at $1,092,930 over the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

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.