Bank of New York Mellon Corp Has $61.90 Million Stock Holdings in Nextracker Inc. $NXT

Bank of New York Mellon Corp grew its stake in Nextracker Inc. (NASDAQ:NXT) by 3.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,138,496 shares of the company’s stock after purchasing an additional 35,642 shares during the quarter. Bank of New York Mellon Corp’s holdings in Nextracker were worth $61,900,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NXT. Wellington Management Group LLP lifted its stake in Nextracker by 56.5% in the first 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 during the period. Encompass Capital Advisors LLC grew its position 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 buying an additional 1,105,617 shares during the period. Earnest Partners LLC increased its stake in shares of Nextracker by 4.4% in 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 increased its stake in shares of Nextracker by 2.8% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,243,151 shares of the company’s stock valued at $52,386,000 after acquiring an additional 33,537 shares during the last quarter. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of Nextracker in the 2nd quarter valued at approximately $58,122,000. 67.41% of the stock is currently owned by institutional investors.

Nextracker Stock Performance

NASDAQ:NXT opened at $104.63 on Monday. The stock has a 50-day simple moving average of $81.73 and a 200 day simple moving average of $66.17. Nextracker Inc. has a 52-week low of $33.29 and a 52-week high of $112.74. The company has a market cap of $15.53 billion, a PE ratio of 27.18, a PEG ratio of 2.61 and a beta of 2.30.

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Royal Bank Of Canada lifted their price target on shares of Nextracker from $92.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. Cowen reissued a “hold” rating on shares of Nextracker in a research note on Friday, October 24th. Northland Securities reaffirmed a “market perform” rating on shares of Nextracker in a research report on Wednesday, July 30th. TD Cowen lifted their price objective on Nextracker from $65.00 to $88.00 and gave the company a “hold” rating in a report on Friday, October 24th. Finally, Roth Capital set a $120.00 target price on Nextracker in a research note on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $94.05.

Insiders Place Their Bets

In other 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 completion of 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Howard Wenger sold 5,703 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $70.00, for a total value of $399,210.00. Following the completion of the transaction, the president owned 414,256 shares of the company’s stock, valued at $28,997,920. The trade was a 1.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 15,420 shares of company stock valued at $1,092,930. 0.56% of the stock is owned by 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.