Villanova Investment Management Co LLC Buys New Stake in Nextracker Inc. $NXT

Villanova Investment Management Co LLC bought a new stake in Nextracker Inc. (NASDAQ:NXT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,327 shares of the company’s stock, valued at approximately $477,000.

Several other large investors have also recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings 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 last quarter. Sachem Head Capital Management LP increased its holdings in Nextracker by 4.3% in the fourth quarter. Sachem Head Capital Management LP now owns 2,977,500 shares of the company’s stock valued at $108,768,000 after buying an additional 122,500 shares during the last quarter. Encompass Capital Advisors LLC increased its holdings in Nextracker by 72.5% in the first quarter. Encompass Capital Advisors LLC now owns 2,630,114 shares of the company’s stock valued at $110,833,000 after buying an additional 1,105,617 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Nextracker by 1.0% during the fourth quarter. Janus Henderson Group PLC now owns 1,545,143 shares of the company’s stock worth $56,488,000 after purchasing an additional 15,942 shares during the last quarter. Finally, Earnest Partners LLC grew its holdings in shares of Nextracker by 4.4% during the first quarter. Earnest Partners LLC now owns 1,309,424 shares of the company’s stock worth $55,179,000 after purchasing an additional 54,934 shares during the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Insider Buying and Selling at Nextracker

In related news, Director William D. Watkins sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $56.79, for a total transaction of $567,900.00. Following the completion of the sale, the director directly owned 7,666 shares of the company’s stock, valued at approximately $435,352.14. This represents a 56.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Nicholas Marco Miller sold 5,588 shares of the company’s stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $57.32, for a total transaction of $320,304.16. Following the sale, the chief operating officer directly owned 170,000 shares of the company’s stock, valued at approximately $9,744,400. This trade represents a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,487 shares of company stock valued at $2,019,009 in the last quarter. Company insiders own 0.56% of the company’s stock.

Nextracker Stock Up 5.1%

Shares of NASDAQ NXT opened at $67.59 on Thursday. Nextracker Inc. has a 52-week low of $30.93 and a 52-week high of $71.44. The firm has a fifty day moving average of $62.92 and a 200-day moving average of $53.49. The stock has a market capitalization of $10.00 billion, a PE ratio of 18.42, a P/E/G ratio of 1.50 and a beta of 2.26.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NXT shares. Piper Sandler reaffirmed an “overweight” rating on shares of Nextracker in a report on Thursday, May 15th. Zacks Research raised Nextracker to a “hold” rating in a report on Tuesday, August 12th. Fox Advisors lowered Nextracker from an “overweight” rating to an “equal weight” rating in a report on Thursday, May 15th. Truist Financial raised their price objective on Nextracker from $49.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. Finally, Cowen reaffirmed a “hold” rating on shares of Nextracker in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $65.00.

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.