Mitsubishi UFJ Asset Management Co. Ltd. Cuts Stock Position 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 second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,620 shares of the company’s stock after selling 12,152 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.08% of Nextracker worth $6,232,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its position in shares of Nextracker by 703.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 659 shares of the company’s stock worth $28,000 after purchasing an additional 577 shares during the last quarter. Cullen Frost Bankers Inc. grew its position in Nextracker by 122.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock valued at $32,000 after purchasing an additional 324 shares during the last quarter. Summit Securities Group LLC increased its stake in Nextracker by 796.0% during the 1st quarter. Summit Securities Group LLC now owns 905 shares of the company’s stock valued at $38,000 after purchasing an additional 804 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Nextracker in the first quarter worth about $40,000. Finally, Hantz Financial Services Inc. raised its holdings in Nextracker by 1,737.8% in the second quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock worth $45,000 after buying an additional 782 shares during the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Nextracker Stock Performance

Nextracker stock opened at $96.50 on Thursday. Nextracker Inc. has a one year low of $33.29 and a one year high of $112.74. The stock has a fifty day moving average of $83.90 and a 200 day moving average of $67.28. The stock has a market cap of $14.32 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 2.64 and a beta of 2.31.

Nextracker (NASDAQ:NXT) last released its quarterly earnings results on Thursday, October 23rd. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.98 by $0.21. The firm had revenue of $905.27 million during 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 predict that Nextracker Inc. will post 3.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NXT has been the subject of several analyst reports. Robert W. Baird set a $100.00 price target on shares of Nextracker in a research report on Friday, October 31st. Northland Capmk lowered Nextracker from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Bank of America boosted their price target on Nextracker from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Susquehanna increased their price objective on Nextracker from $76.00 to $100.00 and gave the company a “positive” rating in a research report on Monday, October 13th. Finally, Wall Street Zen downgraded Nextracker from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 25th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Nextracker has a consensus rating of “Moderate Buy” and an average price target of $94.05.

Insider Buying and Selling at Nextracker

In related news, President Howard Wenger sold 5,217 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $75.00, for a total transaction of $391,275.00. Following the completion of the transaction, the president directly owned 409,039 shares in the company, valued at approximately $30,677,925. The trade was a 1.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Charles D. Boynton sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $67.21, for a total transaction of $302,445.00. Following the sale, the chief financial officer owned 295,059 shares in the company, valued at approximately $19,830,915.39. The trade was a 1.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 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 company insiders.

Nextracker 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.