MetLife Investment Management LLC Has $5.76 Million Holdings in Nextracker Inc. (NASDAQ:NXT)

MetLife Investment Management LLC grew its position in shares of Nextracker Inc. (NASDAQ:NXT) by 18.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,683 shares of the company’s stock after buying an additional 23,825 shares during the quarter. MetLife Investment Management LLC’s holdings in Nextracker were worth $5,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Nextracker during the second quarter valued at about $43,078,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Nextracker by 1,800.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 846,310 shares of the company’s stock valued at $39,675,000 after acquiring an additional 801,780 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Nextracker by 2,854.7% in the 2nd quarter. Principal Financial Group Inc. now owns 738,456 shares of the company’s stock worth $34,619,000 after purchasing an additional 713,463 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Nextracker by 146.2% during the second quarter. Bank of New York Mellon Corp now owns 1,142,274 shares of the company’s stock worth $53,550,000 after purchasing an additional 678,261 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Nextracker by 158.9% during the third quarter. Assenagon Asset Management S.A. now owns 963,698 shares of the company’s stock valued at $36,119,000 after purchasing an additional 591,488 shares during the last quarter. Institutional investors own 67.41% of the company’s stock.

Analyst Ratings Changes

NXT has been the subject of a number of analyst reports. Susquehanna reduced their price objective on shares of Nextracker from $59.00 to $50.00 and set a “positive” rating for the company in a research note on Wednesday, October 16th. Guggenheim restated a “buy” rating and set a $55.00 target price on shares of Nextracker in a research note on Friday, November 22nd. Piper Sandler cut their price target on Nextracker from $60.00 to $47.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Barclays dropped their target price on shares of Nextracker from $61.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Finally, Robert W. Baird decreased their price target on shares of Nextracker from $71.00 to $53.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.30.

Nextracker Trading Down 3.9 %

Shares of NXT stock opened at $38.16 on Friday. The company has a quick ratio of 1.99, a current ratio of 2.21 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $5.55 billion, a P/E ratio of 9.52 and a beta of 2.32. Nextracker Inc. has a 12-month low of $30.93 and a 12-month high of $62.31. The firm has a 50-day moving average price of $36.78 and a 200 day moving average price of $42.94.

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.