Magellan Asset Management Ltd Takes $2.27 Million Position in NWPX Infrastructure, Inc. $NWPX

Magellan Asset Management Ltd purchased a new position in shares of NWPX Infrastructure, Inc. (NASDAQ:NWPX) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 46,167 shares of the industrial products company’s stock, valued at approximately $2,265,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State of Wyoming lifted its holdings in NWPX Infrastructure by 4.2% in the 1st quarter. State of Wyoming now owns 4,879 shares of the industrial products company’s stock valued at $380,000 after purchasing an additional 197 shares in the last quarter. Engineers Gate Manager LP grew its stake in NWPX Infrastructure by 3.6% during the 4th quarter. Engineers Gate Manager LP now owns 7,082 shares of the industrial products company’s stock valued at $443,000 after acquiring an additional 245 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in NWPX Infrastructure in the 2nd quarter valued at about $41,000. Simplex Trading LLC lifted its stake in NWPX Infrastructure by 193.9% in the 4th quarter. Simplex Trading LLC now owns 485 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 320 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in NWPX Infrastructure by 1.1% in the 1st quarter. First Trust Advisors LP now owns 30,728 shares of the industrial products company’s stock worth $2,392,000 after purchasing an additional 338 shares in the last quarter. 80.63% of the stock is owned by institutional investors and hedge funds.

NWPX Infrastructure Stock Performance

NASDAQ:NWPX opened at $110.08 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.71 and a quick ratio of 1.94. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 1.84 and a beta of 1.09. The company’s 50-day moving average is $130.46 and its two-hundred day moving average is $104.26. NWPX Infrastructure, Inc. has a 1-year low of $49.25 and a 1-year high of $152.03.

NWPX Infrastructure (NASDAQ:NWPX) last announced its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.29. The business had revenue of $159.48 million during the quarter, compared to the consensus estimate of $154.70 million. NWPX Infrastructure had a net margin of 8.49% and a return on equity of 12.22%. Analysts forecast that NWPX Infrastructure, Inc. will post 5.43 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NWPX shares. JPMorgan Chase & Co. started coverage on NWPX Infrastructure in a report on Wednesday, June 10th. They set a “neutral” rating and a $130.00 target price on the stock. Wall Street Zen downgraded NWPX Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 13th. Zacks Research lowered NWPX Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of NWPX Infrastructure in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, NWPX Infrastructure currently has a consensus rating of “Moderate Buy” and an average price target of $110.00.

Insider Buying and Selling

In other NWPX Infrastructure news, CEO Scott J. Montross sold 2,500 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $118.74, for a total transaction of $296,850.00. Following the completion of the sale, the chief executive officer owned 76,129 shares of the company’s stock, valued at $9,039,557.46. This trade represents a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Keith R. Larson sold 1,250 shares of NWPX Infrastructure stock in a transaction on Monday, August 17th. The shares were sold at an average price of $115.86, for a total value of $144,825.00. Following the completion of the sale, the director owned 21,133 shares in the company, valued at $2,448,469.38. This represents a 5.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 9,178 shares of company stock worth $1,102,410. Company insiders own 3.30% of the company’s stock.

NWPX Infrastructure Profile

Northwest Pipe Company, together with its subsidiaries, engages in the manufacture and supply of water-related infrastructure products in North America. It operates in two segments, Engineered Steel Pressure Pipe (SPP) and Precast Infrastructure and Engineered Systems (Precast). The SPP segment offers large-diameter and high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems. Its products are also used for hydroelectric power systems, wastewater systems, seismic resiliency, and other applications.