6,710,338 Shares in NWPX Infrastructure, Inc. $NWPX Acquired by BlackRock Inc.

BlackRock Inc. acquired a new stake in shares of NWPX Infrastructure, Inc. (NASDAQ:NWPX) during the second quarter, Holdings Channel.com reports. The fund acquired 6,710,338 shares of the industrial products company’s stock, valued at approximately $329,209,000. BlackRock Inc. owned 0.70% of NWPX Infrastructure as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its position in NWPX Infrastructure by 274.8% in the 1st quarter. AQR Capital Management LLC now owns 28,887 shares of the industrial products company’s stock worth $1,193,000 after buying an additional 21,179 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of NWPX Infrastructure in the first quarter worth $224,000. Goldman Sachs Group Inc. increased its stake in shares of NWPX Infrastructure by 17.2% in the first quarter. Goldman Sachs Group Inc. now owns 44,427 shares of the industrial products company’s stock worth $1,835,000 after acquiring an additional 6,510 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of NWPX Infrastructure by 5.6% during the first quarter. Empowered Funds LLC now owns 48,369 shares of the industrial products company’s stock worth $1,998,000 after acquiring an additional 2,547 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of NWPX Infrastructure by 3.7% during the second quarter. First Trust Advisors LP now owns 31,897 shares of the industrial products company’s stock worth $1,308,000 after acquiring an additional 1,127 shares in the last quarter. Institutional investors and hedge funds own 80.63% of the company’s stock.

Analyst Ratings Changes

NWPX has been the topic of several research reports. JPMorgan Chase & Co. began coverage on NWPX Infrastructure in a research report on Wednesday, June 10th. They issued a “neutral” rating and a $130.00 target price on the stock. Wall Street Zen lowered shares of NWPX Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 13th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of NWPX Infrastructure in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $110.00.

NWPX Infrastructure Stock Performance

Shares of NASDAQ NWPX opened at $112.39 on Thursday. The company has a quick ratio of 1.94, a current ratio of 2.71 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $129.08 and its two-hundred day moving average is $105.13. The company has a market cap of $1.08 billion, a P/E ratio of 22.52, a P/E/G ratio of 1.85 and a beta of 1.09. NWPX Infrastructure, Inc. has a 12 month low of $49.25 and a 12 month high of $152.03.

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

Insider Buying and Selling

In other news, CEO Scott J. Montross sold 2,500 shares of the company’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 transaction, the chief executive officer owned 76,129 shares of the company’s stock, valued at $9,039,557.46. This represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Keith R. Larson sold 1,250 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $115.86, for a total transaction of $144,825.00. Following the transaction, the director owned 21,133 shares in the company, valued at approximately $2,448,469.38. The trade was a 5.58% decrease in their ownership of the stock. 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. Insiders sold 9,178 shares of company stock valued at $1,102,410 over the last quarter. Corporate insiders own 3.30% of the company’s stock.

About NWPX Infrastructure

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.