Heartland Advisors Inc. Reduces Stake in NWPX Infrastructure, Inc. $NWPX

Heartland Advisors Inc. cut its holdings in shares of NWPX Infrastructure, Inc. (NASDAQ:NWPX) by 23.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 245,000 shares of the industrial products company’s stock after selling 76,500 shares during the quarter. Heartland Advisors Inc. owned about 2.55% of NWPX Infrastructure worth $15,310,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of NWPX Infrastructure by 19.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 101,961 shares of the industrial products company’s stock worth $6,372,000 after purchasing an additional 16,434 shares during the period. LSV Asset Management grew its holdings in shares of NWPX Infrastructure by 166.9% during the 3rd quarter. LSV Asset Management now owns 69,400 shares of the industrial products company’s stock worth $3,673,000 after purchasing an additional 43,398 shares during the period. Legal & General Group Plc grew its holdings in shares of NWPX Infrastructure by 3.3% during the 4th quarter. Legal & General Group Plc now owns 200,985 shares of the industrial products company’s stock worth $12,560,000 after purchasing an additional 6,440 shares during the period. Ellsworth Advisors LLC purchased a new position in shares of NWPX Infrastructure during the 4th quarter worth $1,031,000. Finally, Royce & Associates LP grew its holdings in shares of NWPX Infrastructure by 7.1% during the 3rd quarter. Royce & Associates LP now owns 537,188 shares of the industrial products company’s stock worth $28,433,000 after purchasing an additional 35,768 shares during the period. 80.63% of the stock is currently owned by hedge funds and other institutional investors.

NWPX Infrastructure Price Performance

NWPX stock opened at $122.31 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.68 and a quick ratio of 2.06. The firm has a market capitalization of $1.18 billion, a P/E ratio of 28.58, a P/E/G ratio of 2.27 and a beta of 1.10. The business’s 50-day moving average is $100.51 and its two-hundred day moving average is $79.80. NWPX Infrastructure, Inc. has a 1 year low of $38.38 and a 1 year high of $128.29.

NWPX Infrastructure (NASDAQ:NWPX) last posted its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.40. The company had revenue of $138.25 million for the quarter, compared to analyst estimates of $125.10 million. NWPX Infrastructure had a return on equity of 10.80% and a net margin of 7.66%. Analysts anticipate that NWPX Infrastructure, Inc. will post 4.94 earnings per share for the current fiscal year.

Insider Buying and Selling at NWPX Infrastructure

In other NWPX Infrastructure news, CEO Scott J. Montross sold 2,500 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $71.44, for a total value of $178,600.00. Following the sale, the chief executive officer owned 65,977 shares of the company’s stock, valued at $4,713,396.88. This trade represents a 3.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Amanda Julian sold 3,473 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $71.98, for a total value of $249,986.54. Following the completion of the sale, the director directly owned 10,417 shares in the company, valued at $749,815.66. This represents a 25.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,273 shares of company stock valued at $662,524 in the last quarter. Corporate insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

NWPX has been the subject of a number of research analyst reports. Wall Street Zen upgraded NWPX Infrastructure from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. JPMorgan Chase & Co. initiated coverage on NWPX Infrastructure in a report on Wednesday. They set a “neutral” rating and a $130.00 price target for the company. Weiss Ratings upgraded NWPX Infrastructure from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th. Zacks Research lowered NWPX Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, DA Davidson increased their target price on NWPX Infrastructure from $70.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $110.00.

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.