Principal Financial Group Inc. Acquires New Shares in NWPX Infrastructure, Inc. $NWPX

Principal Financial Group Inc. acquired a new position in shares of NWPX Infrastructure, Inc. (NASDAQ:NWPX) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 13,334 shares of the industrial products company’s stock, valued at approximately $1,038,000.

Other institutional investors also recently bought and sold shares of the company. Wexford Capital LP acquired a new stake in NWPX Infrastructure in the third quarter valued at $29,000. Simplex Trading LLC grew 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 valued at $30,000 after acquiring an additional 320 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new position in NWPX Infrastructure during the 4th quarter valued at about $71,000. Exchange Traded Concepts LLC purchased a new position in NWPX Infrastructure during the 4th quarter valued at about $78,000. Finally, State of Alaska Department of Revenue raised its position in NWPX Infrastructure by 141.5% during the fourth quarter. State of Alaska Department of Revenue now owns 1,287 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 754 shares during the last quarter. 80.63% of the stock is currently owned by hedge funds and other institutional investors.

NWPX Infrastructure Trading Down 3.0%

Shares of NWPX Infrastructure stock opened at $123.08 on Friday. NWPX Infrastructure, Inc. has a fifty-two week low of $40.01 and a fifty-two week high of $152.03. The business’s fifty day moving average is $131.70 and its two-hundred day moving average is $98.89. The company has a quick ratio of 2.06, a current ratio of 2.68 and a debt-to-equity ratio of 0.02. The firm has a market cap of $1.19 billion, a PE ratio of 24.67, a P/E/G ratio of 2.32 and a beta of 1.07.

NWPX Infrastructure (NASDAQ:NWPX) last announced its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $1.62 EPS for the quarter, beating 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 return on equity of 12.40% and a net margin of 8.49%. Analysts anticipate that NWPX Infrastructure, Inc. will post 4.97 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on NWPX shares. Wall Street Zen downgraded shares of NWPX Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 13th. JPMorgan Chase & Co. initiated coverage on shares of NWPX Infrastructure in a research note on Wednesday, June 10th. They set a “neutral” rating and a $130.00 price objective for the company. Weiss Ratings raised NWPX Infrastructure from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. Finally, Zacks Research cut NWPX Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $110.00.

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.