Magellan Asset Management Ltd Purchases Shares of 46,167 NWPX Infrastructure, Inc. $NWPX

Magellan Asset Management Ltd purchased a new stake in NWPX Infrastructure, Inc. (NASDAQ:NWPX) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 46,167 shares of the industrial products company’s stock, valued at approximately $2,265,000. Magellan Asset Management Ltd owned approximately 0.48% of NWPX Infrastructure as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of NWPX. AQR Capital Management LLC boosted its stake in NWPX Infrastructure by 274.8% in the first quarter. AQR Capital Management LLC now owns 28,887 shares of the industrial products company’s stock valued at $1,193,000 after acquiring an additional 21,179 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of NWPX Infrastructure during the first quarter valued at $224,000. Goldman Sachs Group Inc. increased its holdings 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 valued at $1,835,000 after purchasing an additional 6,510 shares during the period. Empowered Funds LLC raised its position in NWPX Infrastructure by 5.6% during the 1st quarter. Empowered Funds LLC now owns 48,369 shares of the industrial products company’s stock worth $1,998,000 after buying an additional 2,547 shares during 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 purchasing an additional 1,127 shares during the last quarter. Hedge funds and other institutional investors own 80.63% of the company’s stock.

Insider Activity

In related news, CEO Scott J. Montross sold 2,500 shares of NWPX Infrastructure stock in a transaction on Monday, August 10th. The shares were sold at an average price of $118.74, for a total value of $296,850.00. Following the sale, the chief executive officer owned 76,129 shares of the company’s stock, valued at approximately $9,039,557.46. This trade represents a 3.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $115.86, for a total transaction of $144,825.00. Following the completion of the sale, the director directly owned 21,133 shares of the company’s stock, valued at approximately $2,448,469.38. The trade was 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. Insiders have sold 9,178 shares of company stock worth $1,102,410 in the last quarter. Corporate insiders own 3.30% of the company’s stock.

NWPX Infrastructure Price Performance

NASDAQ:NWPX opened at $110.08 on Monday. The company has a quick ratio of 1.94, a current ratio of 2.71 and a debt-to-equity ratio of 0.02. NWPX Infrastructure, Inc. has a 52 week low of $49.25 and a 52 week high of $152.03. The stock’s 50-day moving average price is $130.46 and its 200-day moving average price is $104.26. The stock has a market capitalization of $1.06 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 1.84 and a beta of 1.09.

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

Wall Street Analyst Weigh In

Several research firms recently commented on NWPX. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NWPX Infrastructure in a report on Wednesday, August 5th. JPMorgan Chase & Co. started coverage on NWPX Infrastructure in a report on Wednesday, June 10th. They issued a “neutral” rating and a $130.00 price target for the company. Wall Street Zen lowered NWPX Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 13th. Finally, Zacks Research cut shares of NWPX Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. One research 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.com, NWPX Infrastructure presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

NWPX Infrastructure Company 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.