Legal & General Group Plc purchased a new position in NWPX Infrastructure, Inc. (NASDAQ:NWPX – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 246,726 shares of the industrial products company’s stock, valued at approximately $12,104,000.
Several other hedge funds have also bought and sold shares of the business. BlackRock Inc. purchased a new stake in NWPX Infrastructure in the second quarter worth about $329,209,000. William Blair Investment Management LLC purchased a new position in shares of NWPX Infrastructure during the second quarter valued at approximately $23,010,000. Heartland Advisors Inc. bought a new stake in shares of NWPX Infrastructure in the 2nd quarter worth approximately $20,992,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of NWPX Infrastructure in the 2nd quarter worth approximately $16,659,000. Finally, Deutsche Bank AG purchased a new stake in shares of NWPX Infrastructure in the 2nd quarter worth approximately $3,647,000. Institutional investors own 80.63% of the company’s stock.
Insider Activity at NWPX Infrastructure
In other news, CEO Scott J. Montross sold 2,500 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $115.13, for a total value of $287,825.00. Following the transaction, the chief executive officer directly owned 73,629 shares in the company, valued at $8,476,906.77. This trade represents a 3.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 NWPX Infrastructure stock in a transaction on Monday, August 17th. The stock was sold at an average price of $115.86, for a total value of $144,825.00. Following the completion of the sale, the director directly owned 21,133 shares of the company’s stock, valued at $2,448,469.38. The trade was a 5.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 13,678 shares of company stock valued at $1,601,640 in the last quarter. 3.30% of the stock is currently owned by corporate insiders.
NWPX Infrastructure Stock Performance
NWPX Infrastructure (NASDAQ:NWPX – Get Free Report) last issued its quarterly earnings data 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 company had revenue of $159.48 million for the quarter, compared to the consensus estimate of $154.70 million. As a group, equities research analysts expect that NWPX Infrastructure, Inc. will post 5.43 earnings per share for the current year.
Analyst Ratings Changes
A number of research analysts have issued reports on NWPX shares. Weiss Ratings reiterated a “buy (b)” rating on shares of NWPX Infrastructure in a research note on Wednesday, August 5th. JPMorgan Chase & Co. began coverage on NWPX Infrastructure in a report on Wednesday, June 10th. They set a “neutral” rating and a $130.00 price target for the company. Finally, Wall Street Zen lowered NWPX Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $110.00.
Read Our Latest Analysis on NWPX
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.
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