Legal & General Group Plc Buys New Stake in NWPX Infrastructure, Inc. $NWPX

Legal & General Group Plc bought a new stake in shares of NWPX Infrastructure, Inc. (NASDAQ:NWPXFree Report) during the second quarter, HoldingsChannel reports. The fund bought 285,122 shares of the industrial products company’s stock, valued at approximately $42,751,000.

Several other hedge funds also recently bought and sold shares of NWPX. LSV Asset Management raised its holdings in shares of NWPX Infrastructure by 106.9% in the fourth quarter. LSV Asset Management now owns 143,558 shares of the industrial products company’s stock valued at $8,971,000 after purchasing an additional 74,158 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in NWPX Infrastructure during the first quarter worth $1,770,000. Crown Advisors Management Inc. acquired a new position in NWPX Infrastructure during the second quarter worth $10,496,000. Sei Investments Co. grew its position in NWPX Infrastructure by 99.3% in the first quarter. Sei Investments Co. now owns 19,577 shares of the industrial products company’s stock valued at $1,524,000 after purchasing an additional 9,752 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in NWPX Infrastructure in the 1st quarter valued at $3,339,000. Hedge funds and other institutional investors own 80.63% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Aaron Wilkins sold 428 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $120.00, for a total value of $51,360.00. Following the completion of the sale, the chief financial officer directly owned 25,898 shares of the company’s stock, valued at $3,107,760. This trade represents a 1.63% decrease in their ownership of the stock. 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 the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were 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 approximately $2,448,469.38. The trade was a 5.58% decrease in their ownership of the stock. 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 sold 13,678 shares of company stock worth $1,601,640 in the last three months. 3.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Get Our Latest Research Report on NWPX

NWPX Infrastructure Stock Performance

Shares of NWPX opened at $112.03 on Friday. The firm has a 50-day moving average of $128.04 and a 200-day moving average of $105.46. NWPX Infrastructure, Inc. has a one year low of $49.25 and a one year high of $152.03. The company has a market cap of $1.08 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 1.91 and a beta of 1.09. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.71 and a quick ratio of 1.94.

NWPX Infrastructure (NASDAQ:NWPXGet Free Report) last issued its earnings results on Wednesday, July 29th. The industrial products company reported $1.62 earnings per share (EPS) 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 analysts’ expectations of $154.70 million. As a group, equities analysts forecast that NWPX Infrastructure, Inc. will post 5.43 earnings per share for the current year.

NWPX Infrastructure Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for NWPX Infrastructure (NASDAQ:NWPX)

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