BlackRock Inc. Takes $329.21 Million Position in NWPX Infrastructure, Inc. $NWPX

Key Points

• BlackRock acquired a $329.2 million stake in NWPX Infrastructure, purchasing 6.71 million shares and becoming the company’s largest reported institutional holder with approximately 69.63% ownership.
• NWPX reported quarterly EPS of $1.62, beating estimates of $1.33, while revenue of $159.48 million also exceeded expectations. Analysts maintain a “Moderate Buy” consensus with a $110 price target.
• Institutional investors own 80.63% of NWPX, while insiders have sold 9,178 shares worth about $1.1 million over the past 90 days, including sales by the CEO and a director under pre-arranged trading plans.

BlackRock Inc. bought a new stake in NWPX Infrastructure, Inc. (NASDAQ:NWPX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,710,338 shares of the industrial products company's stock, valued at approximately $329,209,000. BlackRock Inc. owned approximately 69.63% of NWPX Infrastructure as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Deutsche Bank AG bought a new position in NWPX Infrastructure during the second quarter valued at about $3,647,000. LSV Asset Management lifted its holdings in NWPX Infrastructure by 106.9% in the 4th quarter. LSV Asset Management now owns 143,558 shares of the industrial products company's stock valued at $8,971,000 after acquiring an additional 74,158 shares during the last quarter. Crown Advisors Management Inc. bought a new position in shares of NWPX Infrastructure during the 2nd quarter valued at about $10,496,000. Franklin Resources Inc. boosted its position in shares of NWPX Infrastructure by 527.6% during the 4th quarter. Franklin Resources Inc. now owns 70,923 shares of the industrial products company's stock valued at $4,432,000 after purchasing an additional 59,623 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of NWPX Infrastructure in the 1st quarter worth approximately $4,609,000. 80.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NWPX has been the topic of a number of research reports. 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 report on Wednesday, June 10th. They issued a "neutral" rating and a $130.00 price target on the stock. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of NWPX Infrastructure in a report on Wednesday, August 5th. One research 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 MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $110.00.

NWPX Infrastructure Trading Up 1.6%

Shares of NWPX opened at $112.39 on Thursday. The business's 50-day moving average price is $129.08 and its 200 day moving average price is $105.13. The company has a current ratio of 2.71, a quick ratio of 1.94 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $1.08 billion, a P/E ratio of 22.52, a P/E/G ratio of 1.85 and a beta of 1.09. NWPX Infrastructure, Inc. has a 1-year low of $49.25 and a 1-year high of $152.03.

NWPX Infrastructure (NASDAQ:NWPX - Get Free Report) last posted 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 company had revenue of $159.48 million during the quarter, compared to analyst estimates of $154.70 million. NWPX Infrastructure had a net margin of 8.49% and a return on equity of 12.22%. Analysts expect that NWPX Infrastructure, Inc. will post 5.43 earnings per share for the current year.

Insider Activity at NWPX Infrastructure

In other NWPX Infrastructure news, Director Keith R. Larson sold 1,250 shares of NWPX Infrastructure stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $115.86, for a total transaction of $144,825.00. Following the transaction, the director directly owned 21,133 shares in the company, valued at approximately $2,448,469.38. The trade was a 5.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Scott J. Montross sold 2,500 shares of the business's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $115.13, for a total transaction of $287,825.00. Following the sale, the chief executive officer directly owned 73,629 shares in the company, valued at approximately $8,476,906.77. This trade represents a 3.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 9,178 shares of company stock worth $1,102,410. 3.30% of the stock is owned by corporate insiders.

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.

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