Concurrent Investment Advisors LLC Takes $3.06 Million Position in NWPX Infrastructure, Inc. $NWPX

Key Points

• Concurrent Investment Advisors purchased 20,429 shares of NWPX Infrastructure valued at approximately $3.06 million, while other institutions—including BlackRock—also established or increased positions. Institutional investors collectively own 80.63% of the company.
• Analyst sentiment remains positive, with NWPX holding a “Moderate Buy” consensus rating and an average price target of $110. JPMorgan initiated coverage with a neutral rating and a $130 target.
• NWPX exceeded quarterly expectations, reporting $1.62 in earnings per share versus the $1.33 consensus estimate and revenue of $159.48 million. Shares opened at $107.68, while insiders have sold $1.87 million worth of stock over the past 90 days.

Concurrent Investment Advisors LLC purchased a new stake in shares of NWPX Infrastructure, Inc. (NASDAQ:NWPX - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 20,429 shares of the industrial products company's stock, valued at approximately $3,063,000. Concurrent Investment Advisors LLC owned 0.21% of NWPX Infrastructure as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Deutsche Bank AG bought a new stake in NWPX Infrastructure during the 2nd quarter worth approximately $1,425,000. BlackRock Inc. bought a new position in NWPX Infrastructure in the 2nd quarter valued at $135,365,000. Legal & General Group Plc boosted its holdings in NWPX Infrastructure by 3.3% in the 4th quarter. Legal & General Group Plc now owns 200,985 shares of the industrial products company's stock valued at $12,560,000 after purchasing an additional 6,440 shares during the period. Crown Advisors Management Inc. purchased a new position in shares of NWPX Infrastructure during the 2nd quarter valued at $10,496,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of NWPX Infrastructure during the 1st quarter valued at $1,770,000. 80.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NWPX shares. JPMorgan Chase & Co. initiated coverage on shares of NWPX Infrastructure in a report on Wednesday, June 10th. They issued a "neutral" rating and a $130.00 price target on the stock. Wall Street Zen lowered NWPX Infrastructure from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 13th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of NWPX Infrastructure in a research note on Wednesday, August 5th. One 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. Based on data from MarketBeat.com, NWPX Infrastructure currently has an average rating of "Moderate Buy" and an average price target of $110.00.

Insider Activity at NWPX Infrastructure

In related news, CFO Aaron Wilkins sold 428 shares of the stock in a transaction 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 transaction, the chief financial officer owned 25,898 shares of the company's stock, valued at $3,107,760. This represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Wray sold 4,500 shares of the firm's stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $110.94, for a total value of $499,230.00. Following the sale, the executive vice president owned 23,886 shares in the company, valued at $2,649,912.84. The trade was a 15.85% 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 a total of 16,081 shares of company stock valued at $1,866,732 over the last ninety days. 3.30% of the stock is currently owned by insiders.

NWPX Infrastructure Stock Performance

Shares of NWPX Infrastructure stock opened at $107.68 on Tuesday. 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, Inc. has a 1 year low of $49.25 and a 1 year high of $152.03. The firm has a market cap of $1.04 billion, a PE ratio of 21.58, a PEG ratio of 1.80 and a beta of 1.09. The company has a 50 day simple moving average of $123.79 and a two-hundred day simple moving average of $107.12.

NWPX Infrastructure (NASDAQ:NWPX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.29. NWPX Infrastructure had a net margin of 8.49% and a return on equity of 12.22%. The firm had revenue of $159.48 million for the quarter, compared to analysts' expectations of $154.70 million. Analysts expect that NWPX Infrastructure, Inc. will post 5.43 earnings per share for the current fiscal year.

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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