Congruence Capital LLC Purchases New Shares in NWPX Infrastructure, Inc. $NWPX

Key Points

• Congruence Capital LLC opened a new position in NWPX Infrastructure, buying 56,135 shares worth about $3.5 million. The stake represents roughly 1.3% of its portfolio and 0.58% of NWPX’s shares.
• Several company insiders sold shares recently, including EVP Miles Brittain and Director Amanda Julian. Insiders sold 9,273 shares in the last three months, though they still own 3.30% of the company.
• NWPX reported strong quarterly results, with EPS of $1.08 and revenue of $138.25 million, both above estimates. Despite mixed analyst rating changes, the stock has a consensus rating of Moderate Buy with a $110 price target.

Congruence Capital LLC purchased a new stake in NWPX Infrastructure, Inc. (NASDAQ:NWPX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 56,135 shares of the industrial products company's stock, valued at approximately $3,508,000. NWPX Infrastructure accounts for approximately 1.3% of Congruence Capital LLC's investment portfolio, making the stock its 25th biggest position. Congruence Capital LLC owned 0.58% of NWPX Infrastructure as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of NWPX. Wexford Capital LP acquired a new position in shares of NWPX Infrastructure in the 3rd quarter valued at $29,000. Simplex Trading LLC boosted its position in shares of NWPX Infrastructure by 193.9% in the 4th quarter. Simplex Trading LLC now owns 485 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 320 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of NWPX Infrastructure in the 4th quarter valued at $78,000. State of Alaska Department of Revenue boosted its position in shares of NWPX Infrastructure by 141.5% in the 4th quarter. State of Alaska Department of Revenue now owns 1,287 shares of the industrial products company's stock valued at $80,000 after purchasing an additional 754 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of NWPX Infrastructure in the 2nd quarter valued at $163,000. Institutional investors and hedge funds own 80.63% of the company's stock.

Insider Transactions at NWPX Infrastructure

In other news, EVP Miles Brittain sold 3,300 shares of the firm's stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $70.89, for a total transaction of $233,937.00. Following the completion of the sale, the executive vice president directly owned 20,006 shares of the company's stock, valued at $1,418,225.34. This trade represents a 14.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amanda Julian sold 3,473 shares of the firm's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $71.98, for a total value of $249,986.54. Following the sale, the director directly owned 10,417 shares of the company's stock, valued at $749,815.66. This trade represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 9,273 shares of company stock valued at $662,524 in the last three months. Corporate insiders own 3.30% of the company's stock.

NWPX Infrastructure Stock Down 0.3%

Shares of NWPX Infrastructure stock opened at $128.85 on Friday. The stock has a 50-day moving average price of $102.52 and a 200 day moving average price of $80.66. The company has a market cap of $1.24 billion, a P/E ratio of 30.11, a P/E/G ratio of 2.37 and a beta of 1.10. The company has a current ratio of 2.68, a quick ratio of 2.06 and a debt-to-equity ratio of 0.02. NWPX Infrastructure, Inc. has a 1 year low of $38.38 and a 1 year high of $133.80.

NWPX Infrastructure (NASDAQ:NWPX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.40. NWPX Infrastructure had a return on equity of 10.80% and a net margin of 7.66%.The firm had revenue of $138.25 million during the quarter, compared to the consensus estimate of $125.10 million. As a group, analysts expect that NWPX Infrastructure, Inc. will post 4.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Zacks Research downgraded NWPX Infrastructure from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 28th. Wall Street Zen downgraded NWPX Infrastructure from a "strong-buy" rating to a "buy" rating in a research note on Saturday. JPMorgan Chase & Co. assumed coverage on NWPX Infrastructure in a research note on Wednesday. They issued a "neutral" rating and a $130.00 price objective for the company. Weiss Ratings raised NWPX Infrastructure from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, May 8th. Finally, DA Davidson increased their price objective on NWPX Infrastructure from $70.00 to $90.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $110.00.

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.

Want to see what other hedge funds are holding NWPX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NWPX Infrastructure, Inc. (NASDAQ:NWPX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.