Ellsworth Advisors LLC Purchases New Shares in NWPX Infrastructure, Inc. $NWPX

Key Points

• Ellsworth Advisors initiated a new position in NWPX, buying 14,884 shares worth about $1,031,000; institutional investors now own roughly 80.63% of the company.
• Wall Street sentiment is bullish with a consensus rating of "Strong Buy" and a consensus price target of $90, following several recent upgrades and price-target increases.
• NWPX recently beat estimates with Q4 EPS of $0.93 (vs. $0.62 est.) and revenue of $125.6M, the stock trades near its 52-week high (~$80) while insiders sold ~20,273 shares (~$1.49M) in the last 90 days.

Ellsworth Advisors LLC purchased a new position in shares of NWPX Infrastructure, Inc. (NASDAQ:NWPX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,884 shares of the industrial products company's stock, valued at approximately $1,031,000. Ellsworth Advisors LLC owned 0.15% of NWPX Infrastructure as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in shares of NWPX Infrastructure by 19.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 101,961 shares of the industrial products company's stock worth $6,372,000 after purchasing an additional 16,434 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of NWPX Infrastructure in the fourth quarter valued at approximately $78,000. Byrne Asset Management LLC boosted its stake in shares of NWPX Infrastructure by 58.0% in the fourth quarter. Byrne Asset Management LLC now owns 4,192 shares of the industrial products company's stock valued at $262,000 after buying an additional 1,539 shares during the period. SG Americas Securities LLC grew its position in NWPX Infrastructure by 99.5% during the fourth quarter. SG Americas Securities LLC now owns 4,842 shares of the industrial products company's stock worth $303,000 after buying an additional 2,415 shares in the last quarter. Finally, Wexford Capital LP acquired a new stake in NWPX Infrastructure during the third quarter worth approximately $29,000. Institutional investors and hedge funds own 80.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NWPX shares. Wall Street Zen cut NWPX Infrastructure from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 8th. Weiss Ratings upgraded NWPX Infrastructure from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, March 24th. Zacks Research raised NWPX Infrastructure from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 2nd. Finally, DA Davidson upped their price objective on shares of NWPX Infrastructure from $70.00 to $90.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Strong Buy" and a consensus price target of $90.00.

NWPX Infrastructure Trading Up 2.7%

Shares of NWPX stock opened at $79.99 on Thursday. NWPX Infrastructure, Inc. has a fifty-two week low of $36.97 and a fifty-two week high of $83.12. The stock's fifty day moving average price is $73.92 and its two-hundred day moving average price is $63.86. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.66 and a current ratio of 3.78. The company has a market cap of $765.50 million, a PE ratio of 22.28, a P/E/G ratio of 1.67 and a beta of 0.92.

NWPX Infrastructure (NASDAQ:NWPX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The industrial products company reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.31. The company had revenue of $125.64 million during the quarter, compared to analysts' expectations of $122.00 million. NWPX Infrastructure had a return on equity of 9.27% and a net margin of 6.73%. Equities analysts predict that NWPX Infrastructure, Inc. will post 3.32 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Megan A. Kendrick sold 4,500 shares of NWPX Infrastructure stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $80.59, for a total transaction of $362,655.00. Following the sale, the vice president directly owned 6,996 shares of the company's stock, valued at approximately $563,807.64. The trade was a 39.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Miles Brittain sold 4,000 shares of the company's stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $71.01, for a total transaction of $284,040.00. Following the transaction, the executive vice president owned 23,306 shares of the company's stock, valued at approximately $1,654,959.06. This represents a 14.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 20,273 shares of company stock worth $1,490,019 in the last ninety days. Insiders own 3.20% of the company's stock.

NWPX Infrastructure Company 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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