Empowered Funds LLC Invests $7 Million in NWPX Infrastructure, Inc. $NWPX

Key Points

• Empowered Funds LLC acquired 46,667 shares of NWPX Infrastructure in the second quarter, valued at approximately $7 million, giving it a 0.48% stake. Institutional investors collectively own 80.63% of the company.
• NWPX reported quarterly earnings of $1.62 per share, beating estimates of $1.33, while revenue of $159.48 million also exceeded expectations. Analysts have a consensus “Moderate Buy” rating with an average price target of $110.
• Company insiders sold 13,678 shares worth approximately $1.6 million over the last quarter, including sales by the CFO and an executive vice president under pre-arranged trading plans.

Empowered Funds LLC bought a new position in shares of NWPX Infrastructure, Inc. (NASDAQ:NWPX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 46,667 shares of the industrial products company's stock, valued at approximately $6,997,000. Empowered Funds LLC owned approximately 0.48% of NWPX Infrastructure as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Deutsche Bank AG acquired a new stake in shares of NWPX Infrastructure in the second quarter worth $1,425,000. BlackRock Inc. acquired a new position in shares of NWPX Infrastructure during the 2nd quarter valued at $135,365,000. Legal & General Group Plc raised its position in NWPX Infrastructure by 3.3% in the fourth 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 NWPX Infrastructure in the second quarter valued at about $10,496,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in NWPX Infrastructure in the first quarter valued at about $1,770,000. Hedge funds and other institutional investors own 80.63% of the company's stock.

Insider Buying and Selling

In other news, CFO Aaron Wilkins sold 428 shares of the business's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $120.00, for a total transaction of $51,360.00. Following the completion of the transaction, the chief financial officer owned 25,898 shares of the company's stock, valued at approximately $3,107,760. The trade was a 1.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 company's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $110.94, for a total transaction of $499,230.00. Following the transaction, the executive vice president owned 23,886 shares of the company's stock, valued at $2,649,912.84. This represents a 15.85% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 13,678 shares of company stock worth $1,601,640. 3.30% of the stock is owned by company insiders.

NWPX Infrastructure Stock Performance

Shares of NWPX stock opened at $112.03 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.71 and a quick ratio of 1.94. The company's fifty day moving average price is $128.04 and its two-hundred day moving average price is $105.67. The firm has a market capitalization of $1.08 billion, a P/E ratio of 22.45, a P/E/G ratio of 1.88 and a beta of 1.09. NWPX Infrastructure, Inc. has a 12 month low of $49.25 and a 12 month high of $152.03.

NWPX Infrastructure (NASDAQ:NWPX - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $1.62 earnings per share for the quarter, topping 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 business had revenue of $159.48 million during the quarter, compared to the consensus estimate of $154.70 million. On average, research analysts anticipate that NWPX Infrastructure, Inc. will post 5.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NWPX shares. Wall Street Zen downgraded NWPX Infrastructure from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 13th. Weiss Ratings reissued a "buy (b)" rating on shares of NWPX Infrastructure in a research report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. assumed coverage on NWPX Infrastructure in a report on Wednesday, June 10th. They issued a "neutral" rating and a $130.00 price target for the company. One 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price 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.

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