Manchester Capital Management LLC Sells 9,910 Shares of NWPX Infrastructure, Inc. $NWPX

Key Points

• Manchester Capital Management sharply reduced its NWPX Infrastructure stake by 92.5% in the fourth quarter, selling 9,910 shares and leaving it with 800 shares worth about $50,000.
• Several other institutions were active in the stock, and 80.63% of NWPX is now owned by institutional investors, while insiders own 3.30%. Recent insider sales included Director Amanda Julian and EVP Miles Brittain, who together sold more than 6,700 shares.
• NWPX Infrastructure reported strong quarterly results, posting EPS of $1.08 versus the $0.68 consensus and revenue of $138.25 million versus expectations of $125.10 million. The stock was trading near its 52-week high, and analysts currently hold a Moderate Buy consensus with an average price target of $110.

Manchester Capital Management LLC reduced its stake in NWPX Infrastructure, Inc. (NASDAQ:NWPX - Free Report) by 92.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 800 shares of the industrial products company's stock after selling 9,910 shares during the period. Manchester Capital Management LLC's holdings in NWPX Infrastructure were worth $50,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. State of Wyoming bought a new position in NWPX Infrastructure in the fourth quarter worth about $293,000. Goldman Sachs Group Inc. raised its stake in NWPX Infrastructure by 45.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 52,207 shares of the industrial products company's stock worth $3,262,000 after buying an additional 16,213 shares in the last quarter. Legal & General Group Plc raised its stake 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 worth $12,560,000 after buying an additional 6,440 shares in the last quarter. Legato Capital Management LLC bought a new position in NWPX Infrastructure in the fourth quarter worth about $483,000. Finally, LSV Asset Management raised its stake in NWPX Infrastructure by 106.9% in the fourth quarter. LSV Asset Management now owns 143,558 shares of the industrial products company's stock worth $8,971,000 after buying an additional 74,158 shares in the last quarter. 80.63% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Amanda Julian sold 3,473 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $71.98, for a total transaction of $249,986.54. Following the sale, the director owned 10,417 shares in the company, valued at $749,815.66. This represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Miles Brittain sold 3,300 shares of the stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $70.89, for a total transaction of $233,937.00. Following the sale, the executive vice president owned 20,006 shares in the company, valued at approximately $1,418,225.34. The trade was a 14.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,273 shares of company stock worth $662,524 over the last 90 days. 3.30% of the stock is currently owned by insiders.

NWPX Infrastructure Price Performance

Shares of NWPX opened at $122.31 on Thursday. The stock has a market cap of $1.18 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 2.27 and a beta of 1.10. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.06 and a current ratio of 2.68. NWPX Infrastructure, Inc. has a fifty-two week low of $38.38 and a fifty-two week high of $128.29. The firm's 50-day simple moving average is $100.51 and its two-hundred day simple moving average is $79.80.

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 for the quarter, topping analysts' consensus estimates of $0.68 by $0.40. NWPX Infrastructure had a net margin of 7.66% and a return on equity of 10.80%. The business had revenue of $138.25 million for the quarter, compared to analysts' expectations of $125.10 million. Analysts anticipate that NWPX Infrastructure, Inc. will post 4.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Weiss Ratings raised shares of NWPX Infrastructure from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, May 8th. Zacks Research downgraded shares of NWPX Infrastructure from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 28th. Wall Street Zen upgraded shares of NWPX Infrastructure from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 10th. JPMorgan Chase & Co. began coverage on shares of NWPX Infrastructure in a report on Wednesday. They issued a "neutral" rating and a $130.00 price objective on the stock. 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 report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, NWPX Infrastructure has a consensus rating of "Moderate Buy" and an average 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.

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