NewEdge Wealth LLC Makes New $1.92 Million Investment in NWPX Infrastructure, Inc. $NWPX

Key Points

• NewEdge Wealth acquired 12,835 NWPX shares worth approximately $1.92 million during the second quarter, giving it a roughly 0.13% stake. Institutional investors collectively own 80.63% of the company.
• NWPX reported quarterly EPS of $1.62, beating estimates of $1.33, while revenue of $159.48 million exceeded the $154.70 million consensus forecast.
• Analyst sentiment remains moderately bullish, with an average “Moderate Buy” rating and a $110 price target. However, company insiders sold 9,178 shares worth about $1.10 million over the past three months.

NewEdge Wealth LLC acquired a new stake in shares of NWPX Infrastructure, Inc. (NASDAQ:NWPX - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,835 shares of the industrial products company's stock, valued at approximately $1,924,000. NewEdge Wealth LLC owned approximately 0.13% of NWPX Infrastructure as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC raised its position in shares of NWPX Infrastructure by 274.8% during the 1st quarter. AQR Capital Management LLC now owns 28,887 shares of the industrial products company's stock worth $1,193,000 after purchasing an additional 21,179 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in NWPX Infrastructure in the 1st quarter worth about $224,000. Goldman Sachs Group Inc. boosted its holdings in NWPX Infrastructure by 17.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 44,427 shares of the industrial products company's stock worth $1,835,000 after buying an additional 6,510 shares during the last quarter. Empowered Funds LLC boosted its holdings in NWPX Infrastructure by 5.6% in the 1st quarter. Empowered Funds LLC now owns 48,369 shares of the industrial products company's stock worth $1,998,000 after buying an additional 2,547 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in NWPX Infrastructure by 3.7% during the 2nd quarter. First Trust Advisors LP now owns 31,897 shares of the industrial products company's stock worth $1,308,000 after buying an additional 1,127 shares in the last quarter. Institutional investors and hedge funds own 80.63% of the company's stock.

NWPX Infrastructure Price Performance

NWPX stock opened at $109.82 on Friday. 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 business has a 50 day simple moving average of $130.83 and a 200-day simple moving average of $103.96. The firm has a market capitalization of $1.06 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 1.87 and a beta of 1.09. NWPX Infrastructure, Inc. has a 1 year low of $49.25 and a 1 year high of $152.03.

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

Insider Buying and Selling at NWPX Infrastructure

In other news, CFO Aaron Wilkins sold 428 shares of NWPX Infrastructure stock in a transaction on Monday, August 10th. The stock was sold at an average price of $120.00, for a total transaction of $51,360.00. Following the transaction, the chief financial officer owned 25,898 shares in the company, valued at $3,107,760. The trade was a 1.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Scott J. Montross sold 2,500 shares of the business's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $115.13, for a total transaction of $287,825.00. Following the transaction, the chief executive officer directly owned 73,629 shares in the company, valued at approximately $8,476,906.77. The trade was a 3.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 9,178 shares of company stock worth $1,102,410 in the last three months. 3.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NWPX shares. Zacks Research downgraded NWPX Infrastructure from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. Weiss Ratings reiterated a "buy (b)" rating on shares of NWPX Infrastructure in a research report on Wednesday, August 5th. JPMorgan Chase & Co. started coverage on NWPX Infrastructure in a research note on Wednesday, June 10th. They issued a "neutral" rating and a $130.00 price objective for the company. Finally, Wall Street Zen lowered NWPX Infrastructure from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 13th. One equities research 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $110.00.

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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