NWPX Infrastructure, Inc. $NWPX Shares Newly Purchased by Bank of America Corp DE

Key Points

• Bank of America purchased 28,065 shares of NWPX Infrastructure during the second quarter, valued at approximately $4.2 million, while institutional investors collectively own 80.63% of the company.
• NWPX reported quarterly EPS of $1.62, beating consensus estimates of $1.33, and revenue of $159.48 million versus expectations of $154.70 million.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $110.00. Shares opened at $103.11, while insiders have sold 28,101 shares worth roughly $3.13 million over the past 90 days.

Bank of America Corp DE bought a new stake in NWPX Infrastructure, Inc. (NASDAQ:NWPX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 28,065 shares of the industrial products company's stock, valued at approximately $4,208,000. Bank of America Corp DE owned about 0.29% of NWPX Infrastructure as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of NWPX. Meeder Asset Management Inc. bought a new position in shares of NWPX Infrastructure during the 2nd quarter worth approximately $41,000. State of Wyoming bought a new position in NWPX Infrastructure in the second quarter valued at $98,000. Central Pacific Bank Trust Division bought a new position in NWPX Infrastructure in the second quarter valued at $156,000. Quantbot Technologies LP acquired a new stake in NWPX Infrastructure in the 2nd quarter valued at $197,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in NWPX Infrastructure in the 1st quarter valued at $201,000. Institutional investors own 80.63% of the company's stock.

Insider Activity

In other news, Director Richard Roman sold 4,000 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $105.72, for a total value of $422,880.00. Following the transaction, the director directly owned 30,340 shares of the company's stock, valued at $3,207,544.80. This represents a 11.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Scott Montross sold 2,500 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $118.74, for a total transaction of $296,850.00. Following the sale, the chief executive officer owned 76,129 shares of the company's stock, valued at approximately $9,039,557.46. This represents a 3.18% 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. Over the last 90 days, insiders sold 28,101 shares of company stock valued at $3,129,280. 3.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of NWPX Infrastructure from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 13th. JPMorgan Chase & Co. assumed coverage on NWPX Infrastructure in a research report on Wednesday, June 10th. They set a "neutral" rating and a $130.00 price target for the company. Finally, Weiss Ratings restated a "buy (b)" rating on shares of NWPX Infrastructure in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $110.00.

NWPX Infrastructure Trading Up 0.3%

Shares of NASDAQ:NWPX opened at $103.11 on Tuesday. NWPX Infrastructure, Inc. has a 52-week low of $49.25 and a 52-week high of $152.03. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.94 and a current ratio of 2.71. The company has a market capitalization of $993.98 million, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 1.72 and a beta of 1.09. The company has a 50-day simple moving average of $113.40 and a 200 day simple moving average of $109.92.

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

NWPX Infrastructure Company Profile

NWPX Infrastructure, formerly known as Northwest Pipe Company, is an infrastructure manufacturer focused on products used in water transmission, treatment, and management systems. The company designs and produces engineered pipeline systems and related infrastructure for municipal water agencies, utilities, contractors, and other public and private-sector customers.

Its product portfolio includes steel pressure pipe, reinforced concrete pressure pipe, bar-wrapped concrete cylinder pipe, fittings, and other specialized pipeline components.

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