Royce & Associates LP Cuts Stock Holdings in NWPX Infrastructure, Inc. $NWPX

Key Points

• Royce & Associates LP trimmed its NWPX Infrastructure stake by 5.6% in the fourth quarter, selling 29,882 shares and ending with 507,306 shares valued at about $31.7 million.
• Several analysts remain constructive on the stock: the consensus rating is Buy with a $90 average target, though Zacks recently downgraded NWPX from strong-buy to hold.
• NWPX reported better-than-expected quarterly results, with EPS of $1.08 versus $0.68 expected and revenue of $138.25 million versus $125.10 million estimated; the stock also traded near its 52-week high at $112.26.

Royce & Associates LP reduced its position in shares of NWPX Infrastructure, Inc. (NASDAQ:NWPX - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 507,306 shares of the industrial products company's stock after selling 29,882 shares during the period. Royce & Associates LP owned 5.28% of NWPX Infrastructure worth $31,702,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in 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 buying an additional 16,434 shares in the last quarter. SummerHaven Investment Management LLC purchased a new stake in NWPX Infrastructure during the 3rd quarter worth approximately $1,053,000. LSV Asset Management boosted its stake in NWPX Infrastructure by 166.9% during the 3rd quarter. LSV Asset Management now owns 69,400 shares of the industrial products company's stock worth $3,673,000 after purchasing an additional 43,398 shares during the last quarter. Ellsworth Advisors LLC acquired a new stake in NWPX Infrastructure during the 4th quarter worth $1,031,000. Finally, CenterBook Partners LP acquired a new stake in NWPX Infrastructure during the 3rd quarter worth $1,643,000. 80.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NWPX. Zacks Research cut shares of NWPX Infrastructure from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. DA Davidson raised their price target on shares of NWPX Infrastructure from $70.00 to $90.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. Wall Street Zen raised shares of NWPX Infrastructure from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 10th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, NWPX Infrastructure presently has an average rating of "Buy" and a consensus target price of $90.00.

NWPX Infrastructure Stock Performance

Shares of NWPX Infrastructure stock opened at $112.26 on Tuesday. The stock has a market cap of $1.08 billion, a P/E ratio of 26.23, a P/E/G ratio of 2.07 and a beta of 1.06. The stock's 50 day simple moving average is $89.54 and its 200-day simple moving average is $74.50. NWPX Infrastructure, Inc. has a 1-year low of $37.99 and a 1-year high of $114.27. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.68 and a quick ratio of 2.06.

NWPX Infrastructure (NASDAQ:NWPX - Get Free Report) last issued its earnings results on Wednesday, April 29th. The industrial products company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.40. The business had revenue of $138.25 million for the quarter, compared to analysts' expectations of $125.10 million. NWPX Infrastructure had a return on equity of 10.80% and a net margin of 7.66%. Analysts predict that NWPX Infrastructure, Inc. will post 4.94 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Scott J. Montross sold 2,500 shares of the business's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $71.44, for a total transaction of $178,600.00. Following the transaction, the chief executive officer directly owned 65,977 shares in the company, valued at $4,713,396.88. The trade was a 3.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Amanda Julian sold 3,473 shares of the business's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $71.98, for a total value of $249,986.54. Following the transaction, the director owned 10,417 shares in the company, valued at approximately $749,815.66. This represents a 25.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 20,273 shares of company stock valued at $1,490,019. 3.20% of the stock is currently owned by company insiders.

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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