Michael Wray Sells 4,500 Shares of NWPX Infrastructure (NASDAQ:NWPX) Stock

Key Points

• EVP Michael Wray sold 4,500 NWPX shares at an average price of $110.94, generating $499,230. The Rule 10b5-1 transaction reduced his holdings by 15.85% to 23,886 shares.
• NWPX shares traded at $112.03, with a market capitalization of approximately $1.08 billion; the stock has ranged from $49.25 to $152.03 over the past 52 weeks.
• The company exceeded quarterly expectations, reporting EPS of $1.62 versus the $1.33 consensus and revenue of $159.48 million. Analysts maintain a “Moderate Buy” consensus, with an average price target of $110.

NWPX Infrastructure, Inc. (NASDAQ:NWPX - Get Free Report) EVP Michael Wray sold 4,500 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $110.94, for a total value of $499,230.00. Following the completion of the sale, the executive vice president owned 23,886 shares in the company, valued at $2,649,912.84. This trade represents a 15.85% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

NWPX Infrastructure Price Performance

NWPX Infrastructure stock traded down $2.25 during midday trading on Friday, hitting $112.03. 106,031 shares of the company's stock were exchanged, compared to its average volume of 147,767. NWPX Infrastructure, Inc. has a 52-week low of $49.25 and a 52-week high of $152.03. The stock has a 50-day moving average price of $128.58 and a two-hundred day moving average price of $105.41. 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 cap of $1.08 billion, a P/E ratio of 22.45, a PEG ratio of 1.88 and a beta of 1.09.

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, beating the consensus estimate of $1.33 by $0.29. The firm had revenue of $159.48 million for the quarter, compared to analysts' expectations of $154.70 million. NWPX Infrastructure had a return on equity of 12.22% and a net margin of 8.49%. On average, equities research analysts forecast that NWPX Infrastructure, Inc. will post 5.43 earnings per share for the current year.

Hedge Funds Weigh In On NWPX Infrastructure

Several institutional investors have recently modified their holdings of the company. Wexford Capital LP bought a new position in shares of NWPX Infrastructure during the third quarter valued at about $29,000. Simplex Trading LLC increased its holdings in shares of NWPX Infrastructure by 193.9% in the fourth quarter. Simplex Trading LLC now owns 485 shares of the industrial products company's stock worth $30,000 after buying an additional 320 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of NWPX Infrastructure in the 2nd quarter valued at about $41,000. State of Wyoming bought a new stake in shares of NWPX Infrastructure in the 2nd quarter valued at about $60,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in NWPX Infrastructure during the 4th quarter valued at about $71,000. 80.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NWPX. JPMorgan Chase & Co. assumed coverage on shares of NWPX Infrastructure in a research report on Wednesday, June 10th. They set a "neutral" rating and a $130.00 target price for the company. Wall Street Zen lowered shares of NWPX Infrastructure from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 13th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of NWPX Infrastructure in a research report on Wednesday, August 5th. One 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. Based on data from MarketBeat.com, NWPX Infrastructure presently has a consensus 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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