NWPX Infrastructure (NASDAQ:NWPX) Director Keith Larson Sells 1,000 Shares

Key Points

• Director Keith Larson sold 1,000 NWPX shares at an average price of $101.12, generating $101,120. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan and reduced his ownership by 5.67% to 16,633 shares.
• NWPX reported quarterly earnings of $1.62 per share, surpassing estimates of $1.33, while revenue of $159.48 million also exceeded forecasts. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $110.
• The stock traded near $101.18, well below its 52-week high of $152.03, while institutional investors and hedge funds own approximately 80.63% of outstanding shares.

NWPX Infrastructure, Inc. (NASDAQ:NWPX - Get Free Report) Director Keith Larson sold 1,000 shares of the business's stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $101.12, for a total value of $101,120.00. Following the completion of the transaction, the director owned 16,633 shares of the company's stock, valued at $1,681,928.96. This represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

NWPX Infrastructure Stock Down 0.0%

NASDAQ NWPX traded down $0.04 during trading hours on Wednesday, reaching $101.18. 47,867 shares of the company's stock were exchanged, compared to its average volume of 148,405. 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 $975.36 million, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 1.68 and a beta of 1.09. The company's 50-day moving average is $119.33 and its two-hundred day moving average is $108.41. NWPX Infrastructure, Inc. has a one year low of $49.25 and a one year high of $152.03.

NWPX Infrastructure (NASDAQ:NWPX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 8.49% and a return on equity of 12.22%. On average, analysts forecast that NWPX Infrastructure, Inc. will post 5.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NWPX has been the subject of a number of research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of NWPX Infrastructure in a report on Wednesday, August 5th. JPMorgan Chase & Co. began coverage on NWPX Infrastructure in a report on Wednesday, June 10th. They issued a "neutral" rating and a $130.00 price target on the stock. Finally, Wall Street Zen cut NWPX Infrastructure from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 13th. 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's stock. According to data from MarketBeat, NWPX Infrastructure presently has a consensus rating of "Moderate Buy" and an average target price of $110.00.

Hedge Funds Weigh In On NWPX Infrastructure

A number of institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG acquired a new stake in NWPX Infrastructure during the 2nd quarter valued at $1,425,000. BlackRock Inc. acquired a new position in shares of NWPX Infrastructure in the second quarter valued at $135,365,000. Legal & General Group Plc increased its holdings in shares of 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 valued at $12,560,000 after purchasing an additional 6,440 shares during the last quarter. Crown Advisors Management Inc. bought a new position in shares of NWPX Infrastructure in the second quarter valued at about $10,496,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of NWPX Infrastructure in the first quarter valued at about $1,770,000. 80.63% of the stock is currently owned by institutional investors and hedge funds.

About NWPX Infrastructure

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.