NWPX Infrastructure (NASDAQ:NWPX) Issues Quarterly Earnings Results

Key Points

• NWPX Infrastructure beat estimates: Q earnings of $1.08 EPS topped the $0.56 consensus and revenue was $138.25 million versus $122.73 million, with a net margin of 6.73% and ROE of 9.27%.
• Shares traded down to $86.01 despite the beat; the company has a market cap of $829M and a P/E of 23.96, while analysts' average rating is "Strong Buy" with an average target of $90.
• Insiders have sold about 20,273 shares (~$1.49M) in the last 90 days, even as institutional ownership stands at 80.63% after notable buying from firms like Franklin, Millennium, AQR, Bank of America and Goldman Sachs.

NWPX Infrastructure (NASDAQ:NWPX - Get Free Report) issued its earnings results on Wednesday. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.52, FiscalAI reports. NWPX Infrastructure had a net margin of 6.73% and a return on equity of 9.27%. The company had revenue of $138.25 million for the quarter, compared to analysts' expectations of $122.73 million.

NWPX Infrastructure Stock Performance

NWPX stock traded down $0.85 during trading on Wednesday, reaching $86.01. The company had a trading volume of 184,523 shares, compared to its average volume of 107,804. The firm has a 50-day simple moving average of $78.41 and a 200-day simple moving average of $68.06. The company has a market cap of $829.14 million, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 1.81 and a beta of 0.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.66 and a current ratio of 3.78. NWPX Infrastructure has a twelve month low of $36.97 and a twelve month high of $89.24.

Analyst Upgrades and Downgrades

NWPX has been the topic of several recent research reports. DA Davidson increased their target price on shares of NWPX Infrastructure from $70.00 to $90.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. Wall Street Zen lowered shares of NWPX Infrastructure from a "buy" rating to a "hold" rating in a report on Saturday, April 4th. Weiss Ratings raised NWPX Infrastructure from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday. Finally, Zacks Research raised NWPX Infrastructure from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, NWPX Infrastructure presently has an average rating of "Strong Buy" and an average target price of $90.00.

Insider Activity at NWPX Infrastructure

In related news, Director Amanda Julian sold 3,473 shares of NWPX Infrastructure stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $71.98, for a total value of $249,986.54. Following the completion of the sale, the director directly owned 10,417 shares in the company, valued at $749,815.66. This trade represents a 25.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Megan A. Kendrick sold 4,500 shares of NWPX Infrastructure stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $80.59, for a total transaction of $362,655.00. Following the completion of the sale, the vice president owned 6,996 shares of the company's stock, valued at $563,807.64. This trade represents a 39.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,273 shares of company stock valued at $1,490,019 over the last 90 days. Company insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Franklin Resources Inc. lifted its holdings in shares of NWPX Infrastructure by 527.6% during the fourth quarter. Franklin Resources Inc. now owns 70,923 shares of the industrial products company's stock worth $4,432,000 after purchasing an additional 59,623 shares during the period. Millennium Management LLC increased its holdings in NWPX Infrastructure by 86.6% in the 3rd quarter. Millennium Management LLC now owns 48,723 shares of the industrial products company's stock worth $2,579,000 after buying an additional 22,611 shares during the period. AQR Capital Management LLC raised its position in 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 buying an additional 21,179 shares during the last quarter. Bank of America Corp DE lifted its stake in NWPX Infrastructure by 184.0% during the 2nd quarter. Bank of America Corp DE now owns 32,317 shares of the industrial products company's stock valued at $1,325,000 after acquiring an additional 20,936 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of NWPX Infrastructure by 45.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 52,207 shares of the industrial products company's stock valued at $3,262,000 after acquiring an additional 16,213 shares during the last quarter. 80.63% of the stock is owned by institutional investors and hedge funds.

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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