NWPX Infrastructure (NASDAQ:NWPX) Posts Quarterly Earnings Results, Beats Estimates By $0.31 EPS

NWPX Infrastructure (NASDAQ:NWPX) posted its quarterly earnings data on Wednesday. The industrial products company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.31, FiscalAI reports. NWPX Infrastructure had a return on equity of 9.65% and a net margin of 7.04%.

NWPX Infrastructure Price Performance

NASDAQ NWPX traded up $0.86 on Wednesday, reaching $74.01. The company had a trading volume of 68,486 shares, compared to its average volume of 82,667. The stock has a market capitalization of $711.24 million, a PE ratio of 20.11, a price-to-earnings-growth ratio of 1.71 and a beta of 0.96. NWPX Infrastructure has a 12 month low of $36.97 and a 12 month high of $77.43. The company has a quick ratio of 2.62, a current ratio of 3.60 and a debt-to-equity ratio of 0.10. The firm’s 50 day moving average price is $68.16 and its 200 day moving average price is $59.51.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wall Street Zen raised shares of NWPX Infrastructure from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. DA Davidson lifted their target price on shares of NWPX Infrastructure from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Northland Securities raised shares of NWPX Infrastructure from a “hold” rating to a “strong-buy” rating in a report on Friday, October 31st. Finally, Weiss Ratings cut NWPX Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, NWPX Infrastructure currently has a consensus rating of “Buy” and an average price target of $70.00.

Insider Transactions at NWPX Infrastructure

In other news, CFO Aaron Wilkins sold 5,009 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $59.90, for a total transaction of $300,039.10. Following the completion of the transaction, the chief financial officer owned 19,753 shares in the company, valued at $1,183,204.70. This trade represents a 20.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael C. Franson sold 5,506 shares of NWPX Infrastructure stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $60.17, for a total value of $331,296.02. Following the completion of the sale, the director directly owned 18,525 shares in the company, valued at $1,114,649.25. This trade represents a 22.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 11,791 shares of company stock valued at $708,142. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Empowered Funds LLC raised its stake in NWPX Infrastructure by 5.6% during the first quarter. Empowered Funds LLC now owns 48,369 shares of the industrial products company’s stock valued at $1,998,000 after purchasing an additional 2,547 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of NWPX Infrastructure by 184.0% in the 2nd quarter. Bank of America Corp DE now owns 32,317 shares of the industrial products company’s stock worth $1,325,000 after buying an additional 20,936 shares during the last quarter. Integrated Quantitative Investments LLC raised its position in shares of NWPX Infrastructure by 127.7% during the 4th quarter. Integrated Quantitative Investments LLC now owns 15,711 shares of the industrial products company’s stock valued at $982,000 after buying an additional 8,811 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of NWPX Infrastructure by 53.1% in the 4th quarter. Wells Fargo & Company MN now owns 12,015 shares of the industrial products company’s stock valued at $751,000 after acquiring an additional 4,165 shares during the last quarter. Finally, Verition Fund Management LLC grew its position in NWPX Infrastructure by 100.6% in the fourth quarter. Verition Fund Management LLC now owns 7,822 shares of the industrial products company’s stock worth $489,000 after acquiring an additional 3,922 shares in the last quarter. 80.63% of the stock is currently owned by institutional investors.

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.