Geode Capital Management LLC Acquires 11,342 Shares of NWPX Infrastructure, Inc. $NWPX

Geode Capital Management LLC lifted its holdings in shares of NWPX Infrastructure, Inc. (NASDAQ:NWPX) by 4.9% in the 2nd quarter, Holdings Channel reports. The firm owned 240,631 shares of the industrial products company’s stock after acquiring an additional 11,342 shares during the period. Geode Capital Management LLC’s holdings in NWPX Infrastructure were worth $9,870,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NWPX. CSM Advisors LLC bought a new stake in NWPX Infrastructure during the second quarter valued at approximately $6,075,000. Russell Investments Group Ltd. raised its position in shares of NWPX Infrastructure by 258.7% during the 1st quarter. Russell Investments Group Ltd. now owns 96,863 shares of the industrial products company’s stock valued at $4,000,000 after buying an additional 69,856 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of NWPX Infrastructure during the 2nd quarter worth $2,092,000. First Wilshire Securities Management Inc. lifted its holdings in shares of NWPX Infrastructure by 14.2% during the 1st quarter. First Wilshire Securities Management Inc. now owns 325,602 shares of the industrial products company’s stock worth $13,447,000 after acquiring an additional 40,448 shares during the last quarter. Finally, Invesco Ltd. grew its position in NWPX Infrastructure by 49.4% in the first quarter. Invesco Ltd. now owns 110,861 shares of the industrial products company’s stock worth $4,579,000 after acquiring an additional 36,643 shares in the last quarter. 80.63% of the stock is owned by hedge funds and other institutional investors.

NWPX Infrastructure Price Performance

NWPX opened at $59.43 on Thursday. The stock’s 50 day simple moving average is $55.39 and its 200 day simple moving average is $48.56. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.60 and a quick ratio of 2.62. NWPX Infrastructure, Inc. has a 1 year low of $36.97 and a 1 year high of $65.84. The firm has a market cap of $571.12 million, a price-to-earnings ratio of 16.15, a PEG ratio of 1.60 and a beta of 0.94.

NWPX Infrastructure (NASDAQ:NWPX) last announced its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.36. The firm had revenue of $151.07 million during the quarter, compared to the consensus estimate of $132.01 million. NWPX Infrastructure had a return on equity of 9.65% and a net margin of 7.04%. As a group, analysts predict that NWPX Infrastructure, Inc. will post 3.32 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NWPX. DA Davidson raised their price target on NWPX Infrastructure from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Wall Street Zen upgraded NWPX Infrastructure from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NWPX Infrastructure in a research note on Wednesday, October 8th. Finally, Northland Capmk raised shares of NWPX Infrastructure from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $62.50.

Insiders Place Their Bets

In related news, EVP Miles Brittain sold 4,000 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $56.41, for a total transaction of $225,640.00. Following the completion of the sale, the executive vice president directly owned 25,725 shares in the company, valued at $1,451,147.25. This represents a 13.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Scott J. Montross sold 8,210 shares of the stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $57.27, for a total transaction of $470,186.70. Following the sale, the chief executive officer directly owned 68,781 shares of the company’s stock, valued at $3,939,087.87. The trade was a 10.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,210 shares of company stock valued at $922,867 over the last quarter. 3.20% of the stock is currently owned by company insiders.

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.