NWPX Infrastructure (NASDAQ:NWPX) Issues Earnings Results, Beats Expectations By $0.31 EPS

NWPX Infrastructure (NASDAQ:NWPX) issued its quarterly earnings data on Wednesday. The industrial products company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.31, FiscalAI reports. The firm had revenue of $125.64 million for the quarter, compared to analysts’ expectations of $122.00 million. NWPX Infrastructure had a net margin of 7.04% and a return on equity of 9.65%.

NWPX Infrastructure Price Performance

Shares of NASDAQ:NWPX opened at $74.01 on Thursday. The company has a market cap of $711.24 million, a P/E ratio of 20.11, a P/E/G ratio of 1.73 and a beta of 0.96. The company has a quick ratio of 2.62, a current ratio of 3.60 and a debt-to-equity ratio of 0.10. NWPX Infrastructure has a 52 week low of $36.97 and a 52 week high of $77.43. The business has a fifty day simple moving average of $68.37 and a 200-day simple moving average of $59.61.

Insider Activity

In other news, CFO Aaron Wilkins sold 5,009 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were 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 of the company’s stock, valued at $1,183,204.70. This represents a 20.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael C. Franson sold 5,506 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $60.17, for a total transaction of $331,296.02. Following the transaction, the director owned 18,525 shares in the company, valued at approximately $1,114,649.25. The trade was a 22.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,791 shares of company stock worth $708,142 over the last quarter. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NWPX Infrastructure

A number of large investors have recently bought and sold shares of NWPX. Franklin Resources Inc. grew its stake in shares of NWPX Infrastructure by 527.6% during the 4th quarter. Franklin Resources Inc. now owns 70,923 shares of the industrial products company’s stock valued at $4,432,000 after buying an additional 59,623 shares during the period. Millennium Management LLC raised its position in shares of 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 boosted its holdings in NWPX Infrastructure by 274.8% in the first quarter. AQR Capital Management LLC now owns 28,887 shares of the industrial products company’s stock valued at $1,193,000 after acquiring an additional 21,179 shares during the last quarter. Bank of America Corp DE grew its position in NWPX Infrastructure by 184.0% during the second 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. grew its position in NWPX Infrastructure by 45.0% during the fourth 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 period. Hedge funds and other institutional investors own 80.63% of the company’s stock.

Analyst Ratings Changes

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

About NWPX Infrastructure

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.