NWPX Infrastructure (NASDAQ:NWPX) Reaches New 52-Week High – Here’s Why

NWPX Infrastructure, Inc. (NASDAQ:NWPX) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $69.40 and last traded at $68.9050, with a volume of 10732 shares trading hands. The stock had previously closed at $67.89.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NWPX shares. Weiss Ratings restated a “hold (c+)” rating on shares of NWPX Infrastructure in a research note on Wednesday, October 8th. Northland Capmk upgraded NWPX Infrastructure from a “hold” rating to a “strong-buy” rating in a research note 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. Finally, DA Davidson raised their price objective on NWPX Infrastructure from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, NWPX Infrastructure currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

NWPX Infrastructure Stock Up 1.7%

The firm has a market cap of $663.33 million, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 1.60 and a beta of 0.94. The stock has a 50-day moving average of $61.07 and a 200-day moving average of $53.54. The company has a current ratio of 3.60, a quick ratio of 2.62 and a debt-to-equity ratio of 0.10.

NWPX Infrastructure (NASDAQ:NWPX) last posted its earnings results on Wednesday, October 29th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.36. The company had revenue of $151.07 million for the quarter, compared to analysts’ expectations of $132.01 million. NWPX Infrastructure had a return on equity of 9.65% and a net margin of 7.04%. As a group, sell-side analysts forecast that NWPX Infrastructure, Inc. will post 3.32 EPS for the current fiscal year.

Insider Activity

In other news, CEO Scott J. Montross sold 8,210 shares of NWPX Infrastructure stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $57.27, for a total transaction of $470,186.70. Following the sale, the chief executive officer owned 68,781 shares of the company’s stock, valued at approximately $3,939,087.87. The trade was a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael C. Franson sold 5,506 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 18,525 shares of the company’s stock, 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. Insiders have sold a total of 28,001 shares of company stock worth $1,631,008 in the last quarter. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On NWPX Infrastructure

Hedge funds and other institutional investors have recently modified their holdings of the stock. CSM Advisors LLC bought a new position in NWPX Infrastructure in the 2nd quarter valued at about $6,075,000. Allspring Global Investments Holdings LLC acquired a new position in shares of NWPX Infrastructure during the second quarter valued at approximately $2,092,000. LSV Asset Management increased its stake in shares of NWPX Infrastructure by 166.9% during the third quarter. LSV Asset Management now owns 69,400 shares of the industrial products company’s stock valued at $3,673,000 after acquiring an additional 43,398 shares during the period. Legal & General Group Plc raised its holdings in NWPX Infrastructure by 14.4% during the second quarter. Legal & General Group Plc now owns 323,819 shares of the industrial products company’s stock worth $13,280,000 after purchasing an additional 40,751 shares in the last quarter. Finally, Royce & Associates LP lifted its position in NWPX Infrastructure by 7.1% in the third quarter. Royce & Associates LP now owns 537,188 shares of the industrial products company’s stock worth $28,433,000 after purchasing an additional 35,768 shares during the period. 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.