Bank of Nova Scotia Acquires New Holdings in NWPX Infrastructure, Inc. $NWPX

Bank of Nova Scotia bought a new position in NWPX Infrastructure, Inc. (NASDAQ:NWPX) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,800 shares of the industrial products company’s stock, valued at approximately $870,000. Bank of Nova Scotia owned 0.06% of NWPX Infrastructure at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NWPX. Quantbot Technologies LP purchased a new position in shares of NWPX Infrastructure in the 2nd quarter worth $197,000. William Blair Investment Management LLC purchased a new stake in NWPX Infrastructure during the second quarter valued at $23,010,000. Landscape Capital Management L.L.C. purchased a new stake in NWPX Infrastructure during the second quarter valued at $331,000. Ieq Capital LLC purchased a new stake in NWPX Infrastructure during the second quarter valued at $1,475,000. Finally, Heartland Advisors Inc. bought a new position in NWPX Infrastructure in the second quarter valued at about $20,992,000. 80.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of NWPX Infrastructure in a research report on Wednesday, August 5th. JPMorgan Chase & Co. began coverage on shares of NWPX Infrastructure in a research report on Wednesday, June 10th. They set a “neutral” rating and a $130.00 price target for the company. Finally, Wall Street Zen cut shares of NWPX Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.00.

Insider Transactions at NWPX Infrastructure

In other news, CFO Aaron Wilkins sold 428 shares of NWPX Infrastructure stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $120.00, for a total transaction of $51,360.00. Following the transaction, the chief financial officer directly owned 25,898 shares of the company’s stock, valued at $3,107,760. The trade was a 1.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Keith R. Larson sold 1,250 shares of NWPX Infrastructure stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $115.86, for a total value of $144,825.00. Following the transaction, the director directly owned 21,133 shares in the company, valued at approximately $2,448,469.38. The trade was a 5.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 9,178 shares of company stock valued at $1,102,410 over the last quarter. 3.30% of the stock is currently owned by company insiders.

NWPX Infrastructure Trading Up 1.6%

NASDAQ:NWPX opened at $112.39 on Thursday. NWPX Infrastructure, Inc. has a one year low of $49.25 and a one year high of $152.03. The business has a fifty day moving average price of $129.08 and a 200-day moving average price of $105.13. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 1.85 and a beta of 1.09. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.71 and a quick ratio of 1.94.

NWPX Infrastructure (NASDAQ:NWPX) last released its earnings results on Wednesday, July 29th. The industrial products company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.29. NWPX Infrastructure had a return on equity of 12.22% and a net margin of 8.49%.The company had revenue of $159.48 million for the quarter, compared to the consensus estimate of $154.70 million. Sell-side analysts forecast that NWPX Infrastructure, Inc. will post 5.43 EPS for the current year.

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.