Ieq Capital LLC Invests $1.48 Million in NWPX Infrastructure, Inc. $NWPX

Ieq Capital LLC acquired a new stake in shares of NWPX Infrastructure, Inc. (NASDAQ:NWPX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 30,057 shares of the industrial products company’s stock, valued at approximately $1,475,000. Ieq Capital LLC owned approximately 0.31% of NWPX Infrastructure as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Meeder Asset Management Inc. acquired a new position in shares of NWPX Infrastructure in the 2nd quarter valued at about $41,000. Simplex Trading LLC raised its stake in NWPX Infrastructure by 193.9% during the fourth quarter. Simplex Trading LLC now owns 485 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 320 shares during the period. Wexford Capital LP bought a new position in NWPX Infrastructure in the third quarter worth about $29,000. State of Wyoming bought a new position in NWPX Infrastructure in the second quarter worth about $98,000. Finally, Central Pacific Bank Trust Division acquired a new position in NWPX Infrastructure in the second quarter valued at approximately $156,000. 80.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NWPX has been the topic of several recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of NWPX Infrastructure in a report on Wednesday, August 5th. Wall Street Zen downgraded NWPX Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 13th. Finally, JPMorgan Chase & Co. initiated coverage on NWPX Infrastructure in a research report on Wednesday, June 10th. They issued a “neutral” rating and a $130.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, NWPX Infrastructure has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Insiders Place Their Bets

In other news, CEO Scott J. Montross sold 2,500 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $115.13, for a total value of $287,825.00. Following the completion of the sale, the chief executive officer owned 73,629 shares of the company’s stock, valued at $8,476,906.77. This trade represents a 3.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aaron Wilkins sold 428 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $120.00, for a total value of $51,360.00. Following the sale, the chief financial officer owned 25,898 shares of the company’s stock, valued at $3,107,760. The trade was a 1.63% 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. In the last quarter, insiders have sold 9,178 shares of company stock worth $1,102,410. Company insiders own 3.30% of the company’s stock.

NWPX Infrastructure Price Performance

NASDAQ:NWPX opened at $112.39 on Thursday. The company has a quick ratio of 1.94, a current ratio of 2.71 and a debt-to-equity ratio of 0.02. The business’s 50-day moving average price is $129.08 and its 200 day moving average price is $105.13. NWPX Infrastructure, Inc. has a 52-week low of $49.25 and a 52-week high of $152.03. The firm has a market cap of $1.08 billion, a P/E ratio of 22.52, a PEG ratio of 1.85 and a beta of 1.09.

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

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.