JPMorgan Chase & Co. Sells 9,467 Shares of NWPX Infrastructure, Inc. $NWPX

JPMorgan Chase & Co. trimmed its holdings in shares of NWPX Infrastructure, Inc. (NASDAQ:NWPX) by 19.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 38,754 shares of the industrial products company’s stock after selling 9,467 shares during the period. JPMorgan Chase & Co. owned approximately 0.40% of NWPX Infrastructure worth $2,051,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NWPX. LSV Asset Management lifted its holdings in NWPX Infrastructure by 166.9% during the 3rd quarter. LSV Asset Management now owns 69,400 shares of the industrial products company’s stock valued at $3,673,000 after purchasing an additional 43,398 shares during the last quarter. Royce & Associates LP lifted its holdings in NWPX Infrastructure by 7.1% during the 3rd quarter. Royce & Associates LP now owns 537,188 shares of the industrial products company’s stock valued at $28,433,000 after purchasing an additional 35,768 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in NWPX Infrastructure by 67.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 85,527 shares of the industrial products company’s stock valued at $4,527,000 after purchasing an additional 34,526 shares during the last quarter. CenterBook Partners LP bought a new position in NWPX Infrastructure during the 3rd quarter valued at about $1,643,000. Finally, Millennium Management LLC lifted its holdings in NWPX Infrastructure by 86.6% during the 3rd quarter. Millennium Management LLC now owns 48,723 shares of the industrial products company’s stock valued at $2,579,000 after purchasing an additional 22,611 shares during the last quarter. 80.63% of the stock is owned by institutional investors.

Insider Activity at NWPX Infrastructure

In other NWPX Infrastructure news, EVP Miles Brittain sold 3,300 shares of the firm’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $70.89, for a total value of $233,937.00. Following the completion of the sale, the executive vice president owned 20,006 shares in the company, valued at approximately $1,418,225.34. This trade represents a 14.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Scott J. Montross sold 2,500 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $71.44, for a total transaction of $178,600.00. Following the completion of the sale, the chief executive officer owned 65,977 shares of the company’s stock, valued at $4,713,396.88. The trade was a 3.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 20,273 shares of company stock worth $1,490,019. 3.20% of the stock is owned by insiders.

NWPX Infrastructure Trading Up 0.4%

NWPX opened at $78.76 on Wednesday. The company has a current ratio of 3.78, a quick ratio of 2.66 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $753.73 million, a PE ratio of 21.94, a PEG ratio of 1.71 and a beta of 0.92. NWPX Infrastructure, Inc. has a 1-year low of $36.97 and a 1-year high of $83.12. The firm has a 50-day moving average price of $74.83 and a two-hundred day moving average price of $64.69.

NWPX Infrastructure (NASDAQ:NWPX) last posted its quarterly earnings data on Wednesday, February 25th. The industrial products company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.31. The firm had revenue of $125.64 million during the quarter, compared to analysts’ expectations of $122.00 million. NWPX Infrastructure had a net margin of 6.73% and a return on equity of 9.27%. As a group, equities analysts anticipate that NWPX Infrastructure, Inc. will post 3.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NWPX has been the subject of several analyst reports. Wall Street Zen downgraded shares of NWPX Infrastructure from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Research raised shares of NWPX Infrastructure from a “hold” rating to a “strong-buy” rating in a report on Monday, March 2nd. Weiss Ratings raised shares of NWPX Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, March 24th. Finally, DA Davidson lifted their price target on shares of NWPX Infrastructure from $70.00 to $90.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Two investment analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat, NWPX Infrastructure currently has a consensus rating of “Strong Buy” and a consensus target price of $90.00.

NWPX Infrastructure 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.