Bank of Nova Scotia Buys New Shares in NWPX Infrastructure, Inc. $NWPX

Bank of Nova Scotia bought a new position in NWPX Infrastructure, Inc. (NASDAQ:NWPX) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 5,800 shares of the industrial products company’s stock, valued at approximately $870,000.

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

NWPX Infrastructure Stock Performance

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

NWPX Infrastructure (NASDAQ:NWPX) last released its quarterly earnings data 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. The business had revenue of $159.48 million during the quarter, compared to the consensus estimate of $154.70 million. NWPX Infrastructure had a net margin of 8.49% and a return on equity of 12.22%. As a group, analysts anticipate that NWPX Infrastructure, Inc. will post 5.43 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insider Transactions at NWPX Infrastructure

In related news, Director Keith R. Larson sold 1,250 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $115.86, for a total value of $144,825.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Scott J. Montross sold 2,500 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $115.13, for a total value of $287,825.00. Following the transaction, the chief executive officer directly owned 73,629 shares of the company’s stock, valued at approximately $8,476,906.77. The trade was a 3.28% 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. Over the last three months, insiders have sold 9,178 shares of company stock valued at $1,102,410. 3.30% of the stock is currently owned by insiders.

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.