Covestor Ltd Has $29,000 Position in Northwest Pipe (NASDAQ:NWPX)

Covestor Ltd grew its stake in Northwest Pipe (NASDAQ:NWPX) by 1,857.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 646 shares of the industrial products company’s stock after buying an additional 613 shares during the quarter. Covestor Ltd’s holdings in Northwest Pipe were worth $29,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new stake in Northwest Pipe during the first quarter worth $95,000. EntryPoint Capital LLC raised its position in shares of Northwest Pipe by 120.2% in the first quarter. EntryPoint Capital LLC now owns 3,462 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 1,890 shares during the period. SG Americas Securities LLC bought a new position in shares of Northwest Pipe in the third quarter valued at about $165,000. Semanteon Capital Management LP acquired a new position in shares of Northwest Pipe in the third quarter valued at about $230,000. Finally, Summit Global Investments acquired a new position in shares of Northwest Pipe in the third quarter valued at about $262,000. Institutional investors and hedge funds own 80.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NWPX shares. Northland Capmk downgraded shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. StockNews.com downgraded shares of Northwest Pipe from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, Northland Securities lowered shares of Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 price objective for the company. in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.00.

Insider Activity

In other Northwest Pipe news, VP Megan A. Kendrick sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $44.22, for a total transaction of $44,220.00. Following the completion of the sale, the vice president now owns 9,725 shares in the company, valued at approximately $430,039.50. The trade was a 9.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Miles Brittain sold 4,500 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $41.90, for a total transaction of $188,550.00. Following the completion of the sale, the executive vice president now owns 25,858 shares of the company’s stock, valued at approximately $1,083,450.20. The trade was a 14.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,500 shares of company stock worth $275,140 in the last quarter. 3.30% of the stock is owned by corporate insiders.

Northwest Pipe Stock Up 0.2 %

Northwest Pipe stock opened at $53.25 on Friday. The firm has a 50 day moving average price of $45.66 and a two-hundred day moving average price of $39.84. The firm has a market cap of $528.24 million, a price-to-earnings ratio of 18.11, a PEG ratio of 3.21 and a beta of 0.98. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.27 and a current ratio of 3.20. Northwest Pipe has a 52-week low of $25.81 and a 52-week high of $55.22.

Northwest Pipe 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.