This Fund's $8.5 Million Sale Comes as NWPX Delivers Record Backlog and Profit Growth

First Wilshire Securities Management reported a sale of 117,906 shares of NWPX Infrastructure (NASDAQ:NWPX) in its May 11, 2026, SEC filing, with the estimated trade value at $8.51 million based on quarterly average pricing.

What happened

According to a May 11, 2026, SEC filing, First Wilshire Securities Management reduced its position in NWPX Infrastructure (NASDAQ:NWPX) by 117,906 shares during the first quarter. The estimated value of the shares sold was $8.51 million, based on the average unadjusted closing price for the quarter. The fund’s quarter-end position value shifted by $4.64 million, reflecting both transaction and stock price changes.

What else to know

• The firm’s NWPX stake now accounts for 3.11% of its 13F reportable AUM following the sale.
• Top holdings after the filing:
  • NYSE:SGOV: $67.05 million (15.1% of AUM)
  • NASDAQ:LBTYA: $28.31 million (6.4% of AUM)
  • NYSE:ECVT: $28.25 million (6.4% of AUM)
  • NYSE:SD: $22.96 million (5.2% of AUM)
  • NYSE:TPH: $20.86 million (4.7% of AUM)
• As of May 11, 2026, NWPX shares were priced at $111.18, up 185% over the past year and vastly outperforming the S&P 500 by 156 percentage points.

Company Overview

Metric	Value
Price (as of market close 2026-05-11)	$111.18
Market Capitalization	$1.07 billion
Revenue (TTM)	$548.14 million
Net Income (TTM)	$41.98 million

Company Snapshot

• NWPX produces engineered steel pressure pipe systems, precast concrete infrastructure components, and environmental solutions for water, wastewater, and stormwater applications.
• The firm generates revenue primarily by manufacturing and selling large-diameter steel pipelines and precast products for water infrastructure, serving both new construction and replacement markets.
• Its main customers include installation contractors and municipal utilities across North America and Canada, with products supplied under multiple established brands.

NWPX Infrastructure is a leading manufacturer of water-related infrastructure products, operating through two specialized segments: engineered steel pressure pipe and precast infrastructure systems. The company leverages a diversified product portfolio and established brands to address critical water, wastewater, and environmental infrastructure needs in North America. Its scale, technical expertise, and focus on essential infrastructure position it as a key supplier to municipal and industrial customers seeking reliable, engineered solutions.

What this transaction means for investors

NWPX shares have nearly tripled over the past year, and while the company’s fundamentals continue improving, it’s not surprising to see investors rebalance positions after such a dramatic move. In April, the firm reported first-quarter sales growth of 19% to $138.3 million, while net income more than doubled to a record $10.5 million. Gross profit climbed nearly 38%, helped by margin expansion across both its steel water pipeline and precast infrastructure businesses.

One of the biggest numbers investors are probably focused on now is backlog. Water Transmission Systems backlog surged to a record $373 million, while backlog including confirmed orders reached $430 million. Management even said 2026 is shaping up to be a “historic year” for revenue and profitability.

It’s also important to note that First Wilshire still holds onto a sizable, nearly $14 million stake in NWPX. With all this in mind, the sale looks like some rational profit-taking after a massive rally, and not a sign of waning conviction.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nwpx Infrastructure and iShares Trust - iShares 0-3 Month Treasury Bond ETF. The Motley Fool has a disclosure policy.