NV5 Global (NASDAQ:NVEE) Stock Price Up 2.8% – Here’s What Happened

NV5 Global, Inc. (NASDAQ:NVEE) shares were up 2.8% during mid-day trading on Wednesday . The stock traded as high as $19.02 and last traded at $19.02. Approximately 77,043 shares were traded during trading, a decline of 78% from the average daily volume of 343,108 shares. The stock had previously closed at $18.50.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. StockNews.com upgraded NV5 Global from a “hold” rating to a “buy” rating in a research report on Thursday, December 26th. Robert W. Baird lowered their price objective on shares of NV5 Global from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, November 8th.

NV5 Global Trading Up 4.4 %

The company has a 50-day moving average of $21.11 and a 200 day moving average of $22.68. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.05 and a quick ratio of 2.05. The company has a market cap of $1.26 billion, a PE ratio of 34.33, a price-to-earnings-growth ratio of 3.21 and a beta of 1.22.

NV5 Global declared that its board has authorized a stock buyback plan on Monday, January 6th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity at NV5 Global

In other NV5 Global news, VP Richard Tong sold 20,000 shares of NV5 Global stock in a transaction on Friday, December 13th. The shares were sold at an average price of $20.08, for a total transaction of $401,600.00. Following the completion of the transaction, the vice president now directly owns 45,584 shares of the company’s stock, valued at $915,326.72. The trade was a 30.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NV5 Global

Institutional investors have recently made changes to their positions in the company. Redwood Grove Capital LLC bought a new position in NV5 Global during the 3rd quarter valued at about $12,599,000. Swedbank AB boosted its position in shares of NV5 Global by 27.3% during the third quarter. Swedbank AB now owns 350,000 shares of the business services provider’s stock valued at $32,718,000 after buying an additional 75,000 shares during the period. Nordea Investment Management AB grew its stake in shares of NV5 Global by 313.3% during the fourth quarter. Nordea Investment Management AB now owns 97,546 shares of the business services provider’s stock valued at $1,853,000 after buying an additional 73,944 shares during the last quarter. Oak Ridge Investments LLC raised its holdings in shares of NV5 Global by 287.2% in the third quarter. Oak Ridge Investments LLC now owns 98,124 shares of the business services provider’s stock worth $9,173,000 after buying an additional 72,780 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of NV5 Global by 16.6% during the 2nd quarter. American Century Companies Inc. now owns 456,722 shares of the business services provider’s stock worth $42,461,000 after acquiring an additional 65,186 shares during the last quarter. Institutional investors own 75.54% of the company’s stock.

NV5 Global Company Profile

NV5 Global, Inc provides technology, conformity assessment, consulting solutions, and software applications to public and private sector clients in the infrastructure, utility services, construction, real estate, environmental, and geospatial markets in the United States and internationally. It operates through three segments: Infrastructure; Building, Technology & Sciences; and Geospatial Solutions.