NV5 Global (NASDAQ:NVEE) Cut to “Hold” at StockNews.com

NV5 Global (NASDAQ:NVEE) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Separately, Robert W. Baird lowered their target price on shares of NV5 Global from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, November 8th.

NV5 Global Stock Performance

NASDAQ:NVEE traded down $0.04 during mid-day trading on Wednesday, reaching $17.03. The stock had a trading volume of 506,586 shares, compared to its average volume of 403,740. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.05 and a current ratio of 2.05. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 2.64 and a beta of 1.23. NV5 Global has a twelve month low of $16.77 and a twelve month high of $27.77. The business has a 50 day simple moving average of $18.64 and a 200 day simple moving average of $21.44.

NV5 Global declared that its board has initiated a stock repurchase plan on Monday, January 6th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, VP Richard Tong sold 20,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $20.08, for a total transaction of $401,600.00. Following the transaction, the vice president now directly owns 45,584 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Insiders own 12.40% of the company’s stock.

Hedge Funds Weigh In On NV5 Global

A number of hedge funds have recently added to or reduced their stakes in NVEE. BNP Paribas boosted its position in NV5 Global by 300.0% during the fourth quarter. BNP Paribas now owns 1,400 shares of the business services provider’s stock worth $26,000 after purchasing an additional 1,050 shares during the period. Sterling Capital Management LLC boosted its position in shares of NV5 Global by 3,320.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,505 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 1,461 shares during the period. Blue Trust Inc. boosted its position in shares of NV5 Global by 287.7% in the fourth quarter. Blue Trust Inc. now owns 2,512 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 1,864 shares during the period. SRS Capital Advisors Inc. boosted its position in shares of NV5 Global by 296.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,584 shares of the business services provider’s stock valued at $68,000 after acquiring an additional 2,680 shares during the period. Finally, KBC Group NV boosted its position in shares of NV5 Global by 527.5% in the fourth quarter. KBC Group NV now owns 4,223 shares of the business services provider’s stock valued at $80,000 after acquiring an additional 3,550 shares during the period. Institutional investors and hedge funds own 75.54% of the company’s stock.

About NV5 Global

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.