NV5 Global (NASDAQ:NVEE) to Buyback $20.00 million in Stock

NV5 Global (NASDAQ:NVEE) announced that its Board of Directors has authorized a stock repurchase program on Monday, January 6th, RTT News reports. The company plans to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the business services provider to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NVEE. StockNews.com upgraded shares of NV5 Global from a “hold” rating to a “buy” rating in a report on Thursday, December 26th. Robert W. Baird dropped their price objective on NV5 Global from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th.

NV5 Global Stock Up 3.5 %

NVEE opened at $19.14 on Thursday. NV5 Global has a fifty-two week low of $18.36 and a fifty-two week high of $28.29. The firm has a market capitalization of $1.25 billion, a P/E ratio of 34.03, a PEG ratio of 3.21 and a beta of 1.22. The company’s 50-day moving average is $21.02 and its 200 day moving average is $22.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.05 and a quick ratio of 2.05.

Insiders Place Their Bets

In other news, VP Richard Tong sold 20,000 shares of the stock in a transaction that occurred 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. This represents a 30.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.40% 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.