NV5 Global, Inc. (NASDAQ:NVEE – Get Free Report) traded up 2.8% during trading on Wednesday . The company traded as high as $19.02 and last traded at $19.02. 77,043 shares were traded during trading, a decline of 78% from the average session volume of 343,108 shares. The stock had previously closed at $18.50.
Wall Street Analysts Forecast Growth
NVEE has been the topic of a number of research reports. StockNews.com upgraded 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 shares of NV5 Global from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th.
View Our Latest Stock Report on NVEE
NV5 Global Trading Down 1.4 %
NV5 Global announced that its Board of Directors has initiated a share buyback program on Monday, January 6th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the business services provider to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
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 stock was sold at an average price of $20.08, for a total value of $401,600.00. Following the completion of the sale, the vice president now directly owns 45,584 shares of the company’s stock, valued at approximately $915,326.72. This represents a 30.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 12.40% of the company’s stock.
Institutional Trading of NV5 Global
A number of hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC lifted its stake in shares of NV5 Global by 5.1% in the second quarter. Commonwealth Equity Services LLC now owns 3,459 shares of the business services provider’s stock valued at $322,000 after buying an additional 167 shares during the period. Rhumbline Advisers raised its stake in shares of NV5 Global by 7.3% in the second quarter. Rhumbline Advisers now owns 41,939 shares of the business services provider’s stock valued at $3,899,000 after purchasing an additional 2,836 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in shares of NV5 Global by 1.5% in the second quarter. Texas Permanent School Fund Corp now owns 11,296 shares of the business services provider’s stock valued at $1,050,000 after purchasing an additional 166 shares in the last quarter. American Century Companies Inc. lifted its position in NV5 Global by 16.6% in the second quarter. American Century Companies Inc. now owns 456,722 shares of the business services provider’s stock worth $42,461,000 after purchasing an additional 65,186 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of NV5 Global by 2.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 39,510 shares of the business services provider’s stock worth $3,673,000 after acquiring an additional 863 shares during the period. 75.54% of the stock is owned by institutional investors.
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.
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