Shares of NV5 Global, Inc. (NASDAQ:NVEE – Get Free Report) hit a new 52-week low on Monday . The stock traded as low as $18.36 and last traded at $18.47, with a volume of 198469 shares changing hands. The stock had previously closed at $18.87.
Analyst Ratings Changes
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 research report on Thursday, December 26th. Robert W. Baird cut their price target on shares of NV5 Global from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, November 8th.
Check Out Our Latest Analysis on NVEE
NV5 Global Trading Up 0.4 %
NV5 Global declared that its board has approved a share buyback plan on Monday, January 6th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
Insiders Place Their Bets
In other NV5 Global 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 in the company, valued at $915,326.72. This represents a 30.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.40% of the stock is currently owned by insiders.
Institutional Investors Weigh In On NV5 Global
Institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its holdings in NV5 Global by 5.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 3,459 shares of the business services provider’s stock valued at $322,000 after acquiring an additional 167 shares during the period. Rhumbline Advisers boosted 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 during the period. Texas Permanent School Fund Corp grew its holdings 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. increased its stake in 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 buying an additional 65,186 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in 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 buying an additional 863 shares in the last quarter. 75.54% of the stock is owned by institutional investors and hedge funds.
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.
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