Conestoga Capital Advisors LLC Acquires 47,014 Shares of NV5 Global, Inc. (NASDAQ:NVEE)

Conestoga Capital Advisors LLC increased its holdings in NV5 Global, Inc. (NASDAQ:NVEE) by 298.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 62,752 shares of the business services provider’s stock after buying an additional 47,014 shares during the quarter. Conestoga Capital Advisors LLC owned about 0.10% of NV5 Global worth $1,182,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. lifted its position in NV5 Global by 3,950.0% during the third quarter. Blue Trust Inc. now owns 648 shares of the business services provider’s stock valued at $60,000 after purchasing an additional 632 shares during the period. Net Worth Advisory Group purchased a new position in shares of NV5 Global in the 3rd quarter worth $211,000. Handelsbanken Fonder AB grew its holdings in shares of NV5 Global by 21.7% in the third quarter. Handelsbanken Fonder AB now owns 2,800 shares of the business services provider’s stock worth $262,000 after acquiring an additional 500 shares during the period. Point72 Asset Management L.P. purchased a new stake in NV5 Global during the second quarter valued at $307,000. Finally, NBC Securities Inc. lifted its holdings in NV5 Global by 2,043.7% in the third quarter. NBC Securities Inc. now owns 3,730 shares of the business services provider’s stock valued at $348,000 after acquiring an additional 3,556 shares during the period. Hedge funds and other institutional investors own 75.54% of the company’s stock.

NV5 Global Stock Down 3.2 %

NASDAQ NVEE opened at $18.24 on Monday. NV5 Global, Inc. has a 52 week low of $17.92 and a 52 week high of $28.29. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $1.19 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 2.84 and a beta of 1.23. The stock’s 50-day moving average price is $19.52 and its 200-day moving average price is $22.08.

NV5 Global (NASDAQ:NVEE) last released its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). NV5 Global had a return on equity of 9.45% and a net margin of 3.86%. The business had revenue of $250.89 million during the quarter, compared to the consensus estimate of $250.50 million. During the same period last year, the company earned $0.38 EPS. On average, equities research analysts predict that NV5 Global, Inc. will post 1.18 earnings per share for the current year.

NV5 Global declared that its Board of Directors has approved a share buyback program 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 repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related news, VP Richard Tong sold 20,000 shares of the business’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 completion of the transaction, the vice president now owns 45,584 shares in the company, valued at $915,326.72. The trade was a 30.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NVEE shares. Robert W. Baird cut their price target on NV5 Global from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. StockNews.com raised shares of NV5 Global from a “hold” rating to a “buy” rating in a report on Thursday, December 26th.

NV5 Global 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.