NV5 Global (NASDAQ:NVEE) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of NV5 Global (NASDAQ:NVEE) from a buy rating to a hold rating in a report released on Wednesday morning.

Separately, Robert W. Baird decreased their target price on NV5 Global from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, November 8th.

NV5 Global Stock Down 0.2 %

Shares of NVEE opened at $17.03 on Wednesday. The business’s 50 day simple moving average is $18.64 and its 200-day simple moving average is $21.44. NV5 Global has a one year low of $16.77 and a one year high of $27.77. The company has a market capitalization of $1.11 billion, a P/E ratio of 30.28, a PEG ratio of 2.64 and a beta of 1.23. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.05 and a quick ratio of 2.05.

NV5 Global declared that its board has authorized a stock repurchase program on Monday, January 6th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the business services provider to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally 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 business’s stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 12.40% of the company’s stock.

Institutional Investors Weigh In On NV5 Global

Several institutional investors have recently modified their holdings of NVEE. Blue Trust Inc. boosted its stake in NV5 Global by 3,950.0% in the third quarter. Blue Trust Inc. now owns 648 shares of the business services provider’s stock valued at $60,000 after acquiring an additional 632 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of NV5 Global by 12.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,342 shares of the business services provider’s stock worth $593,000 after purchasing an additional 703 shares during the last quarter. Versor Investments LP grew its stake in shares of NV5 Global by 23.7% during the third quarter. Versor Investments LP now owns 4,206 shares of the business services provider’s stock worth $393,000 after purchasing an additional 806 shares during the period. Kornitzer Capital Management Inc. KS lifted its stake in NV5 Global by 0.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 140,870 shares of the business services provider’s stock valued at $13,169,000 after buying an additional 1,000 shares during the period. Finally, BNP Paribas boosted its holdings 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 buying an additional 1,050 shares during the last quarter. 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.