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

NV5 Global (NASDAQ:NVEE) announced that its board has initiated a stock buyback plan on Monday, January 6th, RTT News reports. The company plans to buyback $20.00 million in shares. This buyback authorization allows the business services provider to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

NVEE has been the subject of a number of research analyst reports. StockNews.com upgraded NV5 Global from a “hold” rating to a “buy” rating in a research report on Thursday, December 26th. Robert W. Baird decreased their price target on shares of 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 Price Performance

Shares of NASDAQ:NVEE opened at $19.14 on Thursday. 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 stock has a market cap of $1.25 billion, a PE ratio of 34.03, a PEG ratio of 3.21 and a beta of 1.22. The company’s fifty day moving average is $21.02 and its 200 day moving average is $22.65. NV5 Global has a 52 week low of $18.36 and a 52 week high of $28.29.

Insider Transactions at NV5 Global

In other NV5 Global 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 owns 45,584 shares in the company, valued at approximately $915,326.72. This trade represents a 30.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company 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.