NV5 Global (NASDAQ:NVEE) Cut to “Hold” at StockNews.com

NV5 Global (NASDAQ:NVEE) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Separately, Robert W. Baird cut their price objective 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 Trading Down 0.2 %

NV5 Global stock traded down $0.04 during mid-day trading on Wednesday, hitting $17.03. The stock had a trading volume of 506,586 shares, compared to its average volume of 403,740. The stock has a 50-day simple moving average of $18.64 and a two-hundred day simple moving average of $21.44. The stock has a market capitalization of $1.11 billion, a PE ratio of 30.28, a P/E/G ratio of 2.64 and a beta of 1.23. NV5 Global has a 12 month low of $16.77 and a 12 month high of $27.77. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.30.

NV5 Global declared that its board has approved a share repurchase program on Monday, January 6th that allows the company 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 programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at NV5 Global

In other news, VP Richard Tong sold 20,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $915,326.72. This represents a 30.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 12.40% of the stock is owned by insiders.

Institutional Investors Weigh In On NV5 Global

Several institutional investors and hedge funds have recently made changes to their positions in NVEE. Blue Trust Inc. increased its holdings in NV5 Global by 3,950.0% during the 3rd quarter. Blue Trust Inc. now owns 648 shares of the business services provider’s stock worth $60,000 after purchasing an additional 632 shares in the last quarter. Oak Ridge Investments LLC boosted its holdings in shares of NV5 Global by 287.2% in the 3rd quarter. Oak Ridge Investments LLC now owns 98,124 shares of the business services provider’s stock worth $9,173,000 after buying an additional 72,780 shares during the last quarter. Emerald Advisers LLC boosted its holdings in shares of NV5 Global by 3.2% in the 3rd quarter. Emerald Advisers LLC now owns 280,666 shares of the business services provider’s stock worth $26,237,000 after buying an additional 8,720 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its stake in shares of NV5 Global by 0.7% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 140,870 shares of the business services provider’s stock worth $13,169,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Versor Investments LP lifted its stake in NV5 Global by 23.7% in the third quarter. Versor Investments LP now owns 4,206 shares of the business services provider’s stock valued at $393,000 after purchasing an additional 806 shares during the last quarter. Institutional investors 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.