Alliancebernstein L.P. Purchases 45,031 Shares of NV5 Global, Inc. (NASDAQ:NVEE)

Alliancebernstein L.P. grew its holdings in NV5 Global, Inc. (NASDAQ:NVEE - Free Report) by 302.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 59,898 shares of the business services provider's stock after purchasing an additional 45,031 shares during the quarter. Alliancebernstein L.P. owned about 0.09% of NV5 Global worth $1,128,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC increased its position in NV5 Global by 352.5% during the third quarter. Barclays PLC now owns 23,906 shares of the business services provider's stock worth $2,235,000 after acquiring an additional 18,623 shares during the period. Geode Capital Management LLC raised its stake in shares of NV5 Global by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 327,042 shares of the business services provider's stock valued at $30,577,000 after buying an additional 5,035 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of NV5 Global by 4.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 62,944 shares of the business services provider's stock worth $5,884,000 after acquiring an additional 2,483 shares during the period. Nordea Investment Management AB increased its stake in NV5 Global by 313.3% in the fourth quarter. Nordea Investment Management AB now owns 97,546 shares of the business services provider's stock valued at $1,853,000 after acquiring an additional 73,944 shares during the period. Finally, QV Investors Inc. grew its stake in shares of NV5 Global by 914.2% in the 4th quarter. QV Investors Inc. now owns 48,580 shares of the business services provider's stock valued at $915,000 after purchasing an additional 43,790 shares during the period. Institutional investors own 75.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NVEE. Roth Mkm upped their price target on NV5 Global from $27.00 to $28.00 and gave the company a "buy" rating in a research report on Friday, February 21st. StockNews.com cut shares of NV5 Global from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Finally, Maxim Group lowered their target price on NV5 Global from $29.00 to $24.00 and set a "buy" rating for the company in a research note on Friday, February 21st.

NV5 Global Trading Up 0.7 %

NVEE opened at $15.82 on Friday. NV5 Global, Inc. has a fifty-two week low of $15.14 and a fifty-two week high of $26.14. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 2.63 and a beta of 1.07. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.05 and a quick ratio of 2.05. The firm has a 50 day simple moving average of $17.76 and a 200 day simple moving average of $19.76.

NV5 Global (NASDAQ:NVEE - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.02). NV5 Global had a return on equity of 9.34% and a net margin of 3.25%. The company had revenue of $246.52 million for the quarter, compared to analyst estimates of $243.46 million. On average, sell-side analysts anticipate that NV5 Global, Inc. will post 1.26 earnings per share for the current year.

NV5 Global declared that its board has initiated a share repurchase plan on Monday, January 6th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the business services provider to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

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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