NV5 Global, Inc. (NASDAQ:NVEE) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in NV5 Global, Inc. (NASDAQ:NVEE - Free Report) by 1,572.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,510,725 shares of the business services provider's stock after buying an additional 1,420,417 shares during the period. Bank of New York Mellon Corp owned approximately 2.32% of NV5 Global worth $28,462,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its holdings in NV5 Global by 12.5% in the third quarter. BNP Paribas Financial Markets now owns 6,342 shares of the business services provider's stock valued at $593,000 after acquiring an additional 703 shares during the period. Versor Investments LP lifted its holdings 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 acquiring an additional 806 shares during the period. Blue Trust Inc. lifted its holdings in NV5 Global by 287.7% in the fourth quarter. Blue Trust Inc. now owns 2,512 shares of the business services provider's stock valued at $47,000 after acquiring an additional 1,864 shares during the period. Advisors Asset Management Inc. lifted its holdings in NV5 Global by 7.9% in the third quarter. Advisors Asset Management Inc. now owns 26,700 shares of the business services provider's stock valued at $2,496,000 after acquiring an additional 1,963 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in NV5 Global by 42.5% in the third quarter. Janus Henderson Group PLC now owns 8,040 shares of the business services provider's stock valued at $750,000 after acquiring an additional 2,396 shares during the period. Institutional investors and hedge funds own 75.54% of the company's stock.

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NV5 Global Trading Up 1.6 %

Shares of NASDAQ:NVEE traded up $0.28 during trading on Friday, reaching $18.23. 409,567 shares of the stock were exchanged, compared to its average volume of 367,318. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.05 and a current ratio of 2.05. NV5 Global, Inc. has a 12-month low of $16.77 and a 12-month high of $26.14. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 37.02, a price-to-earnings-growth ratio of 2.63 and a beta of 1.22. The firm's 50-day moving average price is $18.26 and its 200 day moving average price is $20.92.

NV5 Global (NASDAQ:NVEE - Get Free Report) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.28 earnings per share (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 firm had revenue of $246.52 million for the quarter, compared to analysts' expectations of $243.46 million. On average, sell-side analysts anticipate that NV5 Global, Inc. will post 1.26 earnings per share for the current fiscal year.

NV5 Global announced that its board has initiated a share repurchase plan on Monday, January 6th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Maxim Group reduced their target price on NV5 Global from $29.00 to $24.00 and set a "buy" rating for the company in a report on Friday, February 21st. Roth Mkm lifted their price target on NV5 Global from $27.00 to $28.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, StockNews.com downgraded NV5 Global from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th.

Insider Activity

In other NV5 Global news, VP Richard Tong sold 20,000 shares of the firm's stock in a transaction 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 sale, the vice president now directly owns 45,584 shares in the company, valued at approximately $915,326.72. This trade represents a 30.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 12.40% of the company's stock.

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.