Envestnet Asset Management Inc. Increases Stock Position in NV5 Global, Inc. (NASDAQ:NVEE)

Envestnet Asset Management Inc. boosted its stake in NV5 Global, Inc. (NASDAQ:NVEE - Free Report) by 322.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 173,273 shares of the business services provider's stock after purchasing an additional 132,260 shares during the period. Envestnet Asset Management Inc. owned about 0.27% of NV5 Global worth $3,264,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Swiss National Bank increased its position in NV5 Global by 306.0% during the 4th quarter. Swiss National Bank now owns 115,300 shares of the business services provider's stock valued at $2,172,000 after purchasing an additional 86,900 shares during the period. QV Investors Inc. raised its holdings in shares of NV5 Global by 914.2% during the fourth 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. Nordea Investment Management AB boosted its position in shares of NV5 Global by 313.3% during the 4th quarter. Nordea Investment Management AB now owns 97,546 shares of the business services provider's stock worth $1,853,000 after purchasing an additional 73,944 shares in the last quarter. Linden Thomas Advisory Services LLC grew its stake in shares of NV5 Global by 292.4% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 50,169 shares of the business services provider's stock valued at $945,000 after buying an additional 37,384 shares during the period. Finally, JPMorgan Chase & Co. increased its position in NV5 Global by 4.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 62,944 shares of the business services provider's stock valued at $5,884,000 after buying an additional 2,483 shares in the last quarter. 75.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

NV5 Global Stock Up 1.9 %

NASDAQ:NVEE traded up $0.33 on Tuesday, hitting $17.76. The stock had a trading volume of 411,244 shares, compared to its average volume of 529,016. The firm's fifty day simple moving average is $17.59 and its two-hundred day simple moving average is $19.42. The stock has a market cap of $1.16 billion, a P/E ratio of 36.07, a price-to-earnings-growth ratio of 2.63 and a beta of 1.07. NV5 Global, Inc. has a 1 year low of $14.75 and a 1 year high of $26.14. 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 (NASDAQ:NVEE - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). NV5 Global had a net margin of 3.25% and a return on equity of 9.34%. The firm had revenue of $246.52 million during the quarter, compared to analysts' expectations of $243.46 million. Analysts predict that NV5 Global, Inc. will post 1.26 earnings per share for the current year.

NV5 Global declared that its board has approved a stock buyback 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 purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

NV5 Global Company 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.