State of Alaska Department of Revenue Has $556,000 Holdings in NV5 Global, Inc. (NASDAQ:NVEE)

State of Alaska Department of Revenue raised its position in NV5 Global, Inc. (NASDAQ:NVEE - Free Report) by 297.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 29,556 shares of the business services provider's stock after buying an additional 22,123 shares during the period. State of Alaska Department of Revenue's holdings in NV5 Global were worth $556,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of NVEE. Blue Trust Inc. boosted its position in shares of NV5 Global by 3,950.0% in 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 during the last quarter. KBC Group NV boosted its position in shares of NV5 Global by 527.5% in the 4th quarter. KBC Group NV now owns 4,223 shares of the business services provider's stock worth $80,000 after purchasing an additional 3,550 shares during the last quarter. Cetera Trust Company N.A boosted its position in shares of NV5 Global by 166.8% in the 4th quarter. Cetera Trust Company N.A now owns 5,710 shares of the business services provider's stock worth $108,000 after purchasing an additional 3,570 shares during the last quarter. Liberty One Investment Management LLC boosted its position in shares of NV5 Global by 317.9% in the 4th quarter. Liberty One Investment Management LLC now owns 6,779 shares of the business services provider's stock worth $128,000 after purchasing an additional 5,157 shares during the last quarter. Finally, Heritage Family Offices LLP bought a new position in NV5 Global during the fourth quarter worth about $196,000. 75.54% of the stock is currently owned by institutional investors.

NV5 Global Stock Down 1.0 %

Shares of NVEE traded down $0.18 during midday trading on Tuesday, hitting $17.32. The stock had a trading volume of 122,095 shares, compared to its average volume of 387,524. The company has a 50 day simple moving average of $18.73 and a two-hundred day simple moving average of $21.50. NV5 Global, Inc. has a twelve month low of $17.24 and a twelve month high of $27.77. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 30.78, a price-to-earnings-growth ratio of 2.73 and a beta of 1.23. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.05 and a quick ratio of 2.05.

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 buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NVEE. Robert W. Baird reduced their target price on NV5 Global from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, November 8th. StockNews.com upgraded NV5 Global from a "hold" rating to a "buy" rating in a report on Thursday, December 26th.

Insider Activity at NV5 Global

In related news, VP Richard Tong sold 20,000 shares of NV5 Global 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 sale, the vice president now owns 45,584 shares of the company's stock, valued at approximately $915,326.72. The trade was a 30.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.40% of the stock is owned by company insiders.

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.