Essex Investment Management Co. LLC Grows Holdings in NV5 Global, Inc. (NASDAQ:NVEE)

Essex Investment Management Co. LLC grew its stake in shares of NV5 Global, Inc. (NASDAQ:NVEE) by 300.0% in the fourth quarter, Holdings Channel reports. The firm owned 5,600 shares of the business services provider’s stock after acquiring an additional 4,200 shares during the period. Essex Investment Management Co. LLC’s holdings in NV5 Global were worth $106,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Versor Investments LP lifted its holdings in NV5 Global by 23.7% during the 3rd quarter. Versor Investments LP now owns 4,206 shares of the business services provider’s stock valued at $393,000 after buying an additional 806 shares in the last quarter. Geneva Capital Management LLC raised its stake in shares of NV5 Global by 1.3% during the third quarter. Geneva Capital Management LLC now owns 432,721 shares of the business services provider’s stock valued at $40,451,000 after acquiring an additional 5,757 shares in the last quarter. MQS Management LLC bought a new position in NV5 Global in the third quarter worth approximately $415,000. Advisors Asset Management Inc. increased its holdings in NV5 Global by 7.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 26,700 shares of the business services provider’s stock worth $2,496,000 after purchasing an additional 1,963 shares during the period. Finally, King Luther Capital Management Corp increased its holdings in NV5 Global by 32.6% during the 3rd quarter. King Luther Capital Management Corp now owns 37,410 shares of the business services provider’s stock worth $3,497,000 after purchasing an additional 9,197 shares during the period. 75.54% of the stock is owned by hedge funds and other institutional investors.

NV5 Global Stock Performance

NVEE stock opened at $18.23 on Monday. NV5 Global, Inc. has a one year low of $16.77 and a one year high of $26.14. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 37.02, a PEG ratio of 2.63 and a beta of 1.22. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.05 and a current ratio of 2.05. The firm has a 50-day simple moving average of $18.26 and a two-hundred day simple moving average of $20.90.

NV5 Global (NASDAQ:NVEE) last announced its earnings results on Thursday, February 20th. The business services provider reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02). The firm had revenue of $246.52 million during the quarter, compared to analyst estimates of $243.46 million. NV5 Global had a net margin of 3.25% and a return on equity of 9.34%. On average, equities analysts forecast that NV5 Global, Inc. will post 1.26 EPS for the current fiscal year.

NV5 Global announced that its Board of Directors has approved a share buyback program on Monday, January 6th that permits the company to buyback $20.00 million in shares. This buyback authorization permits the business services provider to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

NVEE has been the topic of a number of recent research reports. Maxim Group dropped their price target on NV5 Global from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. StockNews.com downgraded shares of NV5 Global from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Roth Mkm upped their price target on shares of NV5 Global from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, February 21st.

Insider Activity at NV5 Global

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 shares were sold at an average price of $20.08, for a total value of $401,600.00. Following the completion of the transaction, the vice president now owns 45,584 shares of the company’s stock, 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 is accessible through the SEC website. 12.40% of the stock is currently owned by corporate insiders.

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.