NV5 Global, Inc. (NASDAQ:NVEE) Stake Boosted by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its stake in NV5 Global, Inc. (NASDAQ:NVEE) by 300.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,592 shares of the business services provider’s stock after acquiring an additional 13,194 shares during the quarter. Maryland State Retirement & Pension System’s holdings in NV5 Global were worth $331,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank AB increased its position in NV5 Global by 366.4% in the 4th quarter. Swedbank AB now owns 1,632,296 shares of the business services provider’s stock worth $30,752,000 after purchasing an additional 1,282,296 shares during the last quarter. Geneva Capital Management LLC grew its stake in shares of NV5 Global by 274.0% in the 4th quarter. Geneva Capital Management LLC now owns 1,618,475 shares of the business services provider’s stock valued at $30,492,000 after buying an additional 1,185,754 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in NV5 Global by 1,572.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,510,725 shares of the business services provider’s stock worth $28,462,000 after buying an additional 1,420,417 shares during the last quarter. Tributary Capital Management LLC raised its position in NV5 Global by 397.1% during the fourth quarter. Tributary Capital Management LLC now owns 945,709 shares of the business services provider’s stock valued at $17,817,000 after acquiring an additional 755,467 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in NV5 Global by 325.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 686,061 shares of the business services provider’s stock valued at $12,925,000 after acquiring an additional 524,937 shares during the last quarter. 75.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NVEE. Roth Mkm increased their price target on shares of NV5 Global from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Maxim Group lowered their target price on shares of NV5 Global from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Finally, StockNews.com cut NV5 Global from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th.

NV5 Global Price Performance

NASDAQ NVEE opened at $19.42 on Wednesday. NV5 Global, Inc. has a 1 year low of $16.77 and a 1 year high of $26.14. The company has a fifty day simple moving average of $18.18 and a 200 day simple moving average of $20.46. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.30. The company has a market cap of $1.27 billion, a P/E ratio of 39.43, a P/E/G ratio of 2.63 and a beta of 1.22.

NV5 Global (NASDAQ:NVEE) last released its quarterly 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). The firm had revenue of $246.52 million for the quarter, compared to the consensus estimate of $243.46 million. NV5 Global had a net margin of 3.25% and a return on equity of 9.34%. On average, sell-side analysts predict that NV5 Global, Inc. will post 1.26 EPS for the current year.

NV5 Global announced that its board has authorized a stock 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 repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.