Share Buyback Plan Approved by NV5 Global (NASDAQ:NVEE) Board of Directors

NV5 Global (NASDAQ:NVEE) declared that its Board of Directors has initiated a stock repurchase program on Monday, January 6th, RTT News reports. The company plans to repurchase $20.00 million in outstanding shares. This repurchase authorization permits the business services provider to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com raised NV5 Global from a “hold” rating to a “buy” rating in a research report on Thursday, December 26th. Robert W. Baird cut their price target on NV5 Global from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th.

NV5 Global Stock Down 0.1 %

Shares of NASDAQ NVEE traded down $0.01 during midday trading on Monday, reaching $18.76. 390,752 shares of the company’s stock traded hands, compared to its average volume of 390,484. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 33.35, a P/E/G ratio of 3.21 and a beta of 1.22. The stock’s 50 day simple moving average is $21.27 and its 200-day simple moving average is $22.74. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.30. NV5 Global has a one year low of $18.43 and a one year high of $28.29.

Insiders Place Their Bets

In other NV5 Global 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 transaction, the vice president now owns 45,584 shares in the company, valued at $915,326.72. The trade was a 30.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.40% of the stock is owned by company 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.