Essex Investment Management Co. LLC Purchases 4,200 Shares of NV5 Global, Inc. (NASDAQ:NVEE)

Essex Investment Management Co. LLC grew its holdings in NV5 Global, Inc. (NASDAQ:NVEE) by 300.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,600 shares of the business services provider’s stock after buying an additional 4,200 shares during the quarter. Essex Investment Management Co. LLC’s holdings in NV5 Global were worth $106,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVEE. Blue Trust Inc. raised its holdings in NV5 Global by 287.7% in the 4th quarter. Blue Trust Inc. now owns 2,512 shares of the business services provider’s stock worth $47,000 after purchasing an additional 1,864 shares in the last quarter. SRS Capital Advisors Inc. grew its holdings in NV5 Global by 296.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,584 shares of the business services provider’s stock worth $68,000 after purchasing an additional 2,680 shares during the period. KBC Group NV grew its holdings in NV5 Global by 527.5% in the fourth 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 period. Cetera Trust Company N.A increased its position in NV5 Global by 166.8% during the 4th quarter. Cetera Trust Company N.A now owns 5,710 shares of the business services provider’s stock valued at $108,000 after buying an additional 3,570 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of NV5 Global by 359.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,134 shares of the business services provider’s stock worth $116,000 after purchasing an additional 4,799 shares during the last quarter. Institutional investors own 75.54% of the company’s stock.

Insiders Place Their Bets

In related news, VP Richard Tong sold 20,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $20.08, for a total transaction of $401,600.00. Following the sale, the vice president now owns 45,584 shares in the company, valued at approximately $915,326.72. This represents a 30.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 12.40% of the company’s stock.

NV5 Global Price Performance

NASDAQ:NVEE opened at $18.23 on Monday. The business’s 50-day simple moving average is $18.26 and its two-hundred day simple moving average is $20.90. 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, Inc. has a 52 week low of $16.77 and a 52 week high of $26.14. The stock has a market cap of $1.19 billion, a PE ratio of 37.02, a P/E/G ratio of 2.63 and a beta of 1.22.

NV5 Global (NASDAQ:NVEE) last issued its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.28 earnings per share 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 analysts’ expectations of $243.46 million. NV5 Global had a net margin of 3.25% and a return on equity of 9.34%. As a group, analysts forecast that NV5 Global, Inc. will post 1.26 EPS for the current fiscal year.

NV5 Global announced that its board has initiated a stock buyback program on Monday, January 6th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the business services provider to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

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