Advisors Asset Management Inc. Acquires 127,269 Shares of NV5 Global, Inc. (NASDAQ:NVEE)

Advisors Asset Management Inc. increased its holdings in shares of NV5 Global, Inc. (NASDAQ:NVEE) by 476.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 153,969 shares of the business services provider’s stock after purchasing an additional 127,269 shares during the quarter. Advisors Asset Management Inc.’s holdings in NV5 Global were worth $2,901,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NVEE. Bank of New York Mellon Corp increased its stake 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 valued at $28,462,000 after purchasing an additional 1,420,417 shares in the last quarter. Swedbank AB increased its stake in NV5 Global by 366.4% in the fourth quarter. Swedbank AB now owns 1,632,296 shares of the business services provider’s stock valued at $30,752,000 after purchasing an additional 1,282,296 shares in the last quarter. Geneva Capital Management LLC increased its stake in NV5 Global by 274.0% in the fourth quarter. Geneva Capital Management LLC now owns 1,618,475 shares of the business services provider’s stock valued at $30,492,000 after purchasing an additional 1,185,754 shares in the last quarter. Tributary Capital Management LLC increased its stake in NV5 Global by 397.1% in 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 purchasing an additional 755,467 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased 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 purchasing an additional 524,937 shares in the last quarter. 75.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

NV5 Global Stock Down 0.9 %

Shares of NVEE stock opened at $18.70 on Friday. The firm has a fifty day moving average of $18.13 and a 200-day moving average of $20.54. 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 12-month low of $16.77 and a 12-month high of $26.14. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 37.97, 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 (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.02). NV5 Global had a return on equity of 9.34% and a net margin of 3.25%. The company had revenue of $246.52 million for the quarter, compared to the consensus estimate of $243.46 million. As a group, equities research analysts predict that NV5 Global, Inc. will post 1.26 earnings per share for the current fiscal year.

NV5 Global declared that its Board of Directors has approved a stock buyback program on Monday, January 6th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the business services provider to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

NV5 Global Company 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.