NV5 Global (NASDAQ:NVEE) to Repurchase $20.00 million in Stock

NV5 Global (NASDAQ:NVEE) announced that its Board of Directors has approved a stock buyback plan on Monday, January 6th, RTT News reports. The company plans to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

NV5 Global Stock Performance

NASDAQ:NVEE opened at $18.76 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.05 and a quick ratio of 2.05. The company has a market capitalization of $1.22 billion, a P/E ratio of 33.35, a P/E/G ratio of 3.21 and a beta of 1.22. NV5 Global has a 1 year low of $18.43 and a 1 year high of $28.29. The business has a fifty day simple moving average of $21.27 and a two-hundred day simple moving average of $22.74.

Analyst Ratings Changes

Several research firms recently commented on NVEE. Robert W. Baird decreased their target price on NV5 Global from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. StockNews.com raised shares of NV5 Global from a “hold” rating to a “buy” rating in a research report on Thursday, December 26th.

Insiders Place Their Bets

In related news, VP Richard Tong sold 20,000 shares of the business’s 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 directly owns 45,584 shares in the company, valued at approximately $915,326.72. The trade was a 30.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 12.40% of the company’s stock.

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.