NV5 Global, Inc. (NASDAQ:NVEE) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its position in shares of NV5 Global, Inc. (NASDAQ:NVEE) by 4.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,944 shares of the business services provider’s stock after buying an additional 2,483 shares during the period. JPMorgan Chase & Co. owned approximately 0.10% of NV5 Global worth $5,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in NVEE. Blue Trust Inc. increased its stake in NV5 Global by 3,950.0% during the third quarter. Blue Trust Inc. now owns 648 shares of the business services provider’s stock worth $60,000 after acquiring an additional 632 shares during the last quarter. Net Worth Advisory Group purchased a new position in shares of NV5 Global during the 3rd quarter worth $211,000. Handelsbanken Fonder AB increased its position in shares of NV5 Global by 21.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,800 shares of the business services provider’s stock worth $262,000 after purchasing an additional 500 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in NV5 Global in the 2nd quarter valued at about $307,000. Finally, Commonwealth Equity Services LLC lifted its position in NV5 Global by 5.1% in the second quarter. Commonwealth Equity Services LLC now owns 3,459 shares of the business services provider’s stock valued at $322,000 after buying an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 75.54% of the company’s stock.

Analyst Upgrades and Downgrades

NVEE has been the topic of a number of research analyst reports. StockNews.com raised shares of NV5 Global from a “hold” rating to a “buy” rating in a research note on Thursday, December 26th. Robert W. Baird dropped their target price on shares of NV5 Global from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, November 8th.

Insiders Place Their Bets

In other NV5 Global news, VP Richard Tong sold 20,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $20.08, for a total value of $401,600.00. Following the completion of 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 legal filing with the SEC, which is available at the SEC website. Insiders own 12.40% of the company’s stock.

NV5 Global Price Performance

NVEE opened at $19.00 on Friday. The stock’s 50-day moving average price is $20.49 and its 200 day moving average price is $22.50. NV5 Global, Inc. has a 12-month low of $17.92 and a 12-month high of $28.29. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 33.78, a PEG ratio of 2.84 and a beta of 1.22. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.30.

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

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.