State of Alaska Department of Revenue Acquires 22,123 Shares of NV5 Global, Inc. (NASDAQ:NVEE)

State of Alaska Department of Revenue increased its holdings in shares of NV5 Global, Inc. (NASDAQ:NVEE) by 297.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,556 shares of the business services provider’s stock after acquiring an additional 22,123 shares during the quarter. State of Alaska Department of Revenue’s holdings in NV5 Global were worth $556,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. lifted its holdings 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 period. KBC Group NV lifted its holdings in NV5 Global by 527.5% during the fourth quarter. KBC Group NV now owns 4,223 shares of the business services provider’s stock worth $80,000 after acquiring an additional 3,550 shares during the period. Cetera Trust Company N.A lifted its holdings in NV5 Global by 166.8% during the fourth quarter. Cetera Trust Company N.A now owns 5,710 shares of the business services provider’s stock worth $108,000 after acquiring an additional 3,570 shares during the period. Liberty One Investment Management LLC lifted its holdings in NV5 Global by 317.9% during the fourth quarter. Liberty One Investment Management LLC now owns 6,779 shares of the business services provider’s stock worth $128,000 after acquiring an additional 5,157 shares during the period. Finally, Heritage Family Offices LLP bought a new stake in NV5 Global during the fourth quarter worth $196,000. 75.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at NV5 Global

In other news, VP Richard Tong sold 20,000 shares of NV5 Global stock in a transaction on Friday, December 13th. The stock was 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 directly owns 45,584 shares in the company, valued at approximately $915,326.72. The trade was a 30.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.40% of the company’s stock.

NV5 Global Stock Performance

Shares of NVEE opened at $17.49 on Friday. The firm has a market cap of $1.14 billion, a PE ratio of 31.09, a PEG ratio of 2.73 and a beta of 1.23. The stock’s fifty day moving average price is $18.86 and its two-hundred day moving average price is $21.66. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.05 and a quick ratio of 2.05. NV5 Global, Inc. has a 1 year low of $17.24 and a 1 year high of $28.14.

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

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.