Handelsbanken Fonder AB Raises Stock Position in NV5 Global, Inc. (NASDAQ:NVEE)

Handelsbanken Fonder AB lifted its stake in NV5 Global, Inc. (NASDAQ:NVEE) by 260.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,100 shares of the business services provider’s stock after buying an additional 7,300 shares during the period. Handelsbanken Fonder AB’s holdings in NV5 Global were worth $190,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Alberta Investment Management Corp boosted its stake in NV5 Global by 294.2% in the fourth quarter. Alberta Investment Management Corp now owns 47,209 shares of the business services provider’s stock valued at $889,000 after acquiring an additional 35,232 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of NV5 Global by 300.0% in the 4th quarter. New York State Common Retirement Fund now owns 17,668 shares of the business services provider’s stock valued at $333,000 after purchasing an additional 13,251 shares during the period. Kornitzer Capital Management Inc. KS boosted its position in shares of NV5 Global by 297.2% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 559,480 shares of the business services provider’s stock valued at $10,541,000 after purchasing an additional 418,610 shares during the period. Principal Financial Group Inc. grew its stake in NV5 Global by 311.3% during the 4th quarter. Principal Financial Group Inc. now owns 253,115 shares of the business services provider’s stock worth $4,769,000 after buying an additional 191,572 shares during the last quarter. Finally, Rhumbline Advisers increased its position in NV5 Global by 300.9% during the fourth quarter. Rhumbline Advisers now owns 165,876 shares of the business services provider’s stock worth $3,125,000 after buying an additional 124,502 shares during the period. 75.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NV5 Global

In other NV5 Global news, VP Richard Tong sold 20,000 shares of NV5 Global stock in a transaction that occurred 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 sale, the vice president now owns 45,584 shares of the company’s stock, valued at approximately $915,326.72. The trade was a 30.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Maxim Group decreased their price objective on NV5 Global from $29.00 to $24.00 and set a “buy” rating for the company in a report on Friday, February 21st. Robert W. Baird decreased their price target on shares of 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 lowered shares of NV5 Global from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Roth Mkm increased their target price on shares of NV5 Global from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, February 21st.

NV5 Global Price Performance

NV5 Global stock opened at $17.39 on Tuesday. NV5 Global, Inc. has a 12 month low of $16.77 and a 12 month high of $26.14. 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 business has a 50 day simple moving average of $18.33 and a 200-day simple moving average of $21.06. The stock has a market capitalization of $1.13 billion, a PE ratio of 35.31, a price-to-earnings-growth ratio of 2.63 and a beta of 1.23.

NV5 Global (NASDAQ:NVEE) last announced 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 net margin of 3.25% and a return on equity of 9.34%. The firm had revenue of $246.52 million during the quarter, compared to analyst estimates of $243.46 million. Equities analysts predict that NV5 Global, Inc. will post 1.26 earnings per share for the current year.

NV5 Global declared that its Board of Directors has authorized a share buyback program on Monday, January 6th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the business services provider to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors 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.