Bank of New York Mellon Corp Buys 1,420,417 Shares of NV5 Global, Inc. (NASDAQ:NVEE)

Bank of New York Mellon Corp grew its stake in shares of NV5 Global, Inc. (NASDAQ:NVEE) by 1,572.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,510,725 shares of the business services provider’s stock after buying an additional 1,420,417 shares during the period. Bank of New York Mellon Corp owned 2.32% of NV5 Global worth $28,462,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Swedbank AB grew its holdings in shares of NV5 Global by 366.4% during the fourth quarter. Swedbank AB now owns 1,632,296 shares of the business services provider’s stock worth $30,752,000 after purchasing an additional 1,282,296 shares in the last quarter. Tributary Capital Management LLC grew its holdings in shares of NV5 Global by 397.1% during the fourth quarter. Tributary Capital Management LLC now owns 945,709 shares of the business services provider’s stock worth $17,817,000 after purchasing an additional 755,467 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in shares of NV5 Global by 297.2% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 559,480 shares of the business services provider’s stock worth $10,541,000 after purchasing an additional 418,610 shares in the last quarter. Geneva Capital Management LLC grew its holdings in shares of NV5 Global by 1.3% during the third quarter. Geneva Capital Management LLC now owns 432,721 shares of the business services provider’s stock worth $40,451,000 after purchasing an additional 5,757 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of NV5 Global by 1.6% during the third quarter. Geode Capital Management LLC now owns 327,042 shares of the business services provider’s stock worth $30,577,000 after purchasing an additional 5,035 shares in the last quarter. 75.54% of the stock is currently owned by institutional investors.

Insider Activity at NV5 Global

In other NV5 Global news, VP Richard Tong sold 20,000 shares of the 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 owns 45,584 shares in the company, valued at approximately $915,326.72. This represents a 30.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.40% of the stock is owned by corporate insiders.

NV5 Global Stock Performance

NASDAQ:NVEE opened at $18.23 on Friday. The firm has a market cap of $1.19 billion, a PE ratio of 37.02, a price-to-earnings-growth ratio of 2.63 and a beta of 1.22. NV5 Global, Inc. has a fifty-two week low of $16.77 and a fifty-two week high of $26.14. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.05 and a current ratio of 2.05. The business has a 50 day moving average price of $18.26 and a 200-day moving average price of $20.92.

NV5 Global (NASDAQ:NVEE) last released its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The company had revenue of $246.52 million for the quarter, compared to analysts’ expectations of $243.46 million. NV5 Global had a net margin of 3.25% and a return on equity of 9.34%. Equities research 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 stock repurchase plan on Monday, January 6th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the business services provider to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently commented on NVEE. Maxim Group cut 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. StockNews.com lowered NV5 Global from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Roth Mkm upped their target price on 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 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.