NV5 Global (NASDAQ:NVEE) Board Announces Share Buyback Program

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NVEE. Robert W. Baird decreased their price objective 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 raised shares of NV5 Global from a “hold” rating to a “buy” rating in a research note on Thursday, December 26th.

NV5 Global Trading Down 0.1 %

NVEE stock traded down $0.01 during midday trading on Monday, reaching $18.76. 390,752 shares of the company traded hands, compared to its average volume of 390,484. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 33.35, a P/E/G ratio of 3.21 and a beta of 1.22. NV5 Global has a 52-week low of $18.43 and a 52-week high of $28.29. The business has a 50 day moving average of $21.27 and a 200-day moving average of $22.74. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.05 and a current ratio of 2.05.

Insider Buying and Selling at NV5 Global

In other news, VP Richard Tong sold 20,000 shares of the 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 directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 12.40% of the company’s stock.

NV5 Global Company 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.