Pitcairn Co. Raises Holdings in NV5 Global, Inc. (NASDAQ:NVEE)

Pitcairn Co. boosted its stake in shares of NV5 Global, Inc. (NASDAQ:NVEE) by 565.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,336 shares of the business services provider’s stock after acquiring an additional 18,981 shares during the quarter. Pitcairn Co.’s holdings in NV5 Global were worth $421,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of NV5 Global by 288.4% during the 4th quarter. Vanguard Group Inc. now owns 3,761,947 shares of the business services provider’s stock worth $70,875,000 after purchasing an additional 2,793,280 shares during the period. American Century Companies Inc. boosted its holdings in NV5 Global by 322.4% during the fourth quarter. American Century Companies Inc. now owns 2,147,358 shares of the business services provider’s stock worth $40,456,000 after buying an additional 1,639,014 shares in the last quarter. Swedbank AB grew its position in NV5 Global by 366.4% during the fourth quarter. Swedbank AB now owns 1,632,296 shares of the business services provider’s stock valued at $30,752,000 after buying an additional 1,282,296 shares during the period. Geneva Capital Management LLC increased its holdings in NV5 Global by 274.0% in the fourth quarter. Geneva Capital Management LLC now owns 1,618,475 shares of the business services provider’s stock valued at $30,492,000 after buying an additional 1,185,754 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of NV5 Global by 1,572.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,510,725 shares of the business services provider’s stock worth $28,462,000 after acquiring an additional 1,420,417 shares during the period. 75.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVEE has been the topic of a number of analyst reports. StockNews.com cut NV5 Global from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Maxim Group dropped their price objective on NV5 Global from $29.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, February 21st. 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 Stock Down 7.5 %

NVEE opened at $18.00 on Friday. The company has a market cap of $1.17 billion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 2.63 and a beta of 1.22. NV5 Global, Inc. has a twelve month low of $16.77 and a twelve month high of $26.14. The company has a 50-day moving average price of $18.25 and a 200 day moving average price of $20.28. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.30.

NV5 Global (NASDAQ:NVEE) last released its earnings results on Thursday, February 20th. The business services provider reported $0.28 earnings per share 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 analysts’ expectations of $243.46 million. Sell-side analysts expect that NV5 Global, Inc. will post 1.26 earnings per share for the current fiscal year.

NV5 Global announced that its board has initiated a share buyback program on Monday, January 6th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the business services provider to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

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.