Geneva Capital Management LLC Grows Position in NV5 Global, Inc. (NASDAQ:NVEE)

Geneva Capital Management LLC raised its stake in NV5 Global, Inc. (NASDAQ:NVEE) by 274.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,618,475 shares of the business services provider’s stock after purchasing an additional 1,185,754 shares during the quarter. Geneva Capital Management LLC owned 2.49% of NV5 Global worth $30,492,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of NVEE. Kornitzer Capital Management Inc. KS grew its stake in shares of NV5 Global by 0.7% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 140,870 shares of the business services provider’s stock valued at $13,169,000 after purchasing an additional 1,000 shares during the last quarter. Versor Investments LP boosted its stake in shares of NV5 Global by 23.7% in the third quarter. Versor Investments LP now owns 4,206 shares of the business services provider’s stock valued at $393,000 after buying an additional 806 shares in the last quarter. MQS Management LLC purchased a new stake in shares of NV5 Global in the third quarter valued at approximately $415,000. Advisors Asset Management Inc. boosted its stake in shares of NV5 Global by 7.9% in the third quarter. Advisors Asset Management Inc. now owns 26,700 shares of the business services provider’s stock valued at $2,496,000 after buying an additional 1,963 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its stake in shares of NV5 Global by 32.6% in the third quarter. King Luther Capital Management Corp now owns 37,410 shares of the business services provider’s stock valued at $3,497,000 after buying an additional 9,197 shares in the last quarter. 75.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NVEE has been the topic of a number of analyst reports. StockNews.com downgraded NV5 Global from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Roth Mkm lifted their price target on NV5 Global from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Robert W. Baird decreased their price target on NV5 Global from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Finally, Maxim Group reduced 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.

NV5 Global Stock Performance

NASDAQ NVEE opened at $17.89 on Thursday. NV5 Global, Inc. has a fifty-two week low of $16.77 and a fifty-two week high of $26.14. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 36.32, a price-to-earnings-growth ratio of 2.63 and a beta of 1.23. The business has a fifty day moving average of $18.29 and a 200-day moving average of $21.00. 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 quarterly earnings results 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). NV5 Global had a return on equity of 9.34% and a net margin of 3.25%. The company had revenue of $246.52 million during the quarter, compared to analyst estimates of $243.46 million. As a group, analysts predict that NV5 Global, Inc. will post 1.26 earnings per share for the current fiscal year.

NV5 Global announced that its Board of Directors has approved a share buyback plan on Monday, January 6th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the business services provider to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions 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 sale, the vice president now owns 45,584 shares of the company’s stock, valued at $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 is available at the SEC website. Insiders own 12.40% of the company’s stock.

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.