First Eagle Investment Management LLC Takes Position in NV5 Global, Inc. (NASDAQ:NVEE)

First Eagle Investment Management LLC acquired a new stake in shares of NV5 Global, Inc. (NASDAQ:NVEE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 276,700 shares of the business services provider’s stock, valued at approximately $5,213,000. First Eagle Investment Management LLC owned about 0.43% of NV5 Global at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of NV5 Global by 287.7% during the fourth quarter. Blue Trust Inc. now owns 2,512 shares of the business services provider’s stock valued at $47,000 after buying an additional 1,864 shares during the last quarter. SRS Capital Advisors Inc. grew its holdings in shares of NV5 Global by 296.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,584 shares of the business services provider’s stock valued at $68,000 after buying an additional 2,680 shares during the last quarter. KBC Group NV grew its holdings in shares of NV5 Global by 527.5% during the fourth quarter. KBC Group NV now owns 4,223 shares of the business services provider’s stock valued at $80,000 after buying an additional 3,550 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of NV5 Global during the third quarter valued at about $488,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of NV5 Global during the third quarter valued at about $492,000. 75.54% of the stock is currently owned by institutional investors and hedge funds.

NV5 Global Stock Performance

Shares of NVEE stock opened at $18.18 on Friday. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 36.91, a P/E/G ratio of 2.63 and a beta of 1.22. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.05 and a current ratio of 2.05. NV5 Global, Inc. has a 52 week low of $16.77 and a 52 week high of $26.14. The firm’s 50-day simple moving average is $18.16 and its two-hundred day simple moving average is $20.70.

NV5 Global (NASDAQ:NVEE) last announced its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). The company had revenue of $246.52 million during the quarter, compared to the consensus estimate of $243.46 million. NV5 Global had a return on equity of 9.34% and a net margin of 3.25%. As a group, equities analysts forecast that NV5 Global, Inc. will post 1.26 earnings per share for the current year.

NV5 Global announced that its board has initiated a stock repurchase plan on Monday, January 6th that allows the company to repurchase $20.00 million in outstanding 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 typically an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

NVEE has been the topic of a number of recent analyst reports. Maxim Group dropped their price target on shares of NV5 Global from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Roth Mkm raised their price target on shares of NV5 Global from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, StockNews.com lowered shares of NV5 Global from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th.

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.