Pitcairn Co. Increases Position in NV5 Global, Inc. (NASDAQ:NVEE)

Pitcairn Co. increased its stake in shares of NV5 Global, Inc. (NASDAQ:NVEE) by 565.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,336 shares of the business services provider’s stock after purchasing an additional 18,981 shares during the quarter. Pitcairn Co.’s holdings in NV5 Global were worth $421,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NVEE. Blue Trust Inc. lifted its position 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. raised its stake in shares of NV5 Global by 296.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,584 shares of the business services provider’s stock worth $68,000 after acquiring an additional 2,680 shares in the last quarter. KBC Group NV lifted its position in 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 acquiring an additional 3,550 shares during the last quarter. Essex Investment Management Co. LLC boosted its stake in NV5 Global by 300.0% in the fourth quarter. Essex Investment Management Co. LLC now owns 5,600 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 4,200 shares in the last quarter. Finally, Cetera Trust Company N.A grew its holdings in NV5 Global by 166.8% in the fourth quarter. Cetera Trust Company N.A now owns 5,710 shares of the business services provider’s stock worth $108,000 after purchasing an additional 3,570 shares during the last quarter. Institutional investors own 75.54% of the company’s stock.

NV5 Global Trading Down 7.5 %

NASDAQ:NVEE opened at $18.00 on Friday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.30. The firm has a fifty day simple moving average of $18.25 and a 200-day simple moving average of $20.28. NV5 Global, Inc. has a 12 month low of $16.77 and a 12 month high of $26.14. The company has a market capitalization of $1.17 billion, a P/E ratio of 36.55, a PEG ratio of 2.63 and a beta of 1.22.

NV5 Global (NASDAQ:NVEE) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $243.46 million. On average, equities research analysts anticipate that NV5 Global, Inc. will post 1.26 earnings per share for the current year.

NV5 Global announced that its board has authorized a share buyback program 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 reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have recently weighed in on NVEE. Maxim Group lowered their price objective on NV5 Global from $29.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, February 21st. StockNews.com downgraded NV5 Global from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Roth Mkm boosted their price target 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 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.