Ashford Capital Management Inc. Buys 411,810 Shares of NV5 Global, Inc. (NASDAQ:NVEE)

Ashford Capital Management Inc. grew its stake in shares of NV5 Global, Inc. (NASDAQ:NVEE) by 299.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 549,500 shares of the business services provider’s stock after purchasing an additional 411,810 shares during the period. NV5 Global accounts for approximately 1.2% of Ashford Capital Management Inc.’s holdings, making the stock its 29th biggest position. Ashford Capital Management Inc.’s holdings in NV5 Global were worth $10,353,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Barclays PLC increased its stake in NV5 Global by 352.5% during the third quarter. Barclays PLC now owns 23,906 shares of the business services provider’s stock valued at $2,235,000 after acquiring an additional 18,623 shares during the period. Liberty One Investment Management LLC increased its position in shares of NV5 Global by 317.9% during the fourth quarter. Liberty One Investment Management LLC now owns 6,779 shares of the business services provider’s stock valued at $128,000 after purchasing an additional 5,157 shares during the period. Cetera Trust Company N.A increased its position in shares of NV5 Global by 166.8% during the fourth quarter. Cetera Trust Company N.A now owns 5,710 shares of the business services provider’s stock valued at $108,000 after purchasing an additional 3,570 shares during the period. SG Americas Securities LLC acquired a new position in shares of NV5 Global in the fourth quarter valued at $235,000. Finally, Janney Montgomery Scott LLC lifted its position in NV5 Global by 370.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 13,750 shares of the business services provider’s stock worth $259,000 after purchasing an additional 10,830 shares during the period. Institutional investors own 75.54% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on NVEE. Maxim Group lowered their price target on shares of NV5 Global from $29.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, February 21st. StockNews.com cut shares of NV5 Global from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. William Blair restated a “market perform” rating on shares of NV5 Global in a research note on Thursday, May 15th. Roth Mkm lifted their price objective on NV5 Global from $27.00 to $28.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Lake Street Capital cut NV5 Global from a “buy” rating to a “hold” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, NV5 Global has a consensus rating of “Hold” and a consensus target price of $25.67.

NV5 Global Price Performance

Shares of NASDAQ:NVEE opened at $22.05 on Tuesday. The company’s fifty day moving average is $18.07 and its 200-day moving average is $19.05. 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 $14.75 and a 52 week high of $26.14. The company has a market capitalization of $1.45 billion, a PE ratio of 44.77, a P/E/G ratio of 2.63 and a beta of 1.08.

NV5 Global (NASDAQ:NVEE) last released its quarterly earnings results on Thursday, May 1st. The business services provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The firm had revenue of $123.20 million during the quarter, compared to analyst estimates of $229.89 million. NV5 Global had a net margin of 3.25% and a return on equity of 9.34%. Equities research analysts predict that NV5 Global, Inc. will post 1.26 earnings per share for the current fiscal year.

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.