Louisiana State Employees Retirement System Grows Position in NV5 Global, Inc. (NASDAQ:NVEE)

Louisiana State Employees Retirement System lifted its holdings in shares of NV5 Global, Inc. (NASDAQ:NVEE) by 300.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 25,200 shares of the business services provider’s stock after acquiring an additional 18,900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in NV5 Global were worth $475,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Blue Trust Inc. grew its holdings in shares of NV5 Global by 3,950.0% during the 3rd quarter. Blue Trust Inc. now owns 648 shares of the business services provider’s stock worth $60,000 after purchasing an additional 632 shares during the period. BNP Paribas Financial Markets boosted its holdings in NV5 Global by 12.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,342 shares of the business services provider’s stock valued at $593,000 after acquiring an additional 703 shares during the period. Versor Investments LP boosted its holdings in NV5 Global by 23.7% during the 3rd quarter. Versor Investments LP now owns 4,206 shares of the business services provider’s stock valued at $393,000 after acquiring an additional 806 shares during the period. Kornitzer Capital Management Inc. KS boosted its holdings in NV5 Global by 0.7% during 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 acquiring an additional 1,000 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in NV5 Global by 7.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 26,700 shares of the business services provider’s stock valued at $2,496,000 after acquiring an additional 1,963 shares during the period. 75.54% of the stock is currently owned by hedge funds and other institutional investors.

NV5 Global Stock Performance

Shares of NVEE opened at $17.07 on Wednesday. The stock has a 50-day simple moving average of $18.73 and a 200-day simple moving average of $21.50. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a market capitalization of $1.11 billion, a PE ratio of 30.35, a PEG ratio of 2.73 and a beta of 1.23. NV5 Global, Inc. has a 1 year low of $17.01 and a 1 year high of $27.77.

NV5 Global announced that its Board of Directors has authorized a stock repurchase program on Monday, January 6th that allows the company to buyback $20.00 million in outstanding 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 generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, VP Richard Tong sold 20,000 shares of NV5 Global stock in a transaction dated 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 transaction, the vice president now owns 45,584 shares in the company, valued at approximately $915,326.72. This trade represents a 30.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 12.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on NVEE shares. StockNews.com upgraded NV5 Global from a “hold” rating to a “buy” rating in a report on Thursday, December 26th. Robert W. Baird lowered their target price on NV5 Global from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, November 8th.

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.