Illinois Municipal Retirement Fund Raises Stake in NV5 Global, Inc. (NASDAQ:NVEE)

Illinois Municipal Retirement Fund grew its holdings in NV5 Global, Inc. (NASDAQ:NVEE) by 310.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 29,511 shares of the business services provider’s stock after buying an additional 22,326 shares during the period. Illinois Municipal Retirement Fund’s holdings in NV5 Global were worth $556,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Blue Trust Inc. raised its stake in NV5 Global by 287.7% during the 4th quarter. Blue Trust Inc. now owns 2,512 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 1,864 shares during the last quarter. Versor Investments LP increased its holdings 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 purchasing an additional 806 shares during the period. KBC Group NV raised its stake 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 worth $80,000 after purchasing an additional 3,550 shares during the last quarter. MQS Management LLC acquired a new stake in shares of NV5 Global during the third quarter worth $415,000. Finally, Intech Investment Management LLC acquired a new position in NV5 Global in the 3rd quarter valued at $488,000. Institutional investors and hedge funds own 75.54% of the company’s stock.

Insider Buying and Selling at NV5 Global

In related news, VP Richard Tong sold 20,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $20.08, for a total value of $401,600.00. Following the sale, the vice president now directly owns 45,584 shares in the company, valued at $915,326.72. The trade was a 30.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on NVEE shares. Roth Mkm raised their target price on shares of NV5 Global from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Maxim Group reduced their price objective on shares of NV5 Global from $29.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Robert W. Baird dropped their target price on NV5 Global from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Finally, StockNews.com cut NV5 Global from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th.

NV5 Global Stock Up 1.2 %

NVEE stock opened at $17.59 on Wednesday. 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 company’s 50-day moving average price is $18.31 and its 200 day moving average price is $21.02. NV5 Global, Inc. has a 52 week low of $16.77 and a 52 week high of $26.14. The company has a market cap of $1.15 billion, a P/E ratio of 35.72, a P/E/G ratio of 2.63 and a beta of 1.23.

NV5 Global (NASDAQ:NVEE) last posted its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The company had revenue of $246.52 million for the quarter, compared to analyst estimates of $243.46 million. NV5 Global had a net margin of 3.25% and a return on equity of 9.34%. On average, research analysts expect 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 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 a sign that the company’s board of directors believes its shares are undervalued.

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.