Principal Financial Group Inc. Lowers Holdings in NV5 Global, Inc. (NASDAQ:NVEE)

Principal Financial Group Inc. reduced its stake in shares of NV5 Global, Inc. (NASDAQ:NVEE) by 3.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 61,543 shares of the business services provider’s stock after selling 2,406 shares during the period. Principal Financial Group Inc.’s holdings in NV5 Global were worth $5,753,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in NV5 Global by 7.2% during the second quarter. Dimensional Fund Advisors LP now owns 582,927 shares of the business services provider’s stock valued at $54,195,000 after acquiring an additional 39,350 shares in the last quarter. American Century Companies Inc. grew its position in shares of NV5 Global by 16.6% during the second quarter. American Century Companies Inc. now owns 456,722 shares of the business services provider’s stock valued at $42,461,000 after purchasing an additional 65,186 shares in the last quarter. Geneva Capital Management LLC increased its holdings in shares of NV5 Global by 1.3% in the third quarter. Geneva Capital Management LLC now owns 432,721 shares of the business services provider’s stock worth $40,451,000 after purchasing an additional 5,757 shares during the last quarter. Swedbank AB lifted its position in shares of NV5 Global by 27.3% in the third quarter. Swedbank AB now owns 350,000 shares of the business services provider’s stock worth $32,718,000 after buying an additional 75,000 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in NV5 Global by 1.6% during the third quarter. Geode Capital Management LLC now owns 327,042 shares of the business services provider’s stock valued at $30,577,000 after buying an additional 5,035 shares during the last quarter. Institutional investors own 75.54% of the company’s stock.

NV5 Global Stock Performance

NVEE opened at $18.84 on Thursday. The stock has a 50-day moving average of $21.40 and a 200 day moving average of $22.80. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.30. NV5 Global, Inc. has a 12 month low of $18.54 and a 12 month high of $28.29. The firm has a market cap of $1.23 billion, a P/E ratio of 33.49, a P/E/G ratio of 3.21 and a beta of 1.19.

Insider Activity

In other news, VP Richard Tong sold 20,000 shares of the stock in a transaction on 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 owns 45,584 shares of the company’s stock, valued at approximately $915,326.72. This represents a 30.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 12.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NVEE. Robert W. Baird decreased their price objective on NV5 Global from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. StockNews.com upgraded shares of NV5 Global from a “hold” rating to a “buy” rating in a research report on Thursday, December 26th.

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.