PNC Financial Services Group Inc. Increases Stock Holdings in NV5 Global, Inc. (NASDAQ:NVEE)

PNC Financial Services Group Inc. boosted its holdings in NV5 Global, Inc. (NASDAQ:NVEE) by 359.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,134 shares of the business services provider’s stock after purchasing an additional 4,799 shares during the quarter. PNC Financial Services Group Inc.’s holdings in NV5 Global were worth $116,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Swedbank AB increased its stake in shares of NV5 Global by 366.4% during the 4th quarter. Swedbank AB now owns 1,632,296 shares of the business services provider’s stock valued at $30,752,000 after acquiring an additional 1,282,296 shares during the last quarter. Geneva Capital Management LLC boosted its position in shares of NV5 Global by 274.0% in the fourth quarter. Geneva Capital Management LLC now owns 1,618,475 shares of the business services provider’s stock worth $30,492,000 after acquiring an additional 1,185,754 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in NV5 Global by 1,572.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,510,725 shares of the business services provider’s stock valued at $28,462,000 after purchasing an additional 1,420,417 shares during the period. Tributary Capital Management LLC increased its position in NV5 Global by 397.1% during the fourth quarter. Tributary Capital Management LLC now owns 945,709 shares of the business services provider’s stock worth $17,817,000 after purchasing an additional 755,467 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in NV5 Global by 325.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 686,061 shares of the business services provider’s stock worth $12,925,000 after purchasing an additional 524,937 shares during the period. 75.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Roth Mkm boosted their price objective on shares of NV5 Global from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, February 21st. StockNews.com cut NV5 Global from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Maxim Group dropped their price target on NV5 Global from $29.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, February 21st.

NV5 Global Price Performance

NV5 Global stock opened at $19.37 on Tuesday. The firm has a fifty day moving average of $18.15 and a 200-day moving average of $20.48. NV5 Global, Inc. has a 52-week low of $16.77 and a 52-week high of $26.14. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $1.26 billion, a P/E ratio of 39.33, a PEG ratio of 2.63 and a beta of 1.22.

NV5 Global (NASDAQ:NVEE) last announced its 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 during the quarter, compared to analysts’ expectations of $243.46 million. As a group, analysts predict that NV5 Global, Inc. will post 1.26 EPS for the current year.

NV5 Global announced that its board has initiated 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 repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.