Nordea Investment Management AB Buys 73,944 Shares of NV5 Global, Inc. (NASDAQ:NVEE)

Nordea Investment Management AB boosted its stake in shares of NV5 Global, Inc. (NASDAQ:NVEE) by 313.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,546 shares of the business services provider’s stock after buying an additional 73,944 shares during the period. Nordea Investment Management AB’s holdings in NV5 Global were worth $1,853,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in NV5 Global by 3,950.0% during the 3rd quarter. Blue Trust Inc. now owns 648 shares of the business services provider’s stock valued at $60,000 after buying an additional 632 shares in the last quarter. Net Worth Advisory Group purchased a new stake in NV5 Global during the 3rd quarter valued at $211,000. Handelsbanken Fonder AB boosted its stake in NV5 Global by 21.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,800 shares of the business services provider’s stock valued at $262,000 after purchasing an additional 500 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in NV5 Global during the 2nd quarter valued at $307,000. Finally, Commonwealth Equity Services LLC boosted its stake in NV5 Global by 5.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 3,459 shares of the business services provider’s stock valued at $322,000 after purchasing an additional 167 shares during the last quarter. Institutional investors own 75.54% of the company’s stock.

Insider Activity at NV5 Global

In other NV5 Global news, VP Richard Tong sold 20,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $20.08, for a total transaction of $401,600.00. Following the sale, the vice president now directly owns 45,584 shares of the company’s stock, valued at $915,326.72. This trade represents a 30.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.40% of the stock is owned by company insiders.

NV5 Global Stock Performance

NVEE stock opened at $18.87 on Friday. The company has a market cap of $1.23 billion, a P/E ratio of 33.55, a price-to-earnings-growth ratio of 3.21 and a beta of 1.22. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.05 and a quick ratio of 2.05. The stock’s fifty day moving average price is $20.86 and its 200-day moving average price is $22.60. NV5 Global, Inc. has a 1 year low of $18.36 and a 1 year high of $28.29.

NV5 Global announced that its board has approved a share buyback plan 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 purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have commented on NVEE. Robert W. Baird cut their target price on NV5 Global from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. StockNews.com upgraded NV5 Global from a “hold” rating to a “buy” rating in a research note on Thursday, December 26th.

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.