NV5 Global (NVEE) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of NV5 Global (NASDAQ:NVEE) from a hold rating to a buy rating in a research report sent to investors on Wednesday, Zacks.com reports. They currently have $82.00 price target on the business services provider’s stock.
According to Zacks, “NV5 Holding Inc. offers professional, technical consulting and certification solutions for public and private sector. The company focuses on business services which include construction quality assurance, infrastructure engineering, energy services, program management, and environmental services. It operates in California, Colorado, Utah, Florida and New Jersey. NV5 Holding Inc. is headquartered in Hollywood, Florida. “
Several other analysts also recently weighed in on NVEE. ValuEngine raised shares of NV5 Global from a hold rating to a buy rating in a research report on Thursday, January 24th. BidaskClub raised shares of NV5 Global from a hold rating to a buy rating in a research report on Wednesday, February 13th. Roth Capital dropped their target price on shares of NV5 Global from $97.00 to $90.00 and set a buy rating on the stock in a research report on Friday, March 8th. Singular Research reissued a buy rating on shares of NV5 Global in a research report on Wednesday, March 13th. Finally, Maxim Group reaffirmed a buy rating and issued a $85.00 price objective (down from $93.00) on shares of NV5 Global in a report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $90.57.
NV5 Global (NASDAQ:NVEE) last released its earnings results on Wednesday, May 8th. The business services provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.08. The company had revenue of $117.34 million for the quarter, compared to the consensus estimate of $114.72 million. NV5 Global had a net margin of 6.38% and a return on equity of 14.09%. As a group, analysts expect that NV5 Global will post 3.82 EPS for the current fiscal year.
In other news, COO Alexander A. Hockman sold 40,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $59.86, for a total value of $2,394,400.00. Following the sale, the chief operating officer now directly owns 214,916 shares of the company’s stock, valued at approximately $12,864,871.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William D. Pruitt acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was acquired at an average cost of $60.29 per share, for a total transaction of $120,580.00. Following the completion of the acquisition, the director now directly owns 8,641 shares in the company, valued at $520,965.89. The disclosure for this purchase can be found here. Insiders sold a total of 75,250 shares of company stock worth $4,846,890 over the last ninety days. Insiders own 19.62% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of NV5 Global by 1.5% in the 1st quarter. BlackRock Inc. now owns 682,476 shares of the business services provider’s stock valued at $40,513,000 after purchasing an additional 9,968 shares during the period. Lord Abbett & CO. LLC lifted its stake in shares of NV5 Global by 1.0% in the 4th quarter. Lord Abbett & CO. LLC now owns 551,692 shares of the business services provider’s stock valued at $33,405,000 after purchasing an additional 5,572 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of NV5 Global by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 526,559 shares of the business services provider’s stock valued at $31,256,000 after purchasing an additional 8,482 shares during the period. Wells Fargo & Company MN lifted its stake in shares of NV5 Global by 5.4% in the 1st quarter. Wells Fargo & Company MN now owns 467,352 shares of the business services provider’s stock valued at $27,743,000 after purchasing an additional 23,824 shares during the period. Finally, Vanguard Group Inc lifted its stake in shares of NV5 Global by 20.6% in the 3rd quarter. Vanguard Group Inc now owns 453,243 shares of the business services provider’s stock valued at $39,297,000 after purchasing an additional 77,550 shares during the period. 62.43% of the stock is currently owned by institutional investors and hedge funds.
About NV5 Global
NV5 Global, Inc provides professional and technical engineering and consulting services to public and private sector clients in the infrastructure, energy, construction, real estate, and environmental markets in the United States and internationally. It operates through two segments, Infrastructure; and Building, Technology & Sciences.
Further Reading: What is Put Option Volume?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for NV5 Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NV5 Global and related companies with MarketBeat.com's FREE daily email newsletter.