NV5 Global (NASDAQ:NVEE) to Repurchase $20.00 million in Stock

NV5 Global (NASDAQ:NVEE) announced that its board has authorized a share buyback program on Monday, January 6th, RTT News reports. The company plans to repurchase $20.00 million in shares. This repurchase authorization permits the business services provider to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

NV5 Global Stock Down 0.1 %

NASDAQ NVEE opened at $18.76 on Tuesday. NV5 Global has a 1 year low of $18.43 and a 1 year high of $28.29. The stock has a market capitalization of $1.22 billion, a PE ratio of 33.35, a PEG 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 business’s 50-day moving average is $21.27 and its 200 day moving average is $22.74.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NVEE shares. Robert W. Baird lowered their price objective on shares of NV5 Global from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, November 8th. StockNews.com raised NV5 Global from a “hold” rating to a “buy” rating in a research note on Thursday, December 26th.

Insider Transactions at NV5 Global

In other NV5 Global news, VP Richard Tong sold 20,000 shares of the company’s 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 completion of the transaction, the vice president now directly owns 45,584 shares in the company, valued at approximately $915,326.72. This represents a 30.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.40% of the company’s stock.

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.