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

Nordea Investment Management AB boosted its holdings in NV5 Global, Inc. (NASDAQ:NVEE) by 313.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,546 shares of the business services provider’s stock after acquiring an additional 73,944 shares during the quarter. Nordea Investment Management AB owned 0.15% of NV5 Global worth $1,853,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVEE. Blue Trust Inc. boosted its holdings in shares of NV5 Global by 3,950.0% in the 3rd quarter. Blue Trust Inc. now owns 648 shares of the business services provider’s stock worth $60,000 after purchasing an additional 632 shares in the last quarter. Net Worth Advisory Group purchased a new position in shares of NV5 Global in the 3rd quarter worth about $211,000. Handelsbanken Fonder AB boosted its holdings in shares of NV5 Global by 21.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,800 shares of the business services provider’s stock worth $262,000 after purchasing an additional 500 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of NV5 Global in the 2nd quarter worth about $307,000. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of NV5 Global by 5.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 3,459 shares of the business services provider’s stock worth $322,000 after purchasing an additional 167 shares in the last quarter. 75.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NVEE has been the subject of several analyst reports. StockNews.com upgraded NV5 Global from a “hold” rating to a “buy” rating in a report on Thursday, December 26th. Robert W. Baird dropped their target price on NV5 Global from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, November 8th.

NV5 Global Trading Down 1.4 %

Shares of NVEE stock opened at $18.87 on Friday. The business has a 50-day moving average of $20.86 and a 200 day moving average of $22.60. The stock has a market capitalization of $1.23 billion, a PE ratio of 33.55, a P/E/G 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. NV5 Global, Inc. has a 1-year low of $18.36 and a 1-year high of $28.29.

NV5 Global declared that its board has approved a share repurchase plan on Monday, January 6th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the business services provider to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at NV5 Global

In other NV5 Global news, VP Richard Tong sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $20.08, for a total transaction of $401,600.00. Following the completion of the transaction, the vice president now owns 45,584 shares of the company’s stock, valued at $915,326.72. This represents a 30.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 12.40% of the stock is currently owned by corporate insiders.

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.