Allspring Global Investments Holdings LLC reduced its holdings in shares of NV5 Global, Inc. (NASDAQ:NVEE – Free Report) by 10.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,762 shares of the business services provider’s stock after selling 550 shares during the period. Allspring Global Investments Holdings LLC’s holdings in NV5 Global were worth $527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in shares of NV5 Global in the second quarter worth about $38,000. Cutler Group LLC CA purchased a new position in NV5 Global during the second quarter worth approximately $44,000. Tower Research Capital LLC TRC boosted its position in NV5 Global by 172.0% during the first quarter. Tower Research Capital LLC TRC now owns 476 shares of the business services provider’s stock worth $49,000 after purchasing an additional 301 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of NV5 Global in the first quarter valued at approximately $73,000. Finally, Ensign Peak Advisors Inc purchased a new position in shares of NV5 Global in the third quarter valued at approximately $113,000. 71.93% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, Director William D. Pruitt sold 3,000 shares of NV5 Global stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $92.38, for a total value of $277,140.00. Following the completion of the sale, the director now directly owns 15,500 shares of the company’s stock, valued at $1,431,890. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 12.40% of the stock is owned by insiders.
NV5 Global Price Performance
NV5 Global (NASDAQ:NVEE – Get Free Report) last posted its earnings results on Wednesday, August 9th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.02). The business had revenue of $222.64 million for the quarter, compared to analyst estimates of $220.00 million. NV5 Global had a return on equity of 10.34% and a net margin of 5.10%. As a group, research analysts anticipate that NV5 Global, Inc. will post 4.89 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on NVEE shares. William Blair started coverage on NV5 Global in a report on Wednesday, September 13th. They issued an “outperform” rating for the company. StockNews.com started coverage on NV5 Global in a report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Roth Mkm cut their price target on NV5 Global from $136.00 to $121.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $119.67.
NV5 Global Profile
NV5 Global, Inc offers professional and technical engineering and consulting solutions to public and private sector clients in the infrastructure, utility services, construction, real estate, and environmental markets in the United States and internationally. It operates through three segments: Infrastructure; Building, Technology & Sciences; and Geospatial Solutions.
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