Franklin Resources Inc. Takes Position in NV5 Global, Inc. (NASDAQ:NVEE)

Franklin Resources Inc. bought a new position in shares of NV5 Global, Inc. (NASDAQ:NVEE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,451 shares of the business services provider’s stock, valued at approximately $216,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of NV5 Global by 288.4% in the 4th quarter. Vanguard Group Inc. now owns 3,761,947 shares of the business services provider’s stock valued at $70,875,000 after acquiring an additional 2,793,280 shares in the last quarter. American Century Companies Inc. increased its position in shares of NV5 Global by 322.4% during the 4th quarter. American Century Companies Inc. now owns 2,147,358 shares of the business services provider’s stock worth $40,456,000 after purchasing an additional 1,639,014 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of NV5 Global by 1,572.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,510,725 shares of the business services provider’s stock valued at $28,462,000 after buying an additional 1,420,417 shares during the last quarter. Swedbank AB grew its stake in shares of NV5 Global by 366.4% in the fourth quarter. Swedbank AB now owns 1,632,296 shares of the business services provider’s stock valued at $30,752,000 after buying an additional 1,282,296 shares in the last quarter. Finally, Geneva Capital Management LLC increased its holdings in NV5 Global by 274.0% during the fourth quarter. Geneva Capital Management LLC now owns 1,618,475 shares of the business services provider’s stock worth $30,492,000 after buying an additional 1,185,754 shares during the last quarter. Institutional investors own 75.54% of the company’s stock.

Analyst Upgrades and Downgrades

NVEE has been the subject of a number of analyst reports. StockNews.com downgraded shares of NV5 Global from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Roth Mkm raised their price objective on NV5 Global from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Maxim Group decreased their target price on NV5 Global from $29.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, February 21st.

NV5 Global Stock Up 0.7 %

NV5 Global stock opened at $15.82 on Friday. NV5 Global, Inc. has a twelve month low of $15.14 and a twelve month high of $26.14. The stock has a market cap of $1.03 billion, a P/E ratio of 32.12, a P/E/G ratio of 2.63 and a beta of 1.07. The company’s 50-day moving average price is $17.76 and its two-hundred day moving average price is $19.76. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.30.

NV5 Global (NASDAQ:NVEE) last released its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02). NV5 Global had a return on equity of 9.34% and a net margin of 3.25%. The firm had revenue of $246.52 million for the quarter, compared to analyst estimates of $243.46 million. As a group, analysts expect that NV5 Global, Inc. will post 1.26 EPS for the current year.

NV5 Global announced that its board has authorized a share repurchase plan on Monday, January 6th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the business services provider to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

NV5 Global 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.