Principal Financial Group Inc. Buys 6,617 Shares of NV5 Global, Inc. (NASDAQ:NVEE)

Principal Financial Group Inc. lifted its position in shares of NV5 Global, Inc. (NASDAQ:NVEE) by 2.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 259,732 shares of the business services provider’s stock after buying an additional 6,617 shares during the quarter. Principal Financial Group Inc. owned approximately 0.40% of NV5 Global worth $5,005,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Swiss National Bank grew its stake in NV5 Global by 306.0% during the fourth quarter. Swiss National Bank now owns 115,300 shares of the business services provider’s stock valued at $2,172,000 after acquiring an additional 86,900 shares in the last quarter. GAMMA Investing LLC raised its position in NV5 Global by 9,916.7% in the 1st quarter. GAMMA Investing LLC now owns 3,005 shares of the business services provider’s stock worth $58,000 after purchasing an additional 2,975 shares during the period. Janney Montgomery Scott LLC grew its position in NV5 Global by 8.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 14,953 shares of the business services provider’s stock valued at $288,000 after acquiring an additional 1,203 shares during the last quarter. SG Americas Securities LLC grew its stake in NV5 Global by 95.5% in the 1st quarter. SG Americas Securities LLC now owns 24,365 shares of the business services provider’s stock worth $470,000 after acquiring an additional 11,899 shares in the last quarter. Finally, Amundi increased its stake in shares of NV5 Global by 998.0% during the fourth quarter. Amundi now owns 25,178 shares of the business services provider’s stock valued at $482,000 after buying an additional 22,885 shares during the period. Institutional investors own 75.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Lake Street Capital lowered NV5 Global from a “buy” rating to a “hold” rating in a report on Thursday, May 15th. Maxim Group reaffirmed a “hold” rating on shares of NV5 Global in a research note on Thursday, July 3rd. William Blair reissued a “market perform” rating on shares of NV5 Global in a report on Thursday, May 15th. Wall Street Zen cut NV5 Global from a “buy” rating to a “hold” rating in a report on Wednesday, May 14th. Finally, Sidoti upgraded shares of NV5 Global to a “hold” rating in a research note on Friday, May 16th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $25.67.

NV5 Global Trading Up 0.3%

NASDAQ NVEE opened at $23.06 on Friday. NV5 Global, Inc. has a 1-year low of $14.75 and a 1-year high of $26.14. The firm’s fifty day simple moving average is $22.40 and its 200-day simple moving average is $19.49. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.55 billion, a PE ratio of 46.59, a price-to-earnings-growth ratio of 1.46 and a beta of 1.13.

NV5 Global (NASDAQ:NVEE) last issued its quarterly earnings results on Thursday, May 1st. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.03). The firm had revenue of $123.20 million for the quarter, compared to the consensus estimate of $229.89 million. NV5 Global had a net margin of 3.19% and a return on equity of 9.12%. As a group, sell-side analysts anticipate that NV5 Global, Inc. will post 1.26 earnings per share for the current fiscal year.

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.