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

NV5 Global (NASDAQ:NVEE) declared that its Board of Directors has authorized a share repurchase program on Monday, January 6th, RTT News reports. The company plans to buyback $20.00 million in outstanding shares. This buyback authorization permits the business services provider to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

NV5 Global Stock Performance

NASDAQ NVEE opened at $18.50 on Wednesday. The company has a market capitalization of $1.20 billion, a PE ratio of 32.89, a price-to-earnings-growth ratio of 3.21 and a beta of 1.22. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.05 and a current ratio of 2.05. NV5 Global has a 52-week low of $18.42 and a 52-week high of $28.29. The company has a 50-day simple moving average of $21.19 and a 200 day simple moving average of $22.71.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other NV5 Global news, VP Richard Tong sold 20,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $20.08, for a total value of $401,600.00. Following the sale, the vice president now owns 45,584 shares of the company’s stock, valued at $915,326.72. This trade represents a 30.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company 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.