Empirical Financial Services LLC d.b.a. Empirical Wealth Management Invests $385,000 in NV5 Global, Inc. (NASDAQ:NVEE)

Key Points

• Empirical Wealth Management invested $385,000 in NV5 Global, Inc. by purchasing 20,000 shares in the first quarter, signaling significant institutional interest.
• NV5 Global reported Q1 earnings of $0.17 per share, missing analysts' estimates of $0.20, with a revenue of $123.20 million compared to expectations of $229.89 million.
• Several hedge funds have increased their positions in NV5 Global, with institutional investors now owning 75.54% of the company's stock.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in NV5 Global, Inc. (NASDAQ:NVEE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,000 shares of the business services provider's stock, valued at approximately $385,000.

A number of other hedge funds have also added to or reduced their stakes in NVEE. Heritage Family Offices LLP raised its holdings in NV5 Global by 6.8% in the 1st quarter. Heritage Family Offices LLP now owns 11,090 shares of the business services provider's stock valued at $214,000 after acquiring an additional 706 shares in the last quarter. Linden Thomas Advisory Services LLC raised its holdings in NV5 Global by 1.6% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 50,964 shares of the business services provider's stock valued at $982,000 after buying an additional 795 shares during the last quarter. BNP Paribas raised its position in NV5 Global by 300.0% during the 4th quarter. BNP Paribas now owns 1,400 shares of the business services provider's stock worth $26,000 after purchasing an additional 1,050 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of 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 purchasing an additional 1,203 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV lifted its stake in shares of NV5 Global by 3.3% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 43,471 shares of the business services provider's stock valued at $838,000 after purchasing an additional 1,392 shares during the period. Institutional investors own 75.54% of the company's stock.

NV5 Global Stock Performance

NVEE remained flat at $22.56 during midday trading on Thursday. The stock's fifty day moving average price is $22.76 and its two-hundred day moving average price is $19.87. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 45.58, a P/E/G ratio of 1.42 and a beta of 1.11. NV5 Global, Inc. has a 12-month low of $14.75 and a 12-month high of $25.96. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.86.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NVEE. Sidoti upgraded NV5 Global to a "hold" rating in a report on Friday, May 16th. Wall Street Zen cut NV5 Global from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. CJS Securities cut NV5 Global from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 10th. Maxim Group reaffirmed a "hold" rating on shares of NV5 Global in a report on Thursday, July 3rd. Finally, Lake Street Capital downgraded shares of NV5 Global from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, NV5 Global currently has a consensus rating of "Hold" and a consensus price target of $25.67.

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.