Millennium Management LLC Increases Position in NV5 Global, Inc. (NASDAQ:NVEE)

Millennium Management LLC raised its position in shares of NV5 Global, Inc. (NASDAQ:NVEE - Free Report) by 351.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 325,778 shares of the business services provider's stock after buying an additional 253,543 shares during the quarter. Millennium Management LLC owned about 0.50% of NV5 Global worth $6,138,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NVEE. BNP Paribas lifted its position in NV5 Global by 300.0% during the fourth quarter. BNP Paribas now owns 1,400 shares of the business services provider's stock valued at $26,000 after acquiring an additional 1,050 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of NV5 Global by 3,320.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,505 shares of the business services provider's stock valued at $28,000 after purchasing an additional 1,461 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of NV5 Global by 287.7% during the 4th quarter. Blue Trust Inc. now owns 2,512 shares of the business services provider's stock valued at $47,000 after purchasing an additional 1,864 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in shares of NV5 Global by 296.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,584 shares of the business services provider's stock worth $68,000 after purchasing an additional 2,680 shares in the last quarter. Finally, KBC Group NV increased its position in NV5 Global by 527.5% during the 4th quarter. KBC Group NV now owns 4,223 shares of the business services provider's stock valued at $80,000 after buying an additional 3,550 shares in the last quarter. 75.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NVEE. Maxim Group dropped their price target on NV5 Global from $29.00 to $24.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Sidoti upgraded shares of NV5 Global to a "hold" rating in a research note on Friday, May 16th. Wall Street Zen downgraded shares of NV5 Global from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. William Blair reissued a "market perform" rating on shares of NV5 Global in a research report on Thursday, May 15th. Finally, Lake Street Capital cut NV5 Global from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $25.67.

NV5 Global Stock Performance

Shares of NVEE stock traded down $0.10 during trading hours on Friday, hitting $22.17. The company's stock had a trading volume of 538,640 shares, compared to its average volume of 466,697. NV5 Global, Inc. has a 12-month low of $14.75 and a 12-month high of $26.14. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.46 billion, a PE ratio of 45.02, a price-to-earnings-growth ratio of 2.63 and a beta of 1.08. The company has a 50 day moving average of $18.67 and a 200 day moving average of $19.01.

NV5 Global (NASDAQ:NVEE - Get Free Report) last issued its quarterly earnings data 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). NV5 Global had a net margin of 3.25% and a return on equity of 9.34%. The company had revenue of $123.20 million during the quarter, compared to analyst estimates of $229.89 million. On average, sell-side analysts forecast that NV5 Global, Inc. will post 1.26 EPS for the current fiscal year.

NV5 Global Company 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.