Bank of New York Mellon Corp Increases Stake in NV5 Global, Inc. (NASDAQ:NVEE)

Bank of New York Mellon Corp raised its stake in shares of NV5 Global, Inc. (NASDAQ:NVEE - Free Report) by 26.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,913,231 shares of the business services provider's stock after purchasing an additional 402,506 shares during the period. Bank of New York Mellon Corp owned 2.93% of NV5 Global worth $36,868,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Heritage Family Offices LLP lifted its holdings in NV5 Global by 6.8% during the first quarter. Heritage Family Offices LLP now owns 11,090 shares of the business services provider's stock valued at $214,000 after purchasing an additional 706 shares in the last quarter. BNP Paribas lifted its holdings 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 purchasing an additional 1,050 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in NV5 Global by 8.7% during the first 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 in the last quarter. Azzad Asset Management Inc. ADV lifted its holdings in NV5 Global by 3.3% during the first 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 in the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in NV5 Global by 3,320.5% during the fourth 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 in the last quarter. 75.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on NVEE. Maxim Group reissued a "hold" rating on shares of NV5 Global in a research note on Thursday, July 3rd. Lake Street Capital cut shares of NV5 Global from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. William Blair reiterated a "market perform" rating on shares of NV5 Global in a research report on Thursday, May 15th. Wall Street Zen cut shares of 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 report on Friday, May 16th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, NV5 Global currently has a consensus rating of "Hold" and a consensus target price of $25.67.

NV5 Global Stock Down 0.5%

Shares of NV5 Global stock traded down $0.12 during trading hours on Friday, hitting $22.95. The company had a trading volume of 236,166 shares, compared to its average volume of 538,065. The company's 50-day moving average is $22.40 and its two-hundred day moving average is $19.49. NV5 Global, Inc. has a twelve month low of $14.75 and a twelve month high of $26.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.86. The company has a market cap of $1.54 billion, a P/E ratio of 46.32, a price-to-earnings-growth ratio of 1.46 and a beta of 1.13.

NV5 Global (NASDAQ:NVEE - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The business services provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). NV5 Global had a net margin of 3.19% and a return on equity of 9.12%. The business had revenue of $123.20 million during the quarter, compared to analysts' expectations of $229.89 million. 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.