NV5 Global, Inc. Announces Four-for-One Stock Split to Enhance Liquidity and Accessibility
Hollywood, Florida - NV5 Global, Inc. (NASDAQ: NVEE) has made a strategic move by announcing a four-for-one stock split of its common stock. This decision, approved by NV5's Board of Directors, aims to increase accessibility to stock ownership for employees and improve liquidity in the public trading of NV5 stock.
The stock split is expected to raise the total number of outstanding common shares to about 65.1 million, facilitating stock ownership for current and future employees, especially those joining NV5 through acquisitions. Additionally, it is anticipated to attract new investors and provide existing shareholders with the opportunity to increase their holdings.
Dickerson Wright, PE, Executive Chairman at NV5, highlighted the significance of stock ownership in the company's strategy for talent recruitment, retention, and business expansion. The stock split reflects NV5's continuous growth and future expansion plans.
Shareholders as of the market close on October 9, 2024, will receive three additional shares for each share held after the market closes on October 10, 2024. Post-split trading of shares on the Nasdaq Global Select Market is expected to commence on October 11, 2024.
NV5, with over 100 offices nationwide and internationally, offers a wide range of services in construction quality assurance, infrastructure engineering, utility services, program management, environmental health sciences, and geospatial technology services.
The company's recent strong performance in the second quarter of 2024, with a backlog of $877 million and a revised full-year revenue guidance of $944 million to $950 million, indicates promising growth. Analysts foresee a potential revenue of $1.5 billion by 2028.
NV5's contract with the National Geospatial-Intelligence Agency worth $290 million and the acquisition of California Water Resources Group further solidify its position for future growth.
InvestingPro Insights:
As NV5 Global, Inc. (NASDAQ: NVEE) prepares for its stock split, investors are analyzing the company's financial health and market performance. NV5's strong operational efficiency and revenue growth suggest a positive outlook. While the company operates with a moderate level of debt, which could support growth plans, downward revisions in earnings expectations may raise concerns for investors.
NV5's current trading near its 52-week low presents an opportunity for long-term investors. With profitability predicted for this year and a high P/E ratio indicating potential earnings growth, NV5 remains an attractive investment option.
For more detailed insights and metrics on NV5, including analyst predictions and historical performance data, refer to InvestingPro Tips to make informed investment decisions.