NV5 GLOBAL Secures $17 Million in NJ Utilities Contracts

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NV5 GLOBAL ($NASDAQ:NVEE), a leading professional and technical engineering and consulting services firm, has recently secured contracts worth $17 Million from New Jersey Utilities. The contracts encompass a wide range of engineering, environmental services and construction management services, as well as energy efficiency services. NV5 GLOBAL is a publicly traded company that provides risk management and quality assurance services to public and private sector clients. The company’s core services include building, energy, infrastructure, and environmental services. The company provides services to clients in the United States, Mexico, India and China, as well as other countries around the world.

The recent contracts awarded in New Jersey are an important step for NV5 GLOBAL in its goal of expanding its presence in the Northeast region of the United States. NV5 has been successful in securing important projects in this region over the past year, and the recent contracts will help to cement this presence. With the new contracts, NV5 GLOBAL is well-positioned to continue providing high-quality engineering, environmental and energy efficiency services to the clients in New Jersey.

Market Price

On Tuesday, NV5 GLOBAL, a global provider of professional and technical engineering and consulting solutions, announced that it has secured $17 million in utility contracts from the New Jersey Board of Public Utilities. This news sent their stock up in early trading, opening at $98.5 but closing at the same price, down 0.6% from the previous day’s closing of 99.1. The contracts awarded to NV5 GLOBAL include comprehensive engineering services for gas and electric utility projects including system planning, design, construction management, and operation and maintenance. These services are set to enhance the reliability and safety of the New Jersey energy system while continuing to uphold the highest standards of service.

NV5 GLOBAL has established itself as a leader in the engineering, energy, and environmental services industry and is committed to continuing to provide advanced solutions to its partners. This latest contract from New Jersey further demonstrates NV5 GLOBAL’s commitment to providing excellence in engineering and consulting services. Live Quote…

About the Company

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Analysis

GoodWhale has conducted an analysis of NV5 GLOBAL‘s fundamentals to determine the company’s financial health. The results of the analysis, as seen on the Star Chart, indicate that NV5 GLOBAL is strong in growth and profitability, and medium in asset strength. The company is also weak in terms of dividend payments. Based on this analysis, NV5 GLOBAL has been classified as a ‘rhino’; a type of company we conclude that has achieved moderate revenue or earnings growth. Given this assessment, investors who are looking for companies with moderate growth and potential for returns are likely to be interested in NV5 GLOBAL. Furthermore, the company has an impressive health score of 8/10 with regard to its cashflows and debt, which suggests it is capable of safely riding out any economic crisis without the risk of bankruptcy. More…

Peers

The company operates in more than 100 locations across the United States and internationally. NV5’s competitors include Willdan Group Inc, Atlas Technical Consultants Inc, Guizhou Transportation Planning Survey & Design Academe Co Ltd, and other engineering and consulting firms.

– Willdan Group Inc ($NASDAQ:WLDN)

Willdan Group Inc is a provider of professional technical and consulting services to utilities, businesses, and government agencies. The company has a market cap of 172.27M as of 2022 and a Return on Equity of -2.66%. Willdan Group Inc provides services in the areas of energy efficiency, engineering, program management, and operations and maintenance. The company’s services help customers reduce costs, improve productivity, and comply with regulations.

– Atlas Technical Consultants Inc ($NASDAQ:ATCX)

Atlas Technical Consultants Inc is a engineering firm that provides professional consulting services in the areas of water resources, transportation, environmental, and land development. The company has a market cap of 273.22M as of 2022 and a ROE of -16.48%.

– Guizhou Transportation Planning Survey & Design Academe Co Ltd ($SHSE:603458)

Guizhou Transportation Planning Survey & Design Academe Co Ltd is a transportation planning and design company. It is headquartered in Guiyang, Guizhou Province, China. The company provides planning, design, consulting, and construction supervision services for transportation projects. It also offers training services.

Summary

NV5 Global Inc. (NVEE) recently announced that it was awarded multiple contracts from New Jersey utilities, totaling $17 million. This is a positive sign for investors, as the company continues to expand its services in the East Coast area. With these new contracts, NV5 Global will provide engineering design and construction management services for gas and electric projects. This is a strong indication that the company is continuing to execute its strategic plan of providing services to a larger client base.

The contracts awarded should contribute to the company’s revenue growth and long-term profitability. Overall, the news is a positive for investors as it demonstrates NV5 Global’s strength in the engineering and construction services industries.