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HOLLYWOOD, Fla. – NV5 Global, Inc. (NASDAQ: NVEE), a provider of professional and technical engineering and consulting solutions, has been awarded an $18 million contract by the California Department of Transportation (Caltrans). His three-year contract will see NV5 provide construction management services for transportation projects within Caltrans District 9.
Services that NV5 will provide under the contract include construction inspection, office engineering, claims resolution and constructability support services. These are risk-free services. This means that NV5 is not financially responsible for cost overruns on projects it manages.
NV5 Executive Chairman Dickerson Wright, PE, emphasized the importance of the contract as part of the company's national transportation growth initiative. Mr. Wright expressed the company's commitment to driving organic growth in the infrastructure sector and providing solutions that strengthen community infrastructure.
Todd George, PE, NV5's Chief Operating Officer for Infrastructure West, reiterated the company's pride in its long-standing relationship with Caltrans and its continued support of projects in the District. NV5 has a history of serving Caltrans, which helped strengthen this ongoing partnership.
The company has more than 100 offices domestically and internationally and specializes in six verticals: Utility Services, Infrastructure Engineering, Construction Quality Assurance, Buildings and Technology, Environmental Health Sciences, and Geospatial Services.
This announcement is based on a press release statement from NV5 Global, Inc.
Investment Pro Insights
NV5 Global, Inc. (NVEE) recently signed a significant agreement with Caltrans. This is expected to further strengthen the company's growth in the infrastructure sector. InvestingPro's data and tips provide additional insight into the company's financial health and market performance that may be of interest to investors following this news.
investment professional data NV5 has a market capitalization of $1.62 billion and trades at a price-to-earnings ratio (P/E) of 34.38, implying an adjusted P/E ratio of 38.96 for the trailing twelve months as of Q4 2023 . The company has shown solid revenue growth of 9.53% over the past 12 months, with gross margins reaching nearly 50%. These metrics suggest that NV5 remains profitable and efficient in its operations.
investment pro tips NV5 operates with moderate debt and has liquid assets in excess of short-term debt, highlighting its stable financial position. Moreover, analysts predict that the company will continue to post profits this year, which is in line with its performance over the past decade. However, it's important to note that five analysts have revised down next-year earnings, and the company trades at a high earnings multiple, which could raise concerns about valuation.
For investors interested in deeper analysis, 9 additional InvestingPro Tips on NV5 are available at https://www.investing.com/pro/NVEE. These tips can provide valuable insight into a company's long-term potential and current market position.
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