NV5 received a $250 million NOAA contract for shoreline mapping to enhance national geospatial initiatives and coastal applications.
Quiver AI Summary
NV5, a technology-driven engineering and consulting firm, has been awarded a five-year contract from the National Oceanic and Atmospheric Administration (NOAA) valued up to $250 million to provide shoreline mapping services for the National Geodetic Survey. This contract builds on NV5's decade of experience in supporting NOAA’s geospatial initiatives and will utilize advanced data collection methods, including ground, aerial, and satellite platforms, to enhance NOAA's Coastal Mapping Program. These efforts aim to improve nautical charts and other coastal applications, which are critical for national emergency responses like hurricane recovery. The contract underscores NV5's position in the geospatial sector and its ability to deliver innovative solutions amidst federal funding challenges.
Potential Positives
- NV5 has been awarded a prestigious five-year contract valued at up to $250 million by NOAA, enhancing its credibility and positioning in the geospatial sector.
- The contract focuses on shoreline mapping services, which are critical for NOAA's Coastal Mapping Program, indicating the significance and relevance of NV5’s offerings in supporting government initiatives.
- This achievement underscores NV5’s established expertise and operational capabilities, further reinforcing its leadership role in national geospatial data programs and its commitment to environmental sustainability.
- The contract helps insulate NV5 from recent federal funding cuts, highlighting the stability and resilience of its business model in a challenging economic landscape.
Potential Negatives
- The press release contains a caution regarding "forward-looking statements," indicating potential uncertainties and risks that could affect the company's performance and projections.
- There is a mention of competitive pressures and trends in the industry, suggesting that NV5 may face challenges in maintaining its market position.
- The acknowledgment of "changes in demand from local and state government and private clients" raises concerns about potential fluctuations in revenue and service demand.
FAQ
What contract has NV5 been awarded by NOAA?
NV5 has been awarded a five-year, multiple award contract valued at up to $250 million for shoreline mapping services.
How will NV5 support NOAA's Coastal Mapping Program?
NV5 will collect and analyze high-precision geospatial data to enhance nautical charts and coastal applications.
What is the significance of NV5's geospatial services?
The services support national emergency response, including hurricane recovery, and address critical geospatial data needs.
How does this contract impact NV5's position in the industry?
This award reinforces NV5's leadership in national geospatial data programs, insulating it from recent federal funding cuts.
Where can I find more information about NV5 Global, Inc.?
Visit NV5's website at www.NV5.com or find them on social media platforms like X, LinkedIn, and Facebook.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$NVEE Insider Trading Activity
$NVEE insiders have traded $NVEE stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $NVEE stock by insiders over the last 6 months:
- RICHARD TONG (Exec VP and General Counsel) sold 20,000 shares for an estimated $401,670
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$NVEE Hedge Fund Activity
We have seen 125 institutional investors add shares of $NVEE stock to their portfolio, and 97 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- EMERALD ADVISERS, LLC removed 702,679 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $13,540,624
- BLACKROCK, INC. added 635,564 shares (+6.7%) to their portfolio in Q1 2025, for an estimated $12,247,318
- SUSQUEHANNA INTERNATIONAL GROUP, LLP added 517,740 shares (+1325.2%) to their portfolio in Q1 2025, for an estimated $9,976,849
- BANK OF NEW YORK MELLON CORP added 402,506 shares (+26.6%) to their portfolio in Q1 2025, for an estimated $7,756,290
- EMERALD MUTUAL FUND ADVISERS TRUST removed 383,146 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $7,383,223
- AMERICAN CENTURY COMPANIES INC added 307,169 shares (+14.3%) to their portfolio in Q1 2025, for an estimated $5,919,146
- WELLINGTON MANAGEMENT GROUP LLP added 260,422 shares (+inf%) to their portfolio in Q1 2025, for an estimated $5,018,331
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Full Release
HOLLYWOOD, Fla., June 05, 2025 (GLOBE NEWSWIRE) -- NV5, a provider of tech-enabled engineering, certification, and consulting solutions, announced today that it has been selected by the National Oceanic and Atmospheric Administration (NOAA) for a five-year, multiple award contract valued at up to $250 million to provide shoreline mapping services in support of the National Geodetic Survey (NGS).
“Building on over a decade of experience supporting NOAA’s geospatial initiatives, NV5 is uniquely positioned to meet the technical and operational demands of this contract,” said Kurt Allen, President of NV5 Geospatial.
NV5’s comprehensive geospatial services will support NOAA’s Coastal Mapping Program to enhance the development and maintenance of nautical charts and other essential coastal applications. NV5 will collect and analyze high-precision geospatial data using ground, aerial, and satellite platforms to ensure accurate coverage of oceanic, arctic, lake, and riverine systems and support national emergency response such as hurricane recovery.
“The mandated nature of NV5’s services and our proven technical expertise and operational scale differentiate NV5 in the geospatial sector and insulate us from the recent federal funding cuts,” added Ben Heraud, CEO of NV5. “This award reinforces our leadership in national geospatial data programs and our role in delivering innovative solutions to support infrastructure, navigation, and environmental sustainability.”
About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a leading provider of tech-enabled engineering, testing, inspection, and consulting solutions for the built environment. The Company specializes in engineering design, asset management, and geospatial data analytics to support infrastructure resilience and building systems performance throughout the entire asset lifecycle. NV5 operates out of more than 100 offices nationwide and abroad. For additional information, please visit the Company’s website at www.NV5.com. Also visit the Company on X, LinkedIn, and Facebook.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this news release. Such factors include: (a) changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations, or policies; and (e) the “Risk Factors” set forth in the Company’s most recent SEC filings. All forward-looking statements are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such statements, except as required by law.
Investor Relations Contact
NV5 Global, Inc.
Jack Cochran
Executive Vice President, Strategic Growth & Investor Relations
Tel: +1-954-637-8048
Email:
[email protected]
Source: NV5 Global, Inc.
