NV5 awarded a $4 million contract for geospatial hydrographic data along 20% of New Zealand's coastline.
Quiver AI Summary
NV5 has secured a $4 million contract from Toitū Te Whenua Land Information New Zealand (LINZ) to conduct geospatial hydrographic data collection for around 20% of New Zealand’s coastline. This contract represents the largest awarded under NV5’s international geospatial growth initiative, highlighting the company's push into global markets for geospatial data analytics. The project will employ topobathymetric lidar and 4-band imagery to create detailed 3D maps covering 4,780 square kilometers of the coastline and sea floor, aimed at bolstering baseline data to understand coastal impacts from sea-level rise and natural hazards. NV5's CEO emphasized the high demand for the company's geospatial analytics and their ongoing expansion into international markets, while their President noted the growing interest from global clients in NV5's expertise and technologies.
Potential Positives
- NV5 has been awarded a significant $4 million contract, marking the largest contract in its international geospatial growth initiative.
- This contract supports the expansion of NV5 into global markets, showcasing its capabilities in geospatial data analytics.
- The project will utilize advanced technology, including topobathymetric lidar and 4-band imagery, to produce detailed 3D maps, enhancing NV5's reputation in the industry.
- NV5's focus on international expansion has already resulted in successful engagements with clients across Europe, Asia, Latin America, and the Caribbean, demonstrating its growing global footprint.
Potential Negatives
- The press release contains various forward-looking statements that carry inherent risks, indicating uncertainty in achieving projected outcomes and potential impacts on the company's growth and profitability.
- The company highlights competitive pressures and trends in its industry, suggesting challenges in maintaining market position and client demand amidst an evolving landscape.
- There is a mention of general economic conditions that could affect market demand for NV5's services, raising concerns about revenue stability in changing economic climates.
FAQ
What is the value of NV5's new contract in New Zealand?
NV5 has been awarded a contract worth $4 million to provide geospatial hydrographic data for New Zealand's coastline.
What technology will NV5 use for the project?
NV5 will utilize specialized topobathymetric lidar and 4-band imagery to create detailed 3D maps of the coastline and sea floor.
What is the purpose of the 3D Coastal Mapping program?
The program aims to improve baseline data to understand the impact of sea-level rise and natural hazards on coastal areas.
How does this project relate to NV5's domestic services?
The project's scope is similar to geospatial analyses that NV5 provides for U.S. Federal and state governments concerning coastal resilience.
What is NV5's international geospatial growth initiative?
The initiative focuses on expanding NV5's geospatial services worldwide, replicating successful analyses previously conducted in the U.S.
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 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 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
- TARDAN FRANCOIS sold 1,661 shares for an estimated $159,990
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$NVEE Hedge Fund Activity
We have seen 89 institutional investors add shares of $NVEE stock to their portfolio, and 113 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CERCANO MANAGEMENT LLC removed 3,813,582 shares (-75.0%) from their portfolio in Q3 2024, for an estimated $89,123,411
- T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 1,662,780 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $38,859,168
- VOYA INVESTMENT MANAGEMENT LLC removed 550,423 shares (-69.4%) from their portfolio in Q3 2024, for an estimated $12,863,385
- REDWOOD GROVE CAPITAL, LLC added 539,108 shares (+inf%) to their portfolio in Q3 2024, for an estimated $12,598,953
- CHARLES SCHWAB INVESTMENT MANAGEMENT INC removed 458,620 shares (-74.0%) from their portfolio in Q3 2024, for an estimated $10,717,949
- NINE TEN CAPITAL MANAGEMENT LLC removed 387,389 shares (-68.7%) from their portfolio in Q3 2024, for an estimated $9,053,280
- SUMMIT CREEK ADVISORS LLC removed 383,272 shares (-76.4%) from their portfolio in Q3 2024, for an estimated $8,957,066
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Full Release
HOLLYWOOD, Fla., Jan. 24, 2025 (GLOBE NEWSWIRE) -- NV5, a provider of technology, certification, and consulting solutions, announced today that it has been awarded a $4 million contract to provide geospatial hydrographic data for approximately 20% of New Zealand’s coastline by Toitū Te Whenua Land Information New Zealand (LINZ), the public service department of New Zealand specializing in geographic information. This is the largest contract awarded for NV5’s international geospatial growth initiative and demonstrates the acceleration of NV5’s expansion into global markets for geospatial data analytics.
NV5 will utilize specialized topobathymetric lidar and 4-band imagery to support the creation of detailed 3D maps of 4,780 square kilometers of the coast and adjacent sea floor. The 3D Coastal Mapping program aims to improve baseline data to better understand impact on coastal areas due to sea-level rise and natural hazards, such as tsunami and earthquakes. The project scope is similar to recurring geospatial analyses that NV5 provides for the United States Federal Government and state governments to assess coastal resilience, infrastructure impacts, and modifications to nautical mapping resulting from sea level rise and weather events.
“As the leader in geospatial data analytics, NV5’s proprietary algorithms, analytical capabilities, and intellectual property are in high demand domestically and internationally. Our international geospatial growth initiative is driving international expansion through replication of analyses that we have provided domestically for many years. This initiative has already assisted clients in Europe, Asia, Latin America, the Caribbean, and Asia Pacific, and we continue to accelerate our organic growth in international geospatial services,” said Ben Heraud, CEO of NV5.
“NV5’s investments in geospatial data sharing, mining, and processing allows us to serve clients anywhere in the world, providing access to our industry-leading geospatial data engineers and data scientists throughout the U.S. and India,” said Kurt Allen, PLS, President of NV5 Geospatial. “International clients have welcomed the opportunity to work with our geospatial professionals and technologies, and we look forward to continuing our international geospatial expansion into new geographies.”
About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, certification, and consulting solutions for public and private sector clients supporting utility, infrastructure, and building assets and systems. The Company primarily focuses on six business verticals: Utility services, infrastructure engineering, conformity assessment, buildings & technology, environmental services, and geospatial services. NV5 operates out of more than 100 offices nationwide and abroad. For additional information, please visit the Company’s website at
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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
Vice President, Marketing & Investor Relations
Tel: +1-954-637-8048
Email:
[email protected]
Source: NV5 Global, Inc.