NV5 received a $5 million contract from GDOT for the Watkinsville Bypass project in Georgia.
Quiver AI Summary
NV5 has secured a $5 million, five-year contract from the Georgia Department of Transportation to manage the Watkinsville Bypass project in Oconee County, Georgia, which aims to enhance traffic flow by rerouting trucks away from downtown Watkinsville. The project will involve a comprehensive array of services, including geomatics, environmental studies, roadway and bridge design, and more. NV5's CEO of Infrastructure expressed the company's commitment to providing innovative solutions and collaborating closely with GDOT on this initiative. The bypass project follows a transportation study from 2021 and is expected to contribute to regional development and improved transportation efficiency.
Potential Positives
- NV5 has been awarded a $5 million, five-year contract by the Georgia Department of Transportation, showcasing its credibility and capability in managing large infrastructure projects.
- The company will be providing a comprehensive range of services for the Watkinsville Bypass project, highlighting its diverse expertise in multiple technical areas.
- The project is expected to improve connectivity and traffic flow, indicating NV5's role in enhancing regional development and transportation efficiency.
- This contract reinforces NV5's reputation in the infrastructure sector, supporting its growth strategy through effective cross-selling of its services.
Potential Negatives
- The mention of "forward-looking statements" indicates uncertainty about future performance, which may raise concerns among investors regarding the company's ability to meet projected outcomes.
- The press release outlines several potential risks that could affect the company's performance, highlighting vulnerabilities in demand and competition that might not instill confidence among stakeholders.
- The focus on a single contract with the Georgia Department of Transportation could suggest over-reliance on government projects for revenue, potentially exposing the company to risks associated with fluctuations in public sector work.
FAQ
What is the Watkinsville Bypass project?
The Watkinsville Bypass project will connect SR 24 and SR 15 in Oconee County, improving traffic flow and connectivity.
Who awarded the contract for the Watkinsville Bypass?
The Georgia Department of Transportation (GDOT) awarded NV5 a $5 million contract for the project.
What services will NV5 provide for the project?
NV5 will deliver geomatics, environmental studies, roadway and bridge design, hydrological analysis, and more for the bypass project.
What are the expected benefits of the Watkinsville Bypass?
The bypass will reroute trucks from downtown Watkinsville, improving traffic conditions and supporting regional development in Oconee County.
Where can I find more information about NV5?
For more information, visit NV5's website at www.NV5.com and follow them on social media platforms.
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.
- TARDAN FRANCOIS sold 1,661 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$NVEE Hedge Fund Activity
We have seen 90 institutional investors add shares of $NVEE stock to their portfolio, and 136 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
- T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 1,662,780 shares (-100.0%) from their portfolio in Q3 2024
- VOYA INVESTMENT MANAGEMENT LLC removed 550,423 shares (-69.4%) from their portfolio in Q3 2024
- REDWOOD GROVE CAPITAL, LLC added 539,108 shares (+inf%) to their portfolio in Q3 2024
- CHARLES SCHWAB INVESTMENT MANAGEMENT INC removed 458,620 shares (-74.0%) from their portfolio in Q3 2024
- NINE TEN CAPITAL MANAGEMENT LLC removed 387,389 shares (-68.7%) from their portfolio in Q3 2024
- SUMMIT CREEK ADVISORS LLC removed 383,272 shares (-76.4%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
HOLLYWOOD, Fla., Dec. 23, 2024 (GLOBE NEWSWIRE) -- NV5, a provider of technology, conformity assessment, and consulting solutions, announced today that it has been awarded a $5 million, five-year contract by the Georgia Department of Transportation (GDOT) to lead the Watkinsville Bypass project connecting SR 24 and SR 15 in Oconee County, Georgia. NV5 will deliver a full suite of services, including geomatics, environmental studies, roadway and bridge design, hydraulic and hydrological analysis, traffic and geotechnical engineering, right-of-way services, and erosion control.
“This award highlights NV5’s ability to effectively cross-sell our diverse capabilities, driving growth and reinforcing our reputation for delivering innovative, high-value solutions in the infrastructure sector,” said Alex Hockman, PE, CEO of Infrastructure at NV5. “We look forward to collaborating with GDOT to bring the Watkinsville Truck Bypass project to life.”
The Watkinsville Bypass is the result of a transportation study conducted in 2021 to determine a proposed route and impact on local traffic conditions. The bypass will improve connectivity and traffic flow by rerouting trucks away from downtown Watkinsville and will contribute to regional development and transportation efficiency in Oconee County.
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, construction quality assurance, buildings & technology, environmental health sciences, and geospatial services. 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
Twitter
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LinkedIn
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Facebook
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Vimeo
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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:
ir@nv5.com
Source: NV5 Global, Inc.
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