Bowman Consulting Group (NASDAQ:BWMN) Announces Quarterly Earnings Results

Key Points

• Bowman Consulting Group exceeded quarterly expectations, reporting EPS of $0.62 versus the $0.47 consensus estimate and revenue of $146.13 million compared with estimates of $129.35 million.
• The stock opened at $42.27, near its 52-week high of $45.83. Analysts maintain a consensus “Hold” rating with an average price target of $47.50.
• Institutional investors own 63.20% of the company, while insider ownership stands at 17.50%; director Raymond Jr. Vicks recently sold 1,230 shares under a Rule 10b5-1 trading plan.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) released its quarterly earnings results on Monday. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.47 by $0.15, FiscalAI reports. The business had revenue of $146.13 million for the quarter, compared to analyst estimates of $129.35 million. Bowman Consulting Group had a net margin of 2.02% and a return on equity of 3.98%.

Bowman Consulting Group Stock Performance

Bowman Consulting Group stock opened at $42.27 on Monday. The stock has a market cap of $740.17 million, a P/E ratio of 70.53, a price-to-earnings-growth ratio of 3.43 and a beta of 1.36. The stock has a 50 day moving average of $28.77 and a 200-day moving average of $30.78. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.22. Bowman Consulting Group has a 52 week low of $25.07 and a 52 week high of $45.83.

Analysts Set New Price Targets

Several brokerages recently issued reports on BWMN. JPMorgan Chase & Co. upped their price objective on shares of Bowman Consulting Group from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Friday, May 8th. Wall Street Zen lowered Bowman Consulting Group from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Roth Capital set a $58.00 price objective on shares of Bowman Consulting Group and gave the company a "buy" rating in a research note on Thursday, May 7th. Finally, Weiss Ratings upgraded Bowman Consulting Group from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Bowman Consulting Group has a consensus rating of "Hold" and a consensus target price of $47.50.

Insider Transactions at Bowman Consulting Group

In other Bowman Consulting Group news, Director Raymond Jr. Vicks sold 1,230 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $33.34, for a total transaction of $41,008.20. Following the sale, the director owned 18,143 shares in the company, valued at $604,887.62. This represents a 6.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BWMN. Tower Research Capital LLC TRC raised its holdings in shares of Bowman Consulting Group by 244.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,301 shares of the company's stock worth $66,000 after purchasing an additional 1,633 shares during the period. NewEdge Advisors LLC raised its stake in Bowman Consulting Group by 478,000.0% during the third quarter. NewEdge Advisors LLC now owns 4,781 shares of the company's stock worth $203,000 after acquiring an additional 4,780 shares during the period. Zacks Investment Management bought a new position in Bowman Consulting Group in the third quarter worth about $207,000. State of Wyoming acquired a new position in shares of Bowman Consulting Group during the fourth quarter valued at $205,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Bowman Consulting Group in the 3rd quarter worth about $266,000. Institutional investors and hedge funds own 63.20% of the company's stock.

Bowman Consulting Group Company Profile

Bowman Consulting Group Ltd. NASDAQ: BWMN is a multidisciplinary professional services firm that provides engineering, environmental, planning and surveying services to public and private sector clients. Its service offerings encompass civil, geotechnical and environmental engineering; land development planning and permitting; construction management; survey and geospatial services; and ecological and water resources consulting. The firm supports infrastructure, real estate, energy, utilities and telecommunications projects, delivering site characterization, design, permitting and construction-phase oversight.

Since its founding in 1980, Bowman Consulting Group has grown organically and through strategic acquisitions to expand its technical capabilities and geographic footprint.

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