Nuveen LLC Invests $566,000 in Bowman Consulting Group Ltd. $BWMN

Key Points

• Nuveen LLC purchased a new position in Bowman Consulting Group Ltd. by acquiring 25,929 shares worth approximately $566,000, representing about 0.15% ownership in the company.
• The company has initiated a $25 million stock buyback program, allowing it to buy back up to 5.4% of its shares, indicating the board's belief that the stock is undervalued.
• Wall Street analysts have upgraded Bowman Consulting Group's rating to "strong-buy", with one analyst increasing the price target from $43 to $55.

Nuveen LLC purchased a new position in shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 25,929 shares of the company's stock, valued at approximately $566,000. Nuveen LLC owned about 0.15% of Bowman Consulting Group at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its stake in Bowman Consulting Group by 527.6% in the 1st quarter. Cetera Investment Advisers now owns 82,343 shares of the company's stock worth $1,798,000 after purchasing an additional 69,223 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Bowman Consulting Group by 41.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 194,515 shares of the company's stock worth $4,853,000 after acquiring an additional 57,278 shares during the last quarter. Brookwood Investment Group LLC acquired a new stake in Bowman Consulting Group during the 1st quarter valued at $866,000. Summit Creek Advisors LLC grew its position in Bowman Consulting Group by 9.3% in the first quarter. Summit Creek Advisors LLC now owns 408,042 shares of the company's stock valued at $8,908,000 after acquiring an additional 34,599 shares during the last quarter. Finally, Conestoga Capital Advisors LLC lifted its stake in shares of Bowman Consulting Group by 20.8% in the first quarter. Conestoga Capital Advisors LLC now owns 56,630 shares of the company's stock worth $1,236,000 after acquiring an additional 9,760 shares during the period. 63.20% of the stock is currently owned by institutional investors.

Bowman Consulting Group Stock Performance

Shares of NASDAQ:BWMN traded up $0.49 on Monday, hitting $41.28. The company had a trading volume of 76,540 shares, compared to its average volume of 109,194. Bowman Consulting Group Ltd. has a 1-year low of $17.90 and a 1-year high of $43.21. The stock has a 50 day moving average price of $35.69 and a 200 day moving average price of $27.89. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. The stock has a market cap of $712.08 million, a price-to-earnings ratio of 68.80 and a beta of 1.33.

Bowman Consulting Group announced that its Board of Directors has initiated a share buyback program on Friday, June 6th that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Bowman Consulting Group news, insider Robert Alan Hickey sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $26.70, for a total transaction of $133,500.00. Following the transaction, the insider directly owned 176,685 shares in the company, valued at $4,717,489.50. This trade represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 5,800 shares of company stock worth $156,108 over the last quarter. 17.42% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on BWMN. Wall Street Zen upgraded Bowman Consulting Group from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. B. Riley raised their target price on Bowman Consulting Group from $43.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Finally, Zacks Research raised shares of Bowman Consulting Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $38.17.

Bowman Consulting Group Profile

Bowman Consulting Group Ltd. provides a range of real estate, energy, infrastructure, and environmental management solutions in the United States. It offers civil and site engineering services, such as conceptual land planning, environmental consulting and permitting, planning/zoning and entitlements, roadway and highway designs, erosion and sediment designs, stormwater management designs, construction administration, traffic studies, floodplain studies, and utility relocation designs; and commissioning and energy efficiency services comprise construction observation, direct systems functional performance testing, system development readiness checklist, post occupancy review, review of construction documents, deferred/seasonal functional testing, final commissioning report, and commissioning review of submittals.