Bowman Consulting Group Ltd. (NASDAQ:BWMN) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE increased its stake in shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN - Free Report) by 97.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,834 shares of the company's stock after acquiring an additional 9,307 shares during the quarter. Bank of America Corp DE owned about 0.11% of Bowman Consulting Group worth $470,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Bowman Consulting Group by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 800,748 shares of the company's stock valued at $19,979,000 after purchasing an additional 13,198 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Bowman Consulting Group by 1.9% during the fourth quarter. Bank of New York Mellon Corp now owns 32,031 shares of the company's stock worth $799,000 after acquiring an additional 586 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Bowman Consulting Group by 51.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,303 shares of the company's stock worth $357,000 after acquiring an additional 4,844 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Bowman Consulting Group by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 40,039 shares of the company's stock worth $999,000 after acquiring an additional 1,331 shares during the period. Finally, Comerica Bank increased its stake in shares of Bowman Consulting Group by 12.8% during the fourth quarter. Comerica Bank now owns 10,781 shares of the company's stock worth $269,000 after acquiring an additional 1,220 shares during the period. 63.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BWMN shares. Wall Street Zen lowered shares of Bowman Consulting Group from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. Robert W. Baird boosted their price target on shares of Bowman Consulting Group from $28.00 to $29.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Bank of America dropped their price target on shares of Bowman Consulting Group from $36.50 to $30.50 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Finally, B. Riley upgraded shares of Bowman Consulting Group to a "strong-buy" rating in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $34.17.

Bowman Consulting Group Price Performance

BWMN stock traded up $0.02 during trading on Friday, reaching $27.66. 106,544 shares of the company were exchanged, compared to its average volume of 93,656. The company has a market cap of $476.66 million, a P/E ratio of -35.01 and a beta of 1.26. Bowman Consulting Group Ltd. has a 52-week low of $17.90 and a 52-week high of $36.65. The stock's 50 day moving average price is $24.20 and its 200 day moving average price is $24.11. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.43 and a current ratio of 1.43.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.21). Bowman Consulting Group had a negative net margin of 2.62% and a positive return on equity of 3.76%.

Bowman Consulting Group announced that its Board of Directors has initiated a stock repurchase plan on Friday, June 6th that allows the company to repurchase $25.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Bowman Consulting Group Company 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.