Bank of New York Mellon Corp Acquires Shares of 40,641 Bowman Consulting Group Ltd. $BWMN

Key Points

• Bank of New York Mellon acquired 40,641 shares of Bowman Consulting Group, worth approximately $1.19 million, giving it a 0.23% stake. Institutional investors collectively own 63.20% of the company.
• Bowman reported quarterly earnings of $0.62 per share, beating estimates of $0.47, while revenue of $146.13 million exceeded the $129.35 million consensus forecast.
• Analyst sentiment remains cautious: seven analysts rate the stock Hold and one rates it Sell, producing an average “Reduce” rating and a $43 target price. Shares recently opened at $42.55.

Bank of New York Mellon Corp acquired a new position in shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 40,641 shares of the company's stock, valued at approximately $1,187,000. Bank of New York Mellon Corp owned about 0.23% of Bowman Consulting Group at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BWMN. Vanguard Group Inc. lifted its position in shares of Bowman Consulting Group by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 802,969 shares of the company's stock worth $34,014,000 after buying an additional 13,366 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Bowman Consulting Group by 3,560.2% in the 3rd quarter. Alliancebernstein L.P. now owns 524,867 shares of the company's stock valued at $22,233,000 after buying an additional 510,527 shares during the last quarter. Summit Creek Advisors LLC raised its stake in Bowman Consulting Group by 10.1% during the 4th quarter. Summit Creek Advisors LLC now owns 399,094 shares of the company's stock worth $13,178,000 after acquiring an additional 36,645 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Bowman Consulting Group by 13.1% in the first quarter. Dimensional Fund Advisors LP now owns 377,799 shares of the company's stock valued at $10,744,000 after acquiring an additional 43,624 shares during the last quarter. Finally, Polar Asset Management Partners Inc. boosted its stake in Bowman Consulting Group by 12.3% in the first quarter. Polar Asset Management Partners Inc. now owns 320,000 shares of the company's stock valued at $9,101,000 after acquiring an additional 34,976 shares in the last quarter. Hedge funds and other institutional investors own 63.20% of the company's stock.

Insiders Place Their Bets

In related news, Director Patricia Mulroy sold 883 shares of Bowman Consulting Group stock in a transaction on Monday, August 10th. The shares were sold at an average price of $42.37, for a total value of $37,412.71. Following the transaction, the director directly owned 26,330 shares in the company, valued at $1,115,602.10. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BWMN shares. Capital One Financial set a $43.00 price target on Bowman Consulting Group in a research note on Tuesday, August 11th. Craig Hallum cut shares of Bowman Consulting Group from a "buy" rating to a "hold" rating and set a $43.00 target price on the stock. in a report on Tuesday, August 11th. Wolfe Research set a $43.00 price target on shares of Bowman Consulting Group in a research report on Tuesday, August 11th. JPMorgan Chase & Co. cut shares of Bowman Consulting Group from a "neutral" rating to an "underweight" rating and increased their price target for the stock from $40.00 to $43.00 in a research note on Friday, August 21st. Finally, Texas Capital downgraded shares of Bowman Consulting Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. Seven research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Bowman Consulting Group has an average rating of "Reduce" and an average target price of $43.00.

Bowman Consulting Group Stock Down 0.0%

BWMN opened at $42.55 on Thursday. Bowman Consulting Group Ltd. has a 52 week low of $25.07 and a 52 week high of $45.83. The business has a 50 day moving average price of $34.15 and a two-hundred day moving average price of $32.07. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.22. The company has a market cap of $737.82 million, a PE ratio of 106.37 and a beta of 1.44.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.15. Bowman Consulting Group had a return on equity of 2.67% and a net margin of 1.30%.The company had revenue of $146.13 million for the quarter, compared to the consensus estimate of $129.35 million. As a group, research analysts anticipate that Bowman Consulting Group Ltd. will post 0.75 EPS for the current year.

Bowman Consulting Group 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.

Want to see what other hedge funds are holding BWMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bowman Consulting Group Ltd. (NASDAQ:BWMN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.