Swedbank AB Has $11.97 Million Stock Position in Bowman Consulting Group Ltd. $BWMN

Key Points

• Swedbank AB increased its stake in Bowman Consulting Group by 108.2%, owning approximately 2.42% of the company worth $11.97 million after acquiring additional shares during the second quarter.
• Bowman Consulting Group approved a $25 million share repurchase program, indicating that the company's board believes its stock is undervalued.
• Wall Street analysts have upgraded Bowman Consulting's rating to strong-buy, with B. Riley raising the target price from $43 to $55.

Swedbank AB grew its stake in shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN - Free Report) by 108.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 416,492 shares of the company's stock after buying an additional 216,492 shares during the quarter. Swedbank AB owned about 2.42% of Bowman Consulting Group worth $11,974,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Financial Markets bought a new stake in shares of Bowman Consulting Group during the 4th quarter worth about $42,000. Brooklyn Investment Group bought a new stake in shares of Bowman Consulting Group during the 1st quarter worth about $45,000. GAMMA Investing LLC raised its position in shares of Bowman Consulting Group by 1,856.3% during the 1st quarter. GAMMA Investing LLC now owns 4,519 shares of the company's stock worth $99,000 after buying an additional 4,288 shares in the last quarter. NBC Securities Inc. raised its position in shares of Bowman Consulting Group by 100,080.0% during the 1st quarter. NBC Securities Inc. now owns 5,009 shares of the company's stock worth $109,000 after buying an additional 5,004 shares in the last quarter. Finally, Comerica Bank raised its position in shares of Bowman Consulting Group by 7.0% during the 1st quarter. Comerica Bank now owns 11,532 shares of the company's stock worth $252,000 after buying an additional 751 shares in the last quarter. 63.20% of the stock is currently owned by institutional investors.

Bowman Consulting Group Stock Down 1.8%

Shares of BWMN stock traded down $0.79 during trading on Tuesday, hitting $43.11. 31,268 shares of the company were exchanged, compared to its average volume of 111,197. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market capitalization of $743.56 million, a price-to-earnings ratio of 71.82 and a beta of 1.33. The business's 50-day simple moving average is $38.36 and its 200 day simple moving average is $29.57. Bowman Consulting Group Ltd. has a twelve month low of $17.90 and a twelve month high of $44.25.

Bowman Consulting Group announced that its Board of Directors has authorized 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other Bowman Consulting Group news, COO Daniel Swayze sold 1,350 shares of Bowman Consulting Group stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $41.33, for a total value of $55,795.50. Following the completion of the sale, the chief operating officer directly owned 10,954 shares in the company, valued at $452,728.82. The trade was a 10.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen A. Riddick sold 3,000 shares of Bowman Consulting Group stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $41.04, for a total transaction of $123,120.00. Following the completion of the sale, the director owned 18,461 shares of the company's stock, valued at $757,639.44. This trade represents a 13.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,750 shares of company stock valued at $190,540 over the last quarter. Corporate insiders own 17.42% of the company's stock.

Wall Street Analysts Forecast Growth

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