Bowman Consulting Group Ltd. $BWMN Shares Newly Purchased by Bank of America Corp DE

Key Points

• Bank of America initiated a position in Bowman Consulting Group, purchasing 26,014 shares valued at approximately $760,000, while institutional investors collectively own 63.20% of the company.
• Analyst sentiment remains cautious: seven analysts rate the stock Hold and one rates it Sell, resulting in a consensus “Reduce” rating and an average price target of $43.00.
• Bowman exceeded quarterly expectations, reporting $0.62 in earnings per share and $146.12 million in revenue versus estimates of $0.47 and $129.35 million, respectively. The stock opened at $42.60, near the analyst target, while insiders have sold 61,797 shares worth about $2.62 million over the past 90 days.

Bank of America Corp DE bought a new position in shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 26,014 shares of the company's stock, valued at approximately $760,000. Bank of America Corp DE owned 0.15% of Bowman Consulting Group at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Quantinno Capital Management LP raised its holdings in shares of Bowman Consulting Group by 10.9% in the 1st quarter. Quantinno Capital Management LP now owns 10,584 shares of the company's stock valued at $301,000 after purchasing an additional 1,041 shares during the period. Strs Ohio lifted its holdings in Bowman Consulting Group by 7.1% during the 1st quarter. Strs Ohio now owns 18,100 shares of the company's stock valued at $515,000 after purchasing an additional 1,200 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Bowman Consulting Group during the second quarter worth approximately $42,000. Globeflex Capital L P acquired a new stake in Bowman Consulting Group during the second quarter worth approximately $121,000. Finally, Fiduciary Financial Advisors acquired a new position in Bowman Consulting Group during the second quarter valued at approximately $153,000. 63.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BWMN has been the subject of several research reports. Robert W. Baird set a $43.00 price objective on shares of Bowman Consulting Group in a research note on Monday, August 10th. Craig Hallum cut Bowman Consulting Group from a "buy" rating to a "hold" rating and set a $43.00 target price for the company. in a report on Tuesday, August 11th. Capital One Financial set a $43.00 price objective on shares of Bowman Consulting Group in a research note on Tuesday, August 11th. Wolfe Research set a $43.00 price target on Bowman Consulting Group in a research report on Tuesday, August 11th. Finally, Weiss Ratings raised Bowman Consulting Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 25th. Seven analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $43.00.

Bowman Consulting Group Stock Up 0.0%

BWMN opened at $42.60 on Friday. The business's fifty day simple moving average is $39.35 and its 200 day simple moving average is $33.41. Bowman Consulting Group Ltd. has a 52 week low of $25.07 and a 52 week high of $45.83. The stock has a market cap of $738.68 million, a PE ratio of 106.50 and a beta of 1.48. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.22.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $146.12 million for the quarter, compared to the consensus estimate of $129.35 million. As a group, research analysts expect that Bowman Consulting Group Ltd. will post 0.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bowman Consulting Group news, CEO Gary Bowman sold 37,500 shares of the firm's stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $42.55, for a total transaction of $1,595,625.00. Following the transaction, the chief executive officer owned 780,948 shares of the company's stock, valued at approximately $33,229,337.40. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Patricia Mulroy sold 883 shares of the 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 sale, 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 61,797 shares of company stock valued at $2,615,310. 17.50% of the stock is owned by company insiders.

Bowman Consulting Group Profile

Bowman Consulting Group Ltd. is a professional services firm that provides engineering, planning, surveying and technical consulting services for infrastructure and development projects. The company serves public- and private-sector clients across areas such as transportation, power and utilities, water, real estate, renewable energy, mining and federal programs.

Its services include civil engineering, transportation engineering, environmental consulting, geomatics and surveying, land planning, construction management, landscape architecture and other related project and program management support.

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