JPMorgan Chase & Co. Acquires 91,181 Shares of Bowman Consulting Group Ltd. $BWMN

Key Points

• JPMorgan Chase & Co. boosted its stake in Bowman Consulting Group by 998.9%, buying an additional 91,181 shares to hold 100,309 shares (about 0.58% of the company) valued at roughly $4.25 million at quarter-end.
• Analyst views are mixed, with the stock carrying an average rating of "Moderate Buy" and an average target price of $45.50; notable recent notes include JPMorgan's neutral $40 target and Roth MKM's $50 buy rating.
• CEO Gary Bowman sold 12,500 shares at an average price of $35.37 on January 21, reducing his position to 879,943 shares, and insiders now own 17.42% of the company.

JPMorgan Chase & Co. boosted its holdings in shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN - Free Report) by 998.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 100,309 shares of the company's stock after purchasing an additional 91,181 shares during the quarter. JPMorgan Chase & Co. owned about 0.58% of Bowman Consulting Group worth $4,249,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new position in Bowman Consulting Group in the 3rd quarter worth approximately $40,000. Tower Research Capital LLC TRC lifted its holdings in shares of Bowman Consulting Group by 244.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,301 shares of the company's stock worth $66,000 after buying an additional 1,633 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Bowman Consulting Group in the third quarter worth $175,000. Strs Ohio bought a new position in shares of Bowman Consulting Group during the third quarter worth $182,000. Finally, NewEdge Advisors LLC boosted its position in shares of Bowman Consulting Group by 478,000.0% during the third quarter. NewEdge Advisors LLC now owns 4,781 shares of the company's stock worth $203,000 after acquiring an additional 4,780 shares during the last quarter. 63.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BWMN shares. JPMorgan Chase & Co. assumed coverage on shares of Bowman Consulting Group in a report on Friday, January 9th. They issued a "neutral" rating and a $40.00 price target on the stock. Zacks Research lowered Bowman Consulting Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 4th. Roth Mkm lifted their target price on Bowman Consulting Group from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, December 8th. Wall Street Zen downgraded Bowman Consulting Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 7th. Finally, Robert W. Baird dropped their price target on Bowman Consulting Group from $43.00 to $37.00 and set an "outperform" rating for the company in a research note on Friday, March 6th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $45.50.

Insider Buying and Selling

In related news, CEO Gary Bowman sold 12,500 shares of the company's stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $35.37, for a total transaction of $442,125.00. Following the transaction, the chief executive officer directly owned 879,943 shares in the company, valued at approximately $31,123,583.91. This represents a 1.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 17.42% of the company's stock.

Bowman Consulting Group Price Performance

Shares of BWMN opened at $29.65 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.22. The business has a fifty day moving average of $31.55 and a 200 day moving average of $35.73. The company has a market cap of $507.61 million, a PE ratio of 41.76, a P/E/G ratio of 1.75 and a beta of 1.39. Bowman Consulting Group Ltd. has a 52-week low of $20.24 and a 52-week high of $45.83.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.07. Bowman Consulting Group had a net margin of 2.48% and a return on equity of 4.78%. The business had revenue of $128.96 million for the quarter, compared to analysts' expectations of $129.12 million.

Bowman Consulting Group Company 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.

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