Pembroke Management LTD Buys 59,197 Shares of Bowman Consulting Group Ltd. $BWMN

Key Points

• Pembroke Management LTD increased its stake in Bowman Consulting Group by 12.8% in the first quarter, owning a total of 520,519 shares worth approximately $11.36 million, making it the company's 26th largest investment.
• The company's board approved a $25 million share buyback plan that allows for the repurchase of up to 5.4% of its stock, indicating a belief that the stock is undervalued.
• Bowman Consulting's stock was upgraded to a strong-buy rating by Zacks Research and other brokerages, with a current price target increase highlighting positive investor sentiment.

Pembroke Management LTD grew its stake in shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN - Free Report) by 12.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 520,519 shares of the company's stock after buying an additional 59,197 shares during the period. Bowman Consulting Group accounts for about 1.7% of Pembroke Management LTD's investment portfolio, making the stock its 26th largest position. Pembroke Management LTD owned about 3.02% of Bowman Consulting Group worth $11,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Summit Creek Advisors LLC raised its position in shares of Bowman Consulting Group by 9.3% during the first quarter. Summit Creek Advisors LLC now owns 408,042 shares of the company's stock valued at $8,908,000 after buying an additional 34,599 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Bowman Consulting Group by 41.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 194,515 shares of the company's stock valued at $4,853,000 after buying an additional 57,278 shares during the last quarter. Northern Trust Corp raised its position in shares of Bowman Consulting Group by 7.1% during the fourth quarter. Northern Trust Corp now owns 131,753 shares of the company's stock valued at $3,287,000 after buying an additional 8,727 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Bowman Consulting Group by 9.4% during the first quarter. Russell Investments Group Ltd. now owns 128,671 shares of the company's stock valued at $2,809,000 after buying an additional 11,006 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in shares of Bowman Consulting Group by 527.6% during the first quarter. Cetera Investment Advisers now owns 82,343 shares of the company's stock valued at $1,798,000 after buying an additional 69,223 shares during the last quarter. Institutional investors own 63.20% of the company's stock.

Bowman Consulting Group Trading Up 1.3%

BWMN stock opened at $42.43 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.14. Bowman Consulting Group Ltd. has a twelve month low of $17.90 and a twelve month high of $42.55. The stock has a market capitalization of $731.92 million, a price-to-earnings ratio of 70.72, a price-to-earnings-growth ratio of 3.47 and a beta of 1.31. The firm's fifty day simple moving average is $34.05 and its two-hundred day simple moving average is $27.01.

Bowman Consulting Group declared that its board has authorized a share buyback plan on Friday, June 6th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the company to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Bowman Consulting Group news, insider Robert Alan Hickey sold 5,000 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $26.70, for a total transaction of $133,500.00. Following the transaction, the insider owned 176,685 shares in the company, valued at $4,717,489.50. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 6,024 shares of company stock worth $162,514 in the last quarter. Insiders own 17.42% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BWMN. Zacks Research upgraded shares of Bowman Consulting Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Wall Street Zen upgraded shares of Bowman Consulting Group from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. B. Riley boosted their price target on shares of Bowman Consulting Group from $33.00 to $43.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, 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 report on Thursday, May 8th. One analyst has rated the stock with a Strong Buy rating and three have assigned a 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 price target of $34.17.

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.

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