Royce & Associates LP Purchases New Position in Bowman Consulting Group Ltd. $BWMN

Key Points

• Royce & Associates LP opened a new stake in Bowman Consulting Group, buying 64,837 shares worth about $2.14 million in the fourth quarter.
• Several other institutional investors also increased or initiated positions, and institutional ownership now stands at 63.20% of the stock.
• Bowman reported Q1 earnings of $0.14 per share, missing estimates, though revenue of $126.48 million came in above expectations; analysts currently have a Hold consensus with an average target price of $47.50.

Royce & Associates LP bought a new position in shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 64,837 shares of the company's stock, valued at approximately $2,141,000. Royce & Associates LP owned approximately 0.37% of Bowman Consulting Group as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake 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 acquiring an additional 13,366 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Bowman Consulting Group by 3,560.2% during the 3rd quarter. Alliancebernstein L.P. now owns 524,867 shares of the company's stock worth $22,233,000 after acquiring an additional 510,527 shares in the last quarter. Summit Creek Advisors LLC grew its stake in shares of 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 grew its stake in shares of Bowman Consulting Group by 8.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 304,986 shares of the company's stock worth $12,918,000 after acquiring an additional 24,760 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Bowman Consulting Group during the 3rd quarter worth approximately $6,590,000. 63.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Bowman Consulting Group

In other Bowman Consulting Group news, Director Raymond Jr. Vicks sold 1,230 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $33.34, for a total transaction of $41,008.20. Following the completion of the sale, the director owned 18,143 shares of the company's stock, valued at $604,887.62. This trade represents a 6.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary Bowman sold 7,500 shares of the firm's stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $30.71, for a total value of $230,325.00. Following the sale, the chief executive officer directly owned 1,353,338 shares of the company's stock, valued at $41,561,009.98. This represents a 0.55% 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. Insiders have sold a total of 21,230 shares of company stock valued at $655,208 in the last ninety days. Insiders own 17.50% of the company's stock.

Bowman Consulting Group Trading Down 3.8%

Shares of Bowman Consulting Group stock opened at $31.53 on Friday. The business has a fifty day simple moving average of $31.14 and a two-hundred day simple moving average of $32.91. Bowman Consulting Group Ltd. has a 1 year low of $24.77 and a 1 year high of $45.83. The company has a market capitalization of $552.09 million, a price-to-earnings ratio of 52.55, a P/E/G ratio of 4.19 and a beta of 1.36. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.93 and a quick ratio of 0.93.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.07). Bowman Consulting Group had a net margin of 2.02% and a return on equity of 3.98%. The business had revenue of $126.48 million for the quarter, compared to analyst estimates of $114.49 million. Research analysts forecast that Bowman Consulting Group Ltd. will post 0.77 EPS for the current year.

Wall Street Analysts Forecast Growth

BWMN has been the subject of several research reports. Weiss Ratings cut shares of Bowman Consulting Group from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, May 22nd. Wall Street Zen cut shares of Bowman Consulting Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. increased their price objective on Bowman Consulting Group from $38.00 to $40.00 and gave the company a "neutral" rating in a report on Friday, May 8th. Roth Mkm set a $58.00 price objective on Bowman Consulting Group and gave the company a "buy" rating in a report on Thursday, May 7th. Finally, Zacks Research downgraded Bowman Consulting Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 4th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $47.50.

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.

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