Bowman Consulting Group (NASDAQ:BWMN) Hits New 12-Month High – Here’s Why

Bowman Consulting Group Ltd. (NASDAQ:BWMN) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $44.25 and last traded at $43.24, with a volume of 80406 shares changing hands. The stock had previously closed at $43.89.

Analyst Upgrades and Downgrades

BWMN has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Bowman Consulting Group from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 9th. B. Riley boosted their target price on shares of Bowman Consulting Group from $43.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Finally, Zacks Research upgraded shares of Bowman Consulting Group from a “hold” rating to a “strong-buy” rating in a report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $38.17.

Bowman Consulting Group Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.26 and a quick ratio of 1.26. The stock’s 50-day simple moving average is $39.00 and its 200 day simple moving average is $29.92. The stock has a market capitalization of $722.26 million, a P/E ratio of 69.78 and a beta of 1.33.

Bowman Consulting Group declared that its board has approved a share buyback program on Friday, June 6th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the company to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Bowman Consulting Group

In other Bowman Consulting Group news, COO Daniel Swayze sold 1,350 shares of Bowman Consulting Group stock in a transaction on Monday, September 8th. The shares were sold at an average price of $41.33, for a total transaction of $55,795.50. Following the completion of the transaction, the chief operating officer directly owned 10,954 shares of the company’s stock, valued at $452,728.82. The trade was a 10.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Bruce J. Labovitz sold 10,000 shares of Bowman Consulting Group stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $43.30, for a total transaction of $433,000.00. Following the transaction, the chief financial officer directly owned 395,560 shares of the company’s stock, valued at approximately $17,127,748. This trade represents a 2.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,750 shares of company stock valued at $1,471,340. 17.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bowman Consulting Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. boosted its position in Bowman Consulting Group by 28.4% during the second quarter. Ameritas Investment Partners Inc. now owns 1,435 shares of the company’s stock worth $41,000 after purchasing an additional 317 shares during the period. Comerica Bank boosted its position in shares of Bowman Consulting Group by 7.0% in the first quarter. Comerica Bank now owns 11,532 shares of the company’s stock valued at $252,000 after acquiring an additional 751 shares during the period. Boston Partners boosted its position in shares of Bowman Consulting Group by 3.5% in the second quarter. Boston Partners now owns 23,738 shares of the company’s stock valued at $682,000 after acquiring an additional 813 shares during the period. Rhumbline Advisers boosted its position in shares of Bowman Consulting Group by 4.7% in the first quarter. Rhumbline Advisers now owns 18,829 shares of the company’s stock valued at $411,000 after acquiring an additional 845 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position 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 valued at $66,000 after acquiring an additional 1,633 shares during the period. 63.20% of the stock is owned by institutional investors.

About Bowman Consulting Group

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.