JPMorgan Chase & Co. Begins Coverage on Bowman Consulting Group (NASDAQ:BWMN)

Equities researchers at JPMorgan Chase & Co. assumed coverage on shares of Bowman Consulting Group (NASDAQ:BWMN) in a research note issued to investors on Friday,Benzinga reports. The brokerage set a “neutral” rating and a $40.00 price target on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 15.04% from the stock’s previous close.

BWMN has been the topic of a number of other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Bowman Consulting Group in a report on Monday, December 29th. Roth Capital increased their price target on shares of Bowman Consulting Group from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Zacks Research raised shares of Bowman Consulting Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Finally, Wall Street Zen cut shares of Bowman Consulting Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Bowman Consulting Group has an average rating of “Moderate Buy” and an average target price of $40.90.

Bowman Consulting Group Trading Down 0.4%

Shares of BWMN stock opened at $34.77 on Friday. The company has a market capitalization of $603.95 million, a P/E ratio of 37.39, a P/E/G ratio of 2.26 and a beta of 1.33. The firm has a 50-day moving average price of $35.22 and a 200 day moving average price of $37.12. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.14. Bowman Consulting Group has a 12-month low of $17.90 and a 12-month high of $45.83.

Bowman Consulting Group (NASDAQ:BWMN) last announced its earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.38 by $0.23. Bowman Consulting Group had a return on equity of 6.30% and a net margin of 3.33%.The business had revenue of $112.09 million for the quarter, compared to the consensus estimate of $130.45 million.

Insiders Place Their Bets

In other Bowman Consulting Group news, CFO Bruce J. Labovitz sold 10,000 shares of the company’s stock in a transaction on Monday, October 13th. The shares were sold at an average price of $42.37, for a total transaction of $423,700.00. Following the completion of the sale, the chief financial officer owned 385,560 shares in the company, valued at approximately $16,336,177.20. The trade was a 2.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gary Bowman sold 7,500 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $35.25, for a total value of $264,375.00. Following the completion of the transaction, the chief executive officer owned 1,375,838 shares in the company, valued at $48,498,289.50. This represents a 0.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 50,000 shares of company stock valued at $1,974,100 in the last ninety days. Company insiders own 17.42% of the company’s stock.

Institutional Trading of Bowman Consulting Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its stake in Bowman Consulting Group by 51.0% during the 1st quarter. Royal Bank of Canada now owns 48,613 shares of the company’s stock worth $1,061,000 after acquiring an additional 16,421 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Bowman Consulting Group by 4.6% during the first quarter. Goldman Sachs Group Inc. now owns 50,176 shares of the company’s stock worth $1,095,000 after purchasing an additional 2,203 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Bowman Consulting Group in the 1st quarter valued at $287,000. Rhumbline Advisers increased its position in shares of Bowman Consulting Group by 4.7% in the 1st quarter. Rhumbline Advisers now owns 18,829 shares of the company’s stock valued at $411,000 after buying an additional 845 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in Bowman Consulting Group by 39.6% during the 1st quarter. Voya Investment Management LLC now owns 17,887 shares of the company’s stock worth $390,000 after buying an additional 5,077 shares during the period. 63.20% of the stock is owned by institutional investors.

About Bowman Consulting Group

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.