Bowman Consulting Group (NASDAQ:BWMN) Announces Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Bowman Consulting Group (NASDAQ:BWMN) posted its quarterly earnings results on Monday. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.47 by $0.15, FiscalAI reports. The business had revenue of $146.13 million for the quarter, compared to analysts’ expectations of $129.35 million. Bowman Consulting Group had a net margin of 2.02% and a return on equity of 3.98%.

Bowman Consulting Group Stock Performance

Shares of NASDAQ:BWMN opened at $42.27 on Monday. The business’s fifty day moving average price is $28.77 and its two-hundred day moving average price is $30.78. Bowman Consulting Group has a fifty-two week low of $25.07 and a fifty-two week high of $45.83. The stock has a market capitalization of $740.17 million, a price-to-earnings ratio of 70.53, a price-to-earnings-growth ratio of 3.43 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BWMN. Roth Capital set a $58.00 price objective on Bowman Consulting Group and gave the company a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings upgraded Bowman Consulting Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. lifted their price target on Bowman Consulting Group from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, Wall Street Zen cut Bowman Consulting Group from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $47.50.

Insider Activity

In related news, Director Raymond Jr. Vicks sold 1,230 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $33.34, for a total transaction of $41,008.20. Following the transaction, the director owned 18,143 shares in the company, valued at $604,887.62. This represents a 6.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bowman Consulting Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Alliancebernstein L.P. grew its holdings in 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 during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Bowman Consulting Group during the 3rd quarter worth approximately $6,590,000. JPMorgan Chase & Co. grew its stake in Bowman Consulting Group by 998.9% in the third quarter. JPMorgan Chase & Co. now owns 100,309 shares of the company’s stock valued at $4,249,000 after purchasing an additional 91,181 shares in the last quarter. Polar Asset Management Partners Inc. grew its holdings in Bowman Consulting Group by 30.2% during the fourth quarter. Polar Asset Management Partners Inc. now owns 285,024 shares of the company’s stock worth $9,411,000 after purchasing an additional 66,029 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Bowman Consulting Group by 315.3% in the third quarter. Ameriprise Financial Inc. now owns 82,410 shares of the company’s stock valued at $3,491,000 after purchasing an additional 62,565 shares during the period. Institutional investors own 63.20% of the company’s stock.

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.