Novare Capital Management LLC Reduces Stock Position in Bowman Consulting Group Ltd. $BWMN

Novare Capital Management LLC reduced its stake in Bowman Consulting Group Ltd. (NASDAQ:BWMN) by 31.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,600 shares of the company’s stock after selling 14,707 shares during the period. Novare Capital Management LLC owned approximately 0.19% of Bowman Consulting Group worth $1,381,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State of Alaska Department of Revenue bought a new position in Bowman Consulting Group in the 3rd quarter worth about $40,000. Ameritas Investment Partners Inc. boosted its position in shares of Bowman Consulting Group by 28.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,435 shares of the company’s stock valued at $41,000 after acquiring an additional 317 shares during the period. Tower Research Capital LLC TRC grew its stake in Bowman Consulting Group by 244.5% during 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 in the last quarter. AlphaQuest LLC bought a new stake in Bowman Consulting Group during the 2nd quarter worth approximately $103,000. Finally, Emerald Advisers LLC increased its holdings in Bowman Consulting Group by 105.9% during the 2nd quarter. Emerald Advisers LLC now owns 6,333 shares of the company’s stock worth $182,000 after acquiring an additional 3,257 shares during the period. 63.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BWMN. Roth Mkm boosted 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 report on Monday, December 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Bowman Consulting Group in a research note on Monday, December 29th. Zacks Research upgraded Bowman Consulting Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. Wall Street Zen downgraded Bowman Consulting Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 20th. Finally, JPMorgan Chase & Co. assumed coverage on Bowman Consulting Group in a report on Friday, January 9th. They set a “neutral” rating and a $40.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Bowman Consulting Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.90.

Insider Buying and Selling at Bowman Consulting Group

In other news, CEO Gary Bowman sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $35.37, for a total value of $265,275.00. Following the transaction, the chief executive officer owned 1,368,338 shares in the company, valued at approximately $48,398,115.06. This trade represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 40,000 shares of company stock worth $1,412,400 over the last ninety days. Corporate insiders own 17.42% of the company’s stock.

Bowman Consulting Group Stock Performance

NASDAQ BWMN opened at $34.84 on Wednesday. The company has a 50-day simple moving average of $34.93 and a two-hundred day simple moving average of $37.83. Bowman Consulting Group Ltd. has a 12-month low of $17.90 and a 12-month high of $45.83. The firm has a market cap of $605.17 million, a price-to-earnings ratio of 37.46, a PEG ratio of 2.14 and a beta of 1.33. 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 (NASDAQ:BWMN) last released its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $112.09 million during the quarter, compared to analyst estimates of $130.45 million.

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.