Wellington Management Group LLP Boosts Stake in Bowman Consulting Group Ltd. $BWMN

Wellington Management Group LLP boosted its position in shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN) by 215.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 184,736 shares of the company’s stock after buying an additional 126,136 shares during the period. Wellington Management Group LLP’s holdings in Bowman Consulting Group were worth $5,394,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Bowman Consulting Group during the 2nd quarter worth approximately $31,113,000. Alliancebernstein L.P. grew its holdings in shares of Bowman Consulting Group by 3,560.2% in the third quarter. Alliancebernstein L.P. now owns 524,867 shares of the company’s stock valued at $22,233,000 after purchasing an additional 510,527 shares in the last quarter. Polar Asset Management Partners Inc. bought a new stake in Bowman Consulting Group in the second quarter worth $7,210,000. Summit Creek Advisors LLC bought a new stake in Bowman Consulting Group in the second quarter worth $6,431,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Bowman Consulting Group during the third quarter valued at $6,590,000. Hedge funds and other institutional investors own 63.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. cut shares of Bowman Consulting Group from a “neutral” rating to an “underweight” rating and lifted their price objective for the stock from $40.00 to $43.00 in a research note on Friday, August 21st. Craig Hallum downgraded shares of Bowman Consulting Group from a “buy” rating to a “hold” rating and set a $43.00 price target for the company. in a report on Tuesday, August 11th. Weiss Ratings upgraded Bowman Consulting Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Texas Capital cut Bowman Consulting Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Wolfe Research set a $43.00 price objective on Bowman Consulting Group in a research report on Tuesday, August 11th. Seven investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $43.00.

Bowman Consulting Group Stock Performance

Shares of NASDAQ:BWMN opened at $42.55 on Thursday. The company has a market capitalization of $737.82 million, a price-to-earnings ratio of 106.37 and a beta of 1.44. Bowman Consulting Group Ltd. has a 12 month low of $25.07 and a 12 month high of $45.83. The firm’s 50-day moving average is $34.15 and its 200 day moving average is $32.07. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22.

Bowman Consulting Group (NASDAQ:BWMN) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.15. Bowman Consulting Group had a net margin of 1.30% and a return on equity of 2.67%. The business had revenue of $146.13 million during the quarter, compared to the consensus estimate of $129.35 million. Research analysts predict that Bowman Consulting Group Ltd. will post 0.75 EPS for the current year.

Insider Buying and Selling at Bowman Consulting Group

In related news, Director Patricia Mulroy sold 883 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $42.37, for a total transaction of $37,412.71. Following the completion of the sale, the director directly owned 26,330 shares of the company’s stock, valued at approximately $1,115,602.10. This trade represents a 3.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 17.50% of the company’s stock.

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.