Bowman consulting wins two new assignments in Colorado project

RESTON, Va. - Bowman Consulting Group Ltd. (NASDAQ:BWMN), a $600 million market cap engineering firm currently trading below InvestingPro's Fair Value estimate, has secured two new assignments with the Aerotropolis Area Coordinating Metropolitan District in Aurora, Colorado, according to a press release statement issued Tuesday.

The engineering services firm will undertake roadway design, traffic signal engineering, landscape architecture and project management for a one-mile, four-lane roadway extension as part of one assignment. The second project involves site planning, civil engineering, landscape architecture and construction documentation for a 154-unit residential duplex neighborhood.

Both assignments expand Bowman's role in The Aurora Highlands master-planned community, with work beginning immediately.

Gary Bowman, founder and CEO, said the company's "breadth of capabilities" allows it to capture more assignments at The Aurora Highlands project.

Bowman's relationship with the District began in June 2024 and has resulted in more than 20 assignments across multiple service lines. The company serves as program manager and lead designer for infrastructure valued at more than $500 million at the development.

The Reston, Virginia-based firm employs over 2,500 people across more than 100 locations throughout the United States, providing engineering, construction management, environmental consulting and other technical services to various regulated markets.

In other recent news, Bowman Consulting Group Ltd. announced the acquisition of Lazen Power Engineering, a Florida-based firm specializing in high-voltage transmission line infrastructure design. This acquisition enhances Bowman's capabilities in utility design and maintenance. Additionally, Bowman acquired Sierra Overhead Analytics and its technology affiliate ORCaS, Inc., expanding its expertise in data center development, climate resiliency, utilities, power, and alternative energy markets.

Bowman has also secured a contract for the redevelopment of the West End Container Yard at Barbours Cut Terminal in the Port of Houston. This project is part of a larger $650 million capital improvement program. Furthermore, the Nebraska Department of Transportation awarded Bowman a two-year contract for statewide bridge evaluation services. This involves inspecting approximately 300 to 500 bridges across the state.

In analyst news, B.Riley raised its price target on Bowman Consulting Group to $55 from $43, maintaining a Buy rating. The firm highlighted Bowman's strong national reputation and ability to qualify for larger, more diverse projects. These developments reflect Bowman's strategic growth and expansion efforts in various sectors.

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