Polen Capital, an investment management company, released its “Polen U.S. Small Company Growth Strategy” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund delivered 10.46% gross and 10.22% net of fees compared to a 12.75% return for the Russell 2000 Growth Index. The firm views the performance in many respects as evidence of the stability of its investment approach in the face of frequent and significant market swings. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Polen U.S. Small Company Growth Strategy featured stocks such as Bowman Consulting Group Ltd. (NASDAQ:BWMN) in the Q4 2023 investor letter. Headquartered in Reston, Virginia, Bowman Consulting Group Ltd. (NASDAQ:BWMN) is a professional service firm that provides real estate, energy, infrastructure, and environmental management solutions. On February 20, 2024, Bowman Consulting Group Ltd. (NASDAQ:BWMN) stock closed at $34.95 per share. One-month return of Bowman Consulting Group Ltd. (NASDAQ:BWMN) was 12.45%, and its shares gained 28.02% of their value over the last 52 weeks. Bowman Consulting Group Ltd. (NASDAQ:BWMN) has a market capitalization of $511.969 million.
Polen U.S. Small Company Growth Strategy stated the following regarding Bowman Consulting Group Ltd. (NASDAQ:BWMN) in its fourth quarter 2023 investor letter:
“Bowman Consulting Group Ltd. (NASDAQ:BWMN) is an engineering consulting business that serves diverse end markets including infrastructure, energy, real estate, residential and industrial. The engineering consulting industry is fragmented. There are several large players, but their cumulative market share is relatively low given the many small players in the industry. We believe Bowman has a unique position in the market as one of the few mid-sized players that still has a long runway of growth from rolling up smaller firms. Bowman has a long track record of acquiring small firms at attractive valuations and solid return on investment—firms that are too small to be meaningful for larger players. Importantly, Bowman has consistently improved its business, diversifying its project type and industry exposure, winning larger and longer contracts, and increasing cross-sell and scope of services. Overall, we expect Bowman to grow earnings at a mid-teens rate through a combination of organic growth, acquisitions and modest margin expansion.”
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Bowman Consulting Group Ltd. (NASDAQ:BWMN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Bowman Consulting Group Ltd. (NASDAQ:BWMN) was held by 5 hedge fund portfolios, up from 4 in the previous quarter, according to our database. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
