Envestnet Asset Management Inc. Acquires 6,125 Shares of Willdan Group, Inc. (NASDAQ:WLDN)

Key Points

• Envestnet Asset Management Inc. increased its stake in Willdan Group, Inc. by 34.3% during the first quarter, now holding approximately 0.17% of the company valued at $977,000.
• A number of institutional investors, including Tower Research Capital LLC and GAMMA Investing LLC, have significantly boosted their holdings in Willdan Group, highlighting strong interest among institutional investors.
• Insiders at Willdan Group have sold 100,000 shares worth nearly $5 million in the past three months, indicating a notable decrease in insider ownership.

Envestnet Asset Management Inc. increased its stake in Willdan Group, Inc. (NASDAQ:WLDN - Free Report) by 34.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,002 shares of the construction company's stock after buying an additional 6,125 shares during the period. Envestnet Asset Management Inc. owned 0.17% of Willdan Group worth $977,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Concurrent Investment Advisors LLC purchased a new stake in Willdan Group during the 1st quarter valued at $276,000. Principal Financial Group Inc. boosted its stake in Willdan Group by 3.9% during the 1st quarter. Principal Financial Group Inc. now owns 8,526 shares of the construction company's stock valued at $347,000 after purchasing an additional 319 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Willdan Group by 77.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 158,401 shares of the construction company's stock valued at $6,468,000 after purchasing an additional 69,047 shares during the last quarter. Wilsey Asset Management Inc. purchased a new stake in Willdan Group during the 1st quarter valued at $213,000. Finally, GAMMA Investing LLC boosted its stake in Willdan Group by 1,809.7% during the 1st quarter. GAMMA Investing LLC now owns 2,158 shares of the construction company's stock valued at $88,000 after purchasing an additional 2,045 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company's stock.

Willdan Group Stock Performance

Shares of WLDN stock traded down $4.12 on Wednesday, reaching $87.08. The stock had a trading volume of 277,660 shares, compared to its average volume of 186,765. The stock has a market cap of $1.26 billion, a P/E ratio of 51.53 and a beta of 1.31. Willdan Group, Inc. has a 1 year low of $30.43 and a 1 year high of $92.76. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.61 and a current ratio of 1.61. The company has a 50 day simple moving average of $68.33 and a 200 day simple moving average of $49.31.

Analysts Set New Price Targets

Several analysts have commented on the company. Wedbush reiterated an "outperform" rating on shares of Willdan Group in a research note on Thursday, July 10th. Roth Capital restated a "buy" rating and issued a $103.00 price target (up from $62.00) on shares of Willdan Group in a research note on Tuesday.

Insider Buying and Selling

In related news, CEO Michael A. Bieber sold 25,000 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $48.11, for a total value of $1,202,750.00. Following the transaction, the chief executive officer directly owned 200,981 shares of the company's stock, valued at approximately $9,669,195.91. This trade represents a 11.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Creighton K. Early sold 5,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $53.28, for a total value of $266,400.00. Following the completion of the transaction, the chief financial officer directly owned 72,071 shares in the company, valued at approximately $3,839,942.88. This represents a 6.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,000 shares of company stock valued at $4,994,075 in the last 90 days. 8.60% of the stock is owned by company insiders.

Willdan Group Company Profile

Willdan Group, Inc, together with its subsidiaries, provides professional, technical, and consulting services primarily in the United States. It operates in two segments, Energy, and Engineering and Consulting. The Energy segment offers comprehensive audit and surveys, program design and implementation, master planning, demand reduction, grid optimization, benchmarking analyses, design engineering, construction management, performance contracting, installation, alternative financing, measurement and verification services, and software and data analytics, as well as energy consulting and engineering, turnkey facility and infrastructure projects, and customer support services.