Willdan Group (NASDAQ:WLDN) Hits New 12-Month High Following Analyst Upgrade

Key Points

• The stock of Willdan Group (NASDAQ:WLDN) reached a new 52-week high of $115.00 after Wedbush upgraded its price target from $85.00 to $120.00, maintaining an outperform rating.
• Insider sales include the Director Thomas Brisbin selling 22,459 shares for over $1.17 million, indicating a 5.05% decrease in their ownership position.
• Institutional investors have increased their stake in Willdan Group, with Vanguard Group increasing its holdings by 3.0% and other funds also adding shares in the last quarter.

Willdan Group, Inc. (NASDAQ:WLDN - Get Free Report) hit a new 52-week high on Monday after Wedbush raised their price target on the stock from $85.00 to $120.00. Wedbush currently has an outperform rating on the stock. Willdan Group traded as high as $115.00 and last traded at $114.24, with a volume of 3632 shares. The stock had previously closed at $113.65.

Separately, Roth Capital reaffirmed a "buy" rating and issued a $103.00 target price (up from $62.00) on shares of Willdan Group in a research report on Tuesday, August 5th.

Insider Buying and Selling

In related news, Director Thomas Donald Brisbin sold 22,459 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $52.34, for a total value of $1,175,504.06. Following the completion of the sale, the director directly owned 422,454 shares of the company's stock, valued at approximately $22,111,242.36. This represents a 5.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Creighton K. Early sold 5,000 shares of the stock in a transaction dated 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 sale, the chief financial officer directly owned 72,071 shares of the company's stock, 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. Over the last quarter, insiders have sold 100,000 shares of company stock worth $4,994,075. Company insiders own 8.60% of the company's stock.

Institutional Investors Weigh In On Willdan Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Willdan Group by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 774,212 shares of the construction company's stock valued at $31,526,000 after buying an additional 22,227 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in Willdan Group by 13.4% in the 4th quarter. Lord Abbett & CO. LLC now owns 432,135 shares of the construction company's stock valued at $16,460,000 after buying an additional 51,003 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Willdan Group by 13.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 419,319 shares of the construction company's stock valued at $15,972,000 after buying an additional 49,217 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Willdan Group by 10.3% during the 2nd quarter. Geode Capital Management LLC now owns 336,752 shares of the construction company's stock worth $21,054,000 after purchasing an additional 31,561 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Willdan Group during the 1st quarter worth approximately $10,313,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Willdan Group Price Performance

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 firm has a market cap of $1.64 billion, a P/E ratio of 47.35 and a beta of 1.31. The company has a 50-day moving average of $70.91 and a 200 day moving average of $50.62.

About Willdan Group

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.

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