Willdan Group (NASDAQ:WLDN) Reaches New 12-Month High - Time to Buy?

Key Points

• Willdan Group reached a new 52-week high of $86.74 amid strong trading activity, indicating increased investor interest.
• Analysts at Wedbush have maintained an "outperform" rating on the stock, reflecting positive sentiment in the market.
• Insider trading activity showed significant sales, with shares sold by key executives, suggesting a decline in insider ownership, which could impact market perceptions.

Willdan Group, Inc. (NASDAQ:WLDN - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $86.55 and last traded at $86.74, with a volume of 65408 shares changing hands. The stock had previously closed at $84.01.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Wedbush reaffirmed an "outperform" rating on shares of Willdan Group in a report on Thursday, July 10th. Roth Capital reaffirmed a "buy" rating and set a $103.00 price objective (up from $62.00) on shares of Willdan Group in a report on Tuesday.

Willdan Group Trading Down 3.0%

The company's fifty day simple moving average is $68.33 and its 200-day simple moving average is $49.31. The firm has a market capitalization of $1.28 billion, a PE ratio of 52.51 and a beta of 1.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.61 and a quick ratio of 1.61.

Insider Buying and Selling at Willdan Group

In other news, CEO Michael A. Bieber sold 25,000 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $48.11, for a total value of $1,202,750.00. Following the completion of the sale, the chief executive officer directly owned 200,981 shares in the company, valued at $9,669,195.91. This represents a 11.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Micah Chen sold 10,000 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $50.50, for a total transaction of $505,000.00. Following the sale, the vice president owned 38,502 shares of the company's stock, valued at approximately $1,944,351. The trade was a 20.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,000 shares of company stock valued at $4,994,075 over the last ninety days. 8.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Willdan Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in Willdan Group by 77.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 158,401 shares of the construction company's stock worth $6,468,000 after purchasing an additional 69,047 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Willdan Group by 136.0% during the fourth quarter. Nuveen Asset Management LLC now owns 208,059 shares of the construction company's stock valued at $7,925,000 after acquiring an additional 119,888 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of Willdan Group by 193.1% during the first quarter. Meeder Asset Management Inc. now owns 9,627 shares of the construction company's stock valued at $392,000 after acquiring an additional 6,342 shares during the last quarter. Deutsche Bank AG increased its position in shares of Willdan Group by 358.0% during the fourth quarter. Deutsche Bank AG now owns 34,935 shares of the construction company's stock valued at $1,331,000 after acquiring an additional 27,308 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Willdan Group by 21.4% during the first quarter. Victory Capital Management Inc. now owns 36,249 shares of the construction company's stock valued at $1,476,000 after acquiring an additional 6,399 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

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.