Willdan Group (NASDAQ:WLDN) Stock Price Up 6.6% - Here's What Happened

Willdan Group, Inc. (NASDAQ:WLDN - Get Free Report) was up 6.6% during trading on Thursday . The company traded as high as $72.30 and last traded at $72.27. Approximately 471,877 shares traded hands during trading, an increase of 208% from the average daily volume of 153,211 shares. The stock had previously closed at $67.82.

Wall Street Analysts Forecast Growth

WLDN has been the subject of several research reports. Wedbush raised shares of Willdan Group to a "strong-buy" rating in a research report on Monday, March 10th. Wall Street Zen lowered Willdan Group from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 19th.

Willdan Group Price Performance

The firm has a market capitalization of $1.07 billion, a P/E ratio of 43.62 and a beta of 1.25. The stock's fifty day simple moving average is $53.05 and its 200 day simple moving average is $42.88. 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 Activity

In other news, Director Thomas Donald Brisbin sold 22,459 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $52.34, for a total transaction of $1,175,504.06. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Creighton K. Early sold 5,000 shares of the business'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 transaction, the chief financial officer owned 72,071 shares in the company, valued at approximately $3,839,942.88. This trade represents a 6.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,000 shares of company stock worth $4,994,075. Insiders own 8.60% of the company's stock.

Hedge Funds Weigh In On Willdan Group

Several hedge funds and other institutional investors have recently modified their holdings of WLDN. Vanguard Group Inc. increased its stake in Willdan Group by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 774,212 shares of the construction company's stock valued at $31,526,000 after purchasing an additional 22,227 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of Willdan Group by 13.4% during the fourth 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 increased its position in shares of 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 acquiring an additional 49,217 shares during the period. Summit Creek Advisors LLC raised its stake in Willdan Group by 1.7% in the 4th quarter. Summit Creek Advisors LLC now owns 365,153 shares of the construction company's stock worth $13,909,000 after acquiring an additional 6,119 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Willdan Group by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 296,398 shares of the construction company's stock worth $11,293,000 after acquiring an additional 1,601 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

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.