Wedbush Increases Willdan Group (NASDAQ:WLDN) Price Target to $35.00

Willdan Group (NASDAQ:WLDN) had its target price lifted by Wedbush from $30.00 to $35.00 in a report issued on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the construction company’s stock. Wedbush also issued estimates for Willdan Group’s Q3 2024 earnings at $0.45 EPS.

Several other brokerages have also recently commented on WLDN. Roth Mkm reissued a buy rating and set a $34.00 price target (up from $27.00) on shares of Willdan Group in a research report on Friday, March 22nd. StockNews.com cut Willdan Group from a strong-buy rating to a buy rating in a research report on Saturday, March 16th.

Willdan Group Stock Performance

Shares of NASDAQ WLDN opened at $28.99 on Monday. The stock has a 50 day moving average price of $22.35 and a 200 day moving average price of $20.76. Willdan Group has a 52 week low of $13.86 and a 52 week high of $30.46. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.67 and a current ratio of 1.67. The stock has a market capitalization of $399.19 million, a PE ratio of 36.70 and a beta of 1.45.

Willdan Group (NASDAQ:WLDN) last issued its quarterly earnings results on Thursday, March 7th. The construction company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.35 by $0.37. Willdan Group had a return on equity of 10.17% and a net margin of 2.14%. The firm had revenue of $155.68 million during the quarter, compared to analysts’ expectations of $160.00 million. During the same period in the prior year, the firm posted $0.25 earnings per share. Analysts predict that Willdan Group will post 1.5 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Fund L.P. Forager sold 10,456 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $29.83, for a total value of $311,902.48. Following the completion of the sale, the insider now directly owns 1,900,057 shares of the company’s stock, valued at $56,678,700.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 10.60% of the company’s stock.

Institutional Trading of Willdan Group

Several hedge funds have recently added to or reduced their stakes in the company. Amundi lifted its holdings in Willdan Group by 6.7% during the 4th quarter. Amundi now owns 1,690,216 shares of the construction company’s stock worth $30,264,000 after purchasing an additional 105,723 shares during the last quarter. BlackRock Inc. lifted its holdings in Willdan Group by 11.1% during the 2nd quarter. BlackRock Inc. now owns 826,719 shares of the construction company’s stock worth $15,840,000 after purchasing an additional 82,664 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Willdan Group by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 647,048 shares of the construction company’s stock worth $13,912,000 after purchasing an additional 10,900 shares during the last quarter. Rice Hall James & Associates LLC lifted its holdings in Willdan Group by 0.4% during the 1st quarter. Rice Hall James & Associates LLC now owns 519,443 shares of the construction company’s stock worth $15,942,000 after purchasing an additional 2,175 shares during the last quarter. Finally, Summit Creek Advisors LLC lifted its holdings in Willdan Group by 0.4% during the 3rd quarter. Summit Creek Advisors LLC now owns 382,803 shares of the construction company’s stock worth $7,821,000 after purchasing an additional 1,587 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

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.