Summit Global Investments Reduces Holdings in Willdan Group, Inc. $WLDN

Summit Global Investments lowered its position in Willdan Group, Inc. (NASDAQ:WLDN) by 69.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,171 shares of the construction company’s stock after selling 11,854 shares during the quarter. Summit Global Investments’ holdings in Willdan Group were worth $500,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. AdvisorShares Investments LLC acquired a new position in shares of Willdan Group in the second quarter worth about $30,000. Private Trust Co. NA acquired a new position in shares of Willdan Group in the 3rd quarter valued at approximately $48,000. State of Alaska Department of Revenue purchased a new position in shares of Willdan Group during the 3rd quarter valued at approximately $75,000. Raymond James Financial Inc. acquired a new stake in shares of Willdan Group during the second quarter worth approximately $80,000. Finally, Ameritas Investment Partners Inc. grew its position in shares of Willdan Group by 15.6% during the second quarter. Ameritas Investment Partners Inc. now owns 1,419 shares of the construction company’s stock worth $89,000 after buying an additional 191 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Willdan Group Stock Performance

Shares of WLDN stock opened at $126.20 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.17. The business has a 50 day moving average of $113.57 and a two-hundred day moving average of $102.77. The company has a market cap of $1.86 billion, a P/E ratio of 45.40 and a beta of 0.96. Willdan Group, Inc. has a 52 week low of $30.43 and a 52 week high of $137.00.

Willdan Group (NASDAQ:WLDN) last released its quarterly earnings results on Thursday, November 6th. The construction company reported $1.21 EPS for the quarter, topping the consensus estimate of $0.81 by $0.40. The business had revenue of $94.97 million during the quarter, compared to analyst estimates of $164.00 million. Willdan Group had a net margin of 6.37% and a return on equity of 20.23%. As a group, analysts anticipate that Willdan Group, Inc. will post 1.82 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WLDN. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Willdan Group in a report on Monday, December 29th. Zacks Research downgraded shares of Willdan Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Wedbush upped their target price on shares of Willdan Group from $120.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. Wall Street Zen downgraded Willdan Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 11th. Finally, Compass Point set a $125.00 price objective on Willdan Group in a report on Friday, January 2nd. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $124.33.

About Willdan Group

Willdan Group, Inc provides energy efficiency, infrastructure engineering, and technical consulting services to a diverse range of public and private sector clients. The company works with utilities, municipalities, state and federal agencies, and commercial enterprises to design, implement, and manage programs that promote sustainable energy use, grid modernization, and resilient infrastructure. Willdan’s offerings span program design and implementation, energy audits, measurement and verification, and project management for both new construction and retrofit initiatives.

Core services include energy advisory and engineering solutions, including feasibility studies, facility commissioning and retro-commissioning, $0 down financing for energy projects, and demand response program development.