Willdan Group , Inc. (NASDAQ:WLDN) Director Mohammad Shahidehpour has recently sold shares of the company's common stock, according to the latest SEC filings. The transaction, which took place on June 10, 2024, involved the sale of 3,000 shares at an average price of $30.83 per share, totaling approximately $92,490.
Investors tracking insider activity may note that the shares were sold in multiple transactions at prices ranging from $30.60 to $31.05. The reported weighted average price provides a general benchmark for the value exchanged during the sale. Following this transaction, Shahidehpour's remaining direct ownership in the company stands at 12,792 shares, which includes 1,793 shares of restricted stock set to vest on June 7, 2025.
Willdan Group, Inc., with its headquarters located in Anaheim, California, specializes in engineering services and has established itself in the industry under the SIC code 8711. The company's stock is publicly traded on the NASDAQ exchange under the ticker symbol WLDN.
For those interested in the specifics of the transaction or the exact prices at which the shares were sold within the reported range, Shahidehpour has committed to providing full details upon request to Willdan Group, Inc., any of its security holders, or the SEC staff.
This sale represents a notable transaction by a key insider of the company, and as always, investors and analysts may look to such activities for insights into the perspectives of those with intimate knowledge of the company. However, it is important to consider that insider transactions can occur for various reasons and may not always reflect the insider's outlook on the company's future performance.
In other recent news, Willdan Group Inc. has reported a robust growth in the first quarter of fiscal year 2024. The company's revenue saw a significant 19% increase to $123 million, while adjusted EBITDA rose by 12% to $11 million. Furthermore, the company experienced a substantial 56% increase in cash flow from operations, reaching $27 million. These developments indicate a strong performance in the government and utility segments, along with a notable increase in demand for services in the data center sector. The rise in electricity load from artificial intelligence processing has particularly driven this demand. Willdan Group Inc. maintains an optimistic stance about meeting its full-year financial targets and is actively exploring strategic acquisitions to enhance its capabilities. These are among the recent developments for the company, as it continues to expand its software and service offerings.
InvestingPro Insights
As Willdan Group, Inc. (NASDAQ:WLDN) navigates through the market, current data showcases an intriguing financial landscape for the company. With a market capitalization of $431.51 million and a trailing twelve months P/E ratio standing at 33.26, the company presents a valuation that suggests investor confidence. Adding to this, Willdan’s revenue has experienced a healthy growth of 20.48% over the last twelve months as of Q1 2024, indicating a robust expansion in its business operations.
InvestingPro Tips highlight that Willdan is anticipated to see net income growth this year, which could be a signal for potential investors looking at the company's future profitability. Moreover, the company has been trading at a high earnings multiple, which might imply a premium market valuation based on its earnings capacity. With a strong return of 19.13% over the last three months, investors may view Willdan as a company with positive momentum in the short term.
For those considering an in-depth analysis, InvestingPro offers additional tips on Willdan Group, Inc., providing a comprehensive look at the company's financial health and market performance. Use the exclusive coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and gain access to a total of 11 InvestingPro Tips that could further inform your investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.