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Michael A. Bieber, President and CEO of Willdan Group , Inc. (NASDAQ:WLDN), an engineering services firm, has recently engaged in both purchasing and selling of the company's stock, as per the latest filings. On August 12, Bieber sold 750 shares at an average price of $36.46, totaling approximately $27,345.
The transactions took place in a series of sales with prices ranging from $36.41 to $36.49. These details come from a footnote in the filing, which also offers to provide full information regarding the number of shares sold at each separate price within the stated ranges upon request.
In addition to the sale, Bieber also acquired the same number of shares, 750, through the exercise of stock options at a price of $13.49 per share, amounting to a total of $10,117.50. It's noted that these stock options were part of the Willdan Group, Inc. Amended and Restated 2008 Performance Incentive Plan and had vested in several installments from 2015 to 2017.
Following these transactions, Bieber's direct ownership in the company includes shares that are subject to vesting conditions as outlined in the footnotes of the filing. Specifically, it includes 17,500 shares of restricted stock units and 8,867 shares of restricted stock, which are set to vest in installments over the next few years, contingent upon his continued service to Willdan Group.
Investors and followers of Willdan Group, Inc. can view these transactions as part of the normal course of stock ownership and management for executives within publicly traded companies. The sale and purchase of shares by company insiders are common and are often subject to planned schedules or strategic financial planning by the individuals involved.
In other recent news, Willdan Group Inc. has shown impressive financial performance and strategic growth initiatives. The company secured a $102 million energy project contract with the Clark County School District, promising substantial energy savings. This contract represents the second phase of energy efficiency projects that Willdan will undertake for the district. In addition to this, the company has also involved over 200 local subcontractors, a substantial proportion of whom are Minority- or Women-Owned Business Enterprises.
The company's recent second quarter results for the fiscal year 2024 have shown promising growth. Both GAAP and adjusted earnings per share more than doubled year-on-year, with an 18% organic increase in contract revenue and a 56% year-on-year growth in adjusted EBITDA. Following these robust results, Willdan Group revised its full-year financial targets upward.
Furthermore, Willdan Group has made significant strides in expanding its commercial work, especially in the data center market, securing major contracts with Meta (NASDAQ:META), the state of Virginia, and various utilities. The company is planning more aggressive investment, including potential mergers and acquisitions. These recent developments reflect a positive growth outlook for the company.
InvestingPro Insights
Willdan Group, Inc. (NASDAQ:WLDN) has been navigating through a dynamic market landscape, and recent activities by its President and CEO Michael A. Bieber have been a topic of interest for investors. To provide further context to the company's financial performance and future potential, let's delve into some key metrics and insights from InvestingPro.
The company's market capitalization stands at a robust 495.96 million USD, reflecting investor confidence and market valuation. Willdan Group's revenue growth has been notable, with the last twelve months as of Q2 2024 showing an increase of 20.94%, a clear indicator of the company's expanding business operations. This growth is further emphasized by a quarterly revenue growth of 18.41% in Q1 2024, underscoring the company's ability to scale effectively.
InvestingPro Tips highlight several positive aspects of Willdan Group's financial health. Notably, the company's net income is expected to grow this year, which is a promising sign for potential investors. Additionally, Willdan Group has demonstrated a high return over the last year, with a six-month price total return of an impressive 65.73%. This suggests that investors have recognized the company's value and potential for growth. It's also worth mentioning that Willdan Group operates with a moderate level of debt, which could provide a balance between leveraging opportunities for expansion and maintaining financial stability.
For those interested in deeper insights, InvestingPro offers additional tips on Willdan Group, Inc. These tips can provide more detailed analysis and forecasts, which are instrumental for informed investment decisions. As of now, there are six more InvestingPro Tips available, which can be accessed through the InvestingPro platform.
Finally, it's interesting to note that while Willdan Group does not pay a dividend, this could be indicative of the company's strategy to reinvest earnings back into the company to fuel further growth. With a fair value estimation of 37.48 USD by InvestingPro, compared to the previous close price of 36 USD, there appears to be a potential upside based on current market assessments.
Overall, the data and insights from InvestingPro paint a picture of a company with strong growth potential and a solid financial foundation. Investors may find these metrics particularly useful when considering the implications of insider transactions and the overall investment case for Willdan Group, Inc.
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