Michael Bieber, President and CEO of Willdan Group , Inc. (NASDAQ:WLDN), sold 1,804 shares of the company's common stock on November 6, 2024, at an average price of $45.86 per share, totaling approximately $82,731. This transaction was disclosed in a recent SEC filing.
In addition to the stock sale, Bieber also exercised stock options to acquire 1,804 shares at a price of $13.49 per share, with a total value of $24,335. Following these transactions, Bieber holds 173,654 shares directly. The filing also notes that his holdings include restricted stock units and shares that vest over the next few years, contingent upon his continued service with the company.
These transactions were part of Bieber's ongoing management of his equity holdings in Willdan Group, which provides engineering services.
In other recent news, Willdan Group has reported substantial growth in its third-quarter financials, with a 19% increase in contract revenue to $158 million. This positive performance has led to an upward revision of the company's full-year financial targets. Now, the company expects net revenue to be between $285 million and $295 million, with adjusted EBITDA projected to be between $52 million and $54 million.
In addition to these developments, Willdan Group has been awarded significant contracts, including a $103 million project with Clark County School District and a $9 million contract with the New York Power Authority. The company is also expanding its workforce to over 1,700 employees. Furthermore, the acquisition of Enica Engineering is expected to add $10 million in revenue by 2024.
The company's growth has been attributed to its focus on energy efficiency and decarbonization, particularly in key markets like California, Florida, and Texas. The enhancement of its LoadSEER software with AI capabilities is another strategic move to support future growth. Despite forecasting a $15 million revenue headwind and a $3 million adjusted EBITDA headwind in Q4 2024 comparisons, the company anticipates broad-based growth across its customer base with a strong Q4 expected, particularly in utility revenue.
InvestingPro Insights
To provide additional context to Michael Bieber's recent stock transactions, it's worth examining Willdan Group's current financial position and market performance. According to InvestingPro data, Willdan Group has a market capitalization of $617.4 million and has demonstrated strong financial performance recently.
The company's revenue growth is notable, with a 23.47% increase over the last twelve months as of Q3 2024, reaching $577.41 million. This growth trend is also reflected in the company's stock performance, with a remarkable 127.02% price total return over the past year.
InvestingPro Tips highlight that Willdan Group has been profitable over the last twelve months and is expected to maintain profitability this year. The company's P/E ratio of 26.22 suggests that investors are willing to pay a premium for its earnings, possibly due to growth expectations.
Another InvestingPro Tip indicates that Willdan Group operates with a moderate level of debt, which may provide financial flexibility for future growth initiatives. This could be particularly relevant given the company's recent strong performance and CEO Bieber's stock transactions.
For investors seeking a more comprehensive analysis, InvestingPro offers 8 additional tips for Willdan Group, providing a deeper understanding of the company's financial health and market position.
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