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Willdan Group (WLDN) Rose on Management’s Positive Outlook

Soumya Eswaran
·3 min read

Conestoga Capital Advisors, an asset management company, released its “Micro-Cap Strategy” first-quarter 2024 investor letter. A copy of the letter can be downloaded here. Investors are optimistic about the US economy which is heading for a softer landing, and moderating inflation. In the first quarter, the strategy rose 4.93% net-of-fees but trailed the Russell Micro Cap Growth Index’s return of 6.60%. Stock selection negatively impacted the performance but was partially offset by sector allocation. Stock selection in the Industrials and healthcare sectors detracted while Financials and Telecommunications sectors contributed. In addition, please check the fund’s top five holdings to know its best picks in 2024.

Conestoga Capital Advisors Micro-Cap Strategy highlighted stocks like Willdan Group, Inc. (NASDAQ:WLDN), in the first quarter 2024 investor letter. Willdan Group, Inc. (NASDAQ:WLDN), with a market capitalization of $435.377 million, offers professional, technical, and consulting services. One-month return of Willdan Group, Inc. (NASDAQ:WLDN) was 14.96%, and its shares gained 85.14% of their value over the last 52 weeks. On May 22, 2024, Willdan Group, Inc. (NASDAQ:WLDN) stock closed at $31.51 per share.

Conestoga Capital Advisors Micro-Cap Strategy stated the following regarding Willdan Group, Inc. (NASDAQ:WLDN) in its first quarter 2024 investor letter:

"Willdan Group, Inc. (NASDAQ:WLDN): WLDN provides technical and consulting services to utilities, private industry, and public agencies. WLDN’s fourth quarter’s performance was well above expectations, with strength coming from all areas of the business. WLDN is experiencing strong demand for its services, particularly from its energy and municipal customers. Management stated that the company’s backlog is at a record high level entering 2024, which bodes well for financial results for the upcoming year."

An engineer standing proudly in front of a high-rise building, a symbol of the company's excellence in construction.

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Willdan Group, Inc. (NASDAQ:WLDN) trailing 12 months revenue is $529.98 million. As per the recent earnings call, Willdan Group, Inc. (NASDAQ:WLDN) has a solid first quarter with revenue appreciated 19% organically year-over-year to $123 million.

Willdan Group, Inc. (NASDAQ:WLDN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 7 hedge fund portfolios held Willdan Group, Inc. (NASDAQ:WLDN) at the end of the first quarter which was 4 in the previous quarter.

Conestoga Capital Advisors commented on Willdan Group, Inc. (NASDAQ:WLDN) in the third quarter 2023 investor letter. Willdan Group, Inc.'s (NASDAQ:WLDN) consolidated revenue grew 16% in the third quarter. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.

If you are looking for an AI stock that is as promising as Microsoft but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.