News

Willdan Group, Inc. WLDN announced that it has been selected by the City of Paramount for a $12 million energy savings contract.

Per the contract, Willdan will offer services for water conservation, along with designing and installing electric vehicle (“EV”) fleet charging stations and photovoltaic systems across the City. The company has been assisting the City with civil engineering and financial planning projects for the past 50 years and this new contract expands the service portfolio toward energy and climate projects.

This new extended contract will highlight Willdan’s capabilities around sustainable solutions aimed at achieving energy efficiency goals and environmental objectives.

Following the announcement, shares of WLDN increased 4.3% during the trading hours on Mar 12.

Consistent Contract Wins Boost Growth

Willdan has been immensely benefiting from its consistent contract wins, which, in turn, are aiding its growth prospects. Since the third-quarter fiscal 2023earnings call the company made eight reportable contract wins, which expanded its backlog position while entering fiscal 2024.

Reportable wins include a $46 million Clark County School District contract for offering energy upgrades in one-third of its schools; a National Health Care Provider contract for offering decarbonization strategies for the building portfolio; $18 million Puget Sound Energy, and $16 million Consolidated Edison contracts. Furthermore, WLDN won a New England Utility Program contract worth $30-$50 million for energy efficiency and program management, making this the first large anchor program in New England.

Contract wins also include a Major Western Utility contract for grid planning software and services; a $6 million Yosemite Unified School District contract for EV charging and energy efficiency; and a Two Municipal Utilities contract for Grid planning software and services.

Image Source: Zacks Investment Research

Shares of this provider of professional, technical and consulting services have gained 23.1% in the past six months, outperforming the Zacks Engineering - R and D Services industry’s 17.6% growth. The company is optimistic about its growth prospects given its resilient business model and consistent contract wins.

Zacks Rank & Key Picks

Willdan currently carries a Zacks Rank #3 (Hold).

Here are some better-ranked stocks from the Construction sector.

Vulcan Materials Company VMC currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

VMC delivered a trailing four-quarter earnings surprise of 19.5%, on average. The stock has gained 25.4% in the past six months. The Zacks Consensus Estimate for VMC’s 2024 sales and earnings per share (EPS) indicates growth of 1.4% and 18.3%, respectively, from the prior-year levels.

Toll Brothers, Inc. TOL currently sports a Zacks Rank of 1. TOL delivered a trailing four-quarter earnings surprise of 30.2%, on average. The stock has gained 51.4% in the past six months.

The Zacks Consensus Estimate for TOL’s fiscal 2024 sales and EPS indicates growth of 0.6% and 11%, respectively, from a year ago.

Sterling Infrastructure, Inc. STRL presently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 20.4%, on average. Shares of STRL have increased 49.9% in the past six months.

The Zacks Consensus Estimate for STRL’s 2024 sales and EPS indicates a rise of 11.7% and 11.4%, respectively, from the prior-year levels.

Zacks Names "Single Best Pick to Double"

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.

This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.