IES (NASDAQ:IESC) Sets New 1-Year High – Still a Buy?

IES Holdings, Inc. (NASDAQ:IESC)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $556.98 and last traded at $553.28, with a volume of 164394 shares changing hands. The stock had previously closed at $537.58.

Analyst Upgrades and Downgrades

IESC has been the subject of several research analyst reports. Wall Street Zen cut shares of IES from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. Weiss Ratings restated a “buy (b)” rating on shares of IES in a report on Monday, December 22nd. Finally, Loop Capital set a $458.00 target price on shares of IES in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $458.00.

IES Trading Up 2.9%

The firm’s fifty day moving average price is $488.31 and its 200-day moving average price is $438.80. The firm has a market cap of $11.03 billion, a price-to-earnings ratio of 32.91 and a beta of 1.67.

IES (NASDAQ:IESC) last released its quarterly earnings results on Friday, January 30th. The technology company reported $3.71 EPS for the quarter, missing the consensus estimate of $3.94 by ($0.23). IES had a net margin of 9.70% and a return on equity of 35.62%. The business had revenue of $870.96 million during the quarter, compared to analysts’ expectations of $876.00 million.

Insider Activity at IES

In related news, Chairman Jeffrey L. Et Al Gendell sold 320 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $520.43, for a total value of $166,537.60. Following the completion of the sale, the chairman owned 10,587,161 shares in the company, valued at $5,509,876,199.23. This represents a 0.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Todd M. Cleveland sold 1,425 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $500.84, for a total transaction of $713,697.00. Following the completion of the sale, the director owned 78,089 shares of the company’s stock, valued at approximately $39,110,094.76. This trade represents a 1.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 20,659 shares of company stock worth $10,636,940 in the last 90 days. 56.43% of the stock is owned by insiders.

Institutional Trading of IES

Several institutional investors and hedge funds have recently bought and sold shares of the business. First Trust Advisors LP raised its position in IES by 982.7% in the 3rd quarter. First Trust Advisors LP now owns 323,893 shares of the technology company’s stock valued at $128,796,000 after purchasing an additional 293,977 shares during the last quarter. Geode Capital Management LLC raised its position in IES by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 274,725 shares of the technology company’s stock valued at $106,887,000 after purchasing an additional 6,349 shares during the last quarter. Pertento Partners LLP raised its position in IES by 17.1% in the 4th quarter. Pertento Partners LLP now owns 209,351 shares of the technology company’s stock valued at $81,442,000 after purchasing an additional 30,583 shares during the last quarter. State Street Corp raised its position in IES by 1.2% in the 4th quarter. State Street Corp now owns 205,905 shares of the technology company’s stock valued at $80,101,000 after purchasing an additional 2,517 shares during the last quarter. Finally, Morgan Stanley raised its position in IES by 7.7% in the 4th quarter. Morgan Stanley now owns 171,488 shares of the technology company’s stock valued at $66,713,000 after purchasing an additional 12,232 shares during the last quarter. Hedge funds and other institutional investors own 86.60% of the company’s stock.

About IES

IES Holdings, Inc (NASDAQ: IESC) is a specialty contractor providing integrated electrical and mechanical construction services, engineering, and systems integration across North America. The company focuses on delivering end-to-end solutions for commercial, industrial and mission-critical facilities, combining design, build, commission and maintenance capabilities to serve a wide range of markets.

Through its subsidiaries, IES offers a comprehensive portfolio of services including electrical distribution and infrastructure, mechanical contracting, process piping, controls and automation, energy management, and ongoing service and maintenance.