IES (NASDAQ:IESC) Hits New 1-Year High – Here’s Why

Shares of IES Holdings, Inc. (NASDAQ:IESC) reached a new 52-week high during trading on Thursday . The stock traded as high as $780.00 and last traded at $747.49, with a volume of 448093 shares traded. The stock had previously closed at $710.54.

Analyst Ratings Changes

A number of equities research analysts have issued reports on IESC shares. Freedom Capital downgraded IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Wall Street Zen downgraded shares of IES from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of IES in a research note on Thursday, June 18th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $458.00.

IES Price Performance

The company’s 50 day simple moving average is $670.67 and its 200 day simple moving average is $532.36. The company has a market capitalization of $14.24 billion, a PE ratio of 38.13 and a beta of 1.78.

IES (NASDAQ:IESC) last released its quarterly earnings results on Friday, May 1st. The technology company reported $4.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.95 by $0.21. The firm had revenue of $974.20 million for the quarter, compared to the consensus estimate of $1.01 billion. IES had a return on equity of 33.97% and a net margin of 10.40%.

Insiders Place Their Bets

In other IES news, CFO Tracy Mclauchlin sold 3,000 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $662.61, for a total transaction of $1,987,830.00. Following the completion of the sale, the chief financial officer owned 62,525 shares of the company’s stock, valued at approximately $41,429,690.25. The trade was a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew J. Simmes sold 7,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $658.24, for a total transaction of $4,607,680.00. Following the completion of the sale, the chief executive officer owned 86,575 shares in the company, valued at approximately $56,987,128. This trade represents a 7.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 208,102 shares of company stock valued at $146,518,202. 56.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On IES

A number of institutional investors and hedge funds have recently bought and sold shares of IESC. First Trust Advisors LP raised its position in IES by 982.7% during the third quarter. First Trust Advisors LP now owns 323,893 shares of the technology company’s stock valued at $128,796,000 after buying an additional 293,977 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in IES by 324,337.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 120,042 shares of the technology company’s stock valued at $46,699,000 after buying an additional 120,005 shares in the last quarter. Norges Bank bought a new stake in IES during the fourth quarter worth approximately $40,578,000. Parsifal Capital Management LP acquired a new position in IES in the 3rd quarter valued at $25,768,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of IES by 25.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 164,722 shares of the technology company’s stock worth $64,080,000 after purchasing an additional 33,273 shares during the period. 86.60% of the stock is owned by institutional investors and hedge funds.

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.