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

IES Holdings, Inc. (NASDAQ:IESC)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $705.00 and last traded at $700.69, with a volume of 35815 shares trading hands. The stock had previously closed at $659.65.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IESC. Freedom Capital lowered IES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Wall Street Zen lowered IES from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Finally, Loop Capital set a $458.00 price target on IES in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, IES currently has a consensus rating of “Moderate Buy” and a consensus price target of $458.00.

IES Price Performance

The stock has a 50-day moving average price of $559.50 and a 200 day moving average price of $479.06. The firm has a market cap of $13.91 billion, a price-to-earnings ratio of 37.21 and a beta of 1.81.

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

Insider Transactions at IES

In other news, CEO Matthew J. Simmes sold 7,000 shares of IES stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $658.24, for a total transaction of $4,607,680.00. Following the sale, the chief executive officer owned 86,575 shares in the company, valued at approximately $56,987,128. The trade was a 7.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Tracy Mclauchlin sold 3,000 shares of IES stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $662.61, for a total value of $1,987,830.00. Following the sale, the chief financial officer owned 62,525 shares in the company, valued at $41,429,690.25. This trade represents a 4.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 131,336 shares of company stock worth $88,246,972 over the last three months. 56.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On IES

Institutional investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. increased its position in IES by 60.5% in the 3rd quarter. Alps Advisors Inc. now owns 5,726 shares of the technology company’s stock valued at $2,277,000 after acquiring an additional 2,159 shares during the period. AltraVue Capital LLC boosted its stake in shares of IES by 2.1% during the 3rd quarter. AltraVue Capital LLC now owns 166,267 shares of the technology company’s stock worth $66,116,000 after acquiring an additional 3,370 shares in the last quarter. Dakota Wealth Management purchased a new stake in shares of IES during the 4th quarter worth approximately $1,018,000. RFG Advisory LLC purchased a new stake in shares of IES during the 3rd quarter worth approximately $944,000. Finally, First Trust Advisors LP lifted its stake 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 buying an additional 293,977 shares in the last quarter. Institutional investors and hedge funds 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.