IES (NASDAQ:IESC) Hits New 12-Month High – What’s Next?

IES Holdings, Inc. (NASDAQ:IESC)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $771.34 and last traded at $769.8050, with a volume of 405 shares changing hands. The stock had previously closed at $749.83.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on IESC shares. Wall Street Zen lowered shares of IES from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Freedom Capital cut shares of IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $458.00.

IES Stock Down 0.9%

The firm has a market capitalization of $14.80 billion, a P/E ratio of 39.62 and a beta of 1.78. The company’s 50 day moving average is $628.83 and its 200-day moving average is $511.62.

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

Insider Activity

In related news, Director Todd M. Cleveland sold 11,578 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $663.52, for a total transaction of $7,682,234.56. Following the transaction, the director directly owned 65,817 shares of the company’s stock, valued at $43,670,895.84. This trade represents a 14.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Tracy Mclauchlin sold 3,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $662.61, for a total transaction of $1,987,830.00. Following the transaction, the chief financial officer directly owned 62,525 shares in the company, valued at $41,429,690.25. The trade was a 4.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 156,382 shares of company stock valued at $107,366,474 over the last ninety days. Company insiders own 56.43% of the company’s stock.

Institutional Trading of IES

Several hedge funds have recently added to or reduced their stakes in IESC. First Trust Advisors LP raised its position in IES by 982.7% in the third quarter. First Trust Advisors LP now owns 323,893 shares of the technology company’s stock worth $128,796,000 after acquiring an additional 293,977 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of IES by 324,337.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 120,042 shares of the technology company’s stock worth $46,699,000 after purchasing an additional 120,005 shares in the last quarter. Norges Bank purchased a new position in shares of IES in the fourth quarter worth about $40,578,000. SG Capital Management LLC purchased a new position in shares of IES in the third quarter worth about $38,609,000. Finally, Parsifal Capital Management LP bought a new stake in shares of IES during the third quarter valued at about $25,768,000. Institutional investors own 86.60% of the company’s stock.

IES Company Profile

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.