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

IES Holdings, Inc. (NASDAQ:IESC) shares reached a new 52-week high on Thursday . The stock traded as high as $809.33 and last traded at $806.0550, with a volume of 16560 shares traded. The stock had previously closed at $784.03.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on IESC shares. Wall Street Zen raised IES from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Freedom Capital lowered IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings reissued 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 given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $458.00.

IES Stock Performance

The firm’s 50 day simple moving average is $679.24 and its 200-day simple moving average is $578.66. The company has a market capitalization of $15.63 billion, a price-to-earnings ratio of 34.83 and a beta of 1.79.

Shares of IES are set to split on Monday, August 24th. The 2-1 split was announced on Friday, July 31st. The newly issued shares will be distributed to shareholders after the closing bell on Friday, August 21st.

IES (NASDAQ:IESC) last issued its earnings results on Friday, July 31st. The technology company reported $6.70 EPS for the quarter, topping the consensus estimate of $4.83 by $1.87. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.08 billion. IES had a return on equity of 35.70% and a net margin of 11.40%.

Insider Activity

In other IES news, Director Todd M. Cleveland sold 11,578 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $663.52, for a total value of $7,682,234.56. Following the completion of the sale, the director owned 65,817 shares in the company, valued at $43,670,895.84. This represents a 14.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $756.47, for a total transaction of $35,342,278.40. Following the transaction, the chairman owned 10,406,559 shares in the company, valued at approximately $7,872,249,686.73. This represents a 0.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 160,076 shares of company stock worth $114,124,105 in the last 90 days. Company insiders own 56.43% of the company’s stock.

Hedge Funds Weigh In On IES

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IESC. Northwestern Mutual Wealth Management Co. raised its stake in shares of IES by 324,337.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 120,042 shares of the technology company’s stock valued at $46,699,000 after acquiring an additional 120,005 shares in the last quarter. Norges Bank acquired a new position in IES during the fourth quarter valued at approximately $40,578,000. First Trust Advisors LP lifted its stake in shares of IES by 40.4% in the first quarter. First Trust Advisors LP now owns 349,163 shares of the technology company’s stock worth $166,366,000 after buying an additional 100,425 shares during the last quarter. Parsifal Capital Management LP bought a new stake in shares of IES during the 3rd quarter worth $25,768,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in IES by 25.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 164,722 shares of the technology company’s stock valued at $64,080,000 after buying an additional 33,273 shares during the last quarter. 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.