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

IES Holdings, Inc. (NASDAQ:IESC) shares reached a new 52-week high during trading on Monday . The stock traded as high as $692.25 and last traded at $690.66, with a volume of 68438 shares traded. The stock had previously closed at $666.70.

Analyst Upgrades and Downgrades

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

IES Stock Up 2.8%

The stock has a market cap of $13.65 billion, a P/E ratio of 36.54 and a beta of 1.81. The company’s 50 day moving average price is $511.80 and its two-hundred day moving average price is $456.24.

IES (NASDAQ:IESC) last announced its quarterly earnings data 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 company had revenue of $974.20 million for the quarter, compared to analysts’ expectations of $1.01 billion. IES had a return on equity of 33.97% and a net margin of 10.40%.

Insider Transactions at IES

In related news, Director Todd M. Cleveland sold 11,578 shares of the company’s stock in a transaction dated 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 directly owned 65,817 shares of the company’s stock, valued at $43,670,895.84. This represents a 14.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Jeffrey L. Et Al Gendell sold 40,103 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $677.19, for a total transaction of $27,157,350.57. Following the transaction, the chairman owned 10,547,058 shares in the company, valued at approximately $7,142,362,207.02. The trade was a 0.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 87,315 shares of company stock valued at $55,468,083. 56.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On IES

Large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of IES by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,904 shares of the technology company’s stock valued at $810,000 after purchasing an additional 223 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in IES by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,787 shares of the technology company’s stock valued at $3,762,000 after buying an additional 1,435 shares during the period. Prudential Financial Inc. bought a new position in IES in the second quarter worth approximately $365,000. Quantbot Technologies LP purchased a new stake in IES during the second quarter worth $89,000. Finally, Invesco Ltd. lifted its holdings in IES by 43.7% during the second quarter. Invesco Ltd. now owns 91,567 shares of the technology company’s stock worth $27,125,000 after buying an additional 27,849 shares during the period. 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.