IES (NASDAQ:IESC) Sets New 52-Week High – Here’s What Happened

IES Holdings, Inc. (NASDAQ:IESC) shares reached a new 52-week high during trading on Monday . The company traded as high as $488.98 and last traded at $489.9550, with a volume of 52100 shares changing hands. The stock had previously closed at $455.88.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on IESC shares. Loop Capital set a $458.00 target price on IES in a report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IES in a research report on Monday, December 22nd. Finally, Wall Street Zen cut shares of IES from a “strong-buy” rating to a “buy” rating in a research report on Saturday. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $458.00.

IES Stock Up 7.4%

The company’s fifty day moving average price is $427.07 and its 200-day moving average price is $391.65. The stock has a market capitalization of $9.76 billion, a PE ratio of 29.12 and a beta of 1.72.

IES (NASDAQ:IESC) last posted its quarterly earnings results on Friday, January 30th. The technology company reported $3.71 earnings per share for the quarter, missing the consensus estimate of $3.94 by ($0.23). IES had a return on equity of 35.62% and a net margin of 9.70%.The company had revenue of $870.96 million during the quarter, compared to analysts’ expectations of $876.00 million.

Insider Activity

In related news, CFO Tracy Mclauchlin sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $411.48, for a total transaction of $2,057,400.00. Following the completion of the sale, the chief financial officer owned 65,525 shares of the company’s stock, valued at $26,962,227. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Jeffrey L. Et Al Gendell sold 76,400 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $473.25, for a total value of $36,156,300.00. Following the completion of the transaction, the chairman directly owned 10,595,320 shares in the company, valued at $5,014,235,190. This trade represents a 0.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 217,661 shares of company stock valued at $96,387,385. 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 modified their holdings of 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. Pertento Partners LLP purchased a new stake in IES in the 2nd quarter worth $46,916,000. Northwestern Mutual Wealth Management Co. boosted its stake 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 during the last quarter. SG Capital Management LLC purchased a new position in shares of IES in the third quarter valued at $38,609,000. Finally, Parsifal Capital Management LP bought a new stake in shares of IES in the 3rd quarter worth about $25,768,000. 86.60% of the stock is owned by institutional investors.

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.