IES (NASDAQ:IESC) Hits New 52-Week High – Here’s Why

IES Holdings, Inc. (NASDAQ:IESC) hit a new 52-week high on Tuesday . The company traded as high as $758.25 and last traded at $758.8360, with a volume of 7151 shares. The stock had previously closed at $734.91.

Analyst Ratings Changes

A number of brokerages recently weighed in on IESC. Freedom Capital lowered shares of IES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Wall Street Zen lowered shares of IES from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, IES presently has an average rating of “Moderate Buy” and an average target price of $458.00.

IES Trading Down 6.6%

The stock’s 50 day moving average price is $618.41 and its 200 day moving average price is $506.64. The company has a market capitalization of $13.51 billion, a price-to-earnings ratio of 36.17 and a beta of 1.78.

IES (NASDAQ:IESC) last posted its quarterly earnings data 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 net margin of 10.40% and a return on equity of 33.97%. The company had revenue of $974.20 million during the quarter, compared to the consensus estimate of $1.01 billion.

Insider Buying and Selling at IES

In other news, CFO Tracy Mclauchlin sold 3,000 shares of the 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 completion of the transaction, the chief financial officer directly owned 62,525 shares in the company, valued at $41,429,690.25. This represents a 4.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew J. Simmes sold 7,000 shares of the 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 transaction, the chief executive officer owned 86,575 shares of the company’s stock, valued at approximately $56,987,128. This represents a 7.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 156,382 shares of company stock valued at $107,366,474. Corporate insiders own 56.43% of the company’s stock.

Institutional Investors Weigh In On IES

Hedge funds have recently bought and sold shares of the company. Optiver Holding B.V. lifted its stake in IES by 62.5% in the 1st quarter. Optiver Holding B.V. now owns 52 shares of the technology company’s stock valued at $25,000 after purchasing an additional 20 shares during the last quarter. Parallel Advisors LLC lifted its stake in IES by 121.4% in the 1st quarter. Parallel Advisors LLC now owns 62 shares of the technology company’s stock valued at $30,000 after purchasing an additional 34 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in IES in the 4th quarter valued at about $38,000. Steward Partners Investment Advisory LLC lifted its stake in IES by 366.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company’s stock valued at $38,000 after purchasing an additional 77 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its stake in IES by 157.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 98 shares of the technology company’s stock valued at $39,000 after purchasing an additional 60 shares during the last quarter. 86.60% of the stock is currently owned by institutional investors and hedge funds.

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.