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

IES Holdings, Inc. (NASDAQ:IESC) reached a new 52-week high during trading on Wednesday . The stock traded as high as $546.34 and last traded at $544.14, with a volume of 199432 shares. The stock had previously closed at $539.46.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IESC shares. Loop Capital set a $458.00 target price on IES in a research note on Tuesday, February 3rd. Wall Street Zen cut IES from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of IES in a research note on Monday, December 22nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $458.00.

IES Stock Down 8.7%

The stock has a 50 day simple moving average of $485.40 and a 200 day simple moving average of $436.02. The stock has a market cap of $9.63 billion, a price-to-earnings ratio of 28.76 and a beta of 1.67.

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

Insider Buying and Selling at IES

In other IES news, Director Todd M. Cleveland sold 1,425 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $500.84, for a total value of $713,697.00. Following the completion of the sale, the director owned 78,089 shares of the company’s stock, valued at approximately $39,110,094.76. This trade represents a 1.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Matthew J. Simmes sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $506.26, for a total value of $2,531,300.00. Following the completion of the sale, the chief executive officer directly owned 93,575 shares of the company’s stock, valued at $47,373,279.50. This trade represents a 5.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 20,659 shares of company stock valued at $10,636,940. Company insiders own 56.43% of the company’s stock.

Institutional Investors Weigh In On IES

Hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC grew its stake in IES by 1,014.3% in the third quarter. Global Retirement Partners LLC now owns 78 shares of the technology company’s stock valued at $31,000 after acquiring an additional 71 shares during the period. SBI Securities Co. Ltd. boosted its position in shares of IES by 157.9% during the third quarter. SBI Securities Co. Ltd. now owns 98 shares of the technology company’s stock valued at $39,000 after buying an additional 60 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of IES during the fourth quarter valued at approximately $38,000. Steward Partners Investment Advisory LLC boosted its position in shares of IES by 366.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company’s stock valued at $38,000 after buying an additional 77 shares during the last quarter. Finally, Spire Wealth Management purchased a new position in shares of IES during the third quarter valued at approximately $40,000. Institutional investors and hedge funds 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.