IES (NASDAQ:IESC) Hits New 1-Year High – Still a Buy?

IES Holdings, Inc. (NASDAQ:IESC) shares hit a new 52-week high on Tuesday . The stock traded as high as $705.00 and last traded at $700.69, with a volume of 35815 shares trading hands. The stock had previously closed at $659.65.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Loop Capital set a $458.00 price objective on IES in a report on Tuesday, February 3rd. Freedom Capital cut shares of IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen cut shares of IES from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $458.00.

IES Stock Up 5.8%

The stock has a market cap of $13.91 billion, a price-to-earnings ratio of 37.21 and a beta of 1.81. The company’s 50-day simple moving average is $559.50 and its 200-day simple moving average is $479.06.

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 firm had revenue of $974.20 million during the quarter, compared to analyst estimates of $1.01 billion.

Insider Activity

In related news, CEO Matthew J. Simmes sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $658.24, for a total value of $4,607,680.00. Following the completion of the transaction, the chief executive officer owned 86,575 shares of the company’s stock, valued at approximately $56,987,128. This trade represents a 7.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Tracy Mclauchlin sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was 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 of the company’s stock, valued at $41,429,690.25. This represents a 4.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 131,336 shares of company stock worth $88,246,972. Company insiders own 56.43% of the company’s stock.

Hedge Funds Weigh In On IES

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of IES by 4.8% in the 1st 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of IES by 6.7% in the 1st 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 purchasing an additional 1,435 shares during the last quarter. Prudential Financial Inc. acquired a new stake in shares of IES in the 2nd quarter valued at $365,000. Quantbot Technologies LP acquired a new stake in shares of IES in the 2nd quarter valued at $89,000. Finally, Invesco Ltd. lifted its stake in shares of IES by 43.7% in the 2nd quarter. Invesco Ltd. now owns 91,567 shares of the technology company’s stock valued at $27,125,000 after purchasing an additional 27,849 shares during the last quarter. 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.