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

IES Holdings, Inc. (NASDAQ:IESC)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $809.33 and last traded at $806.0550, with a volume of 16560 shares trading hands. The stock had previously closed at $784.03.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on IESC shares. Weiss Ratings reiterated a “buy (b)” rating on shares of IES in a report on Thursday, June 18th. Wall Street Zen upgraded IES from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Finally, Freedom Capital cut IES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $458.00.

IES Stock Performance

The business’s fifty day simple moving average is $682.32 and its 200 day simple moving average is $582.10. The stock has a market cap of $15.19 billion, a price-to-earnings ratio of 33.88 and a beta of 1.79.

Shares of IES are scheduled to split on the morning of Monday, August 24th. The 2-1 split was announced on Friday, July 31st. The newly created shares will be distributed to shareholders after the market closes on Friday, August 21st.

IES (NASDAQ:IESC) last announced its earnings results on Friday, July 31st. The technology company reported $6.70 earnings per share for the quarter, beating the consensus estimate of $4.83 by $1.87. IES had a return on equity of 35.70% and a net margin of 11.40%.The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.08 billion.

Insider Buying and Selling

In other news, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $756.47, for a total transaction of $35,342,278.40. Following the completion of the sale, the chairman owned 10,406,559 shares of the company’s stock, valued at approximately $7,872,249,686.73. This trade represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Todd M. Cleveland sold 5,000 shares of IES stock in a transaction on Friday, June 12th. The stock was sold at an average price of $761.89, for a total transaction of $3,809,450.00. Following the completion of the sale, the director owned 60,874 shares of the company’s stock, valued at approximately $46,379,291.86. This trade represents a 7.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 138,446 shares of company stock valued at $99,699,230. 56.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of IES during the second quarter worth about $649,086,000. First Trust Advisors LP increased its holdings in IES by 40.4% in the first quarter. First Trust Advisors LP now owns 349,163 shares of the technology company’s stock valued at $166,366,000 after buying an additional 100,425 shares during the last quarter. Geode Capital Management LLC raised its stake in IES by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 274,725 shares of the technology company’s stock valued at $106,887,000 after buying an additional 6,349 shares in the last quarter. Pertento Partners LLP raised its stake in IES by 17.1% during the fourth quarter. Pertento Partners LLP now owns 209,351 shares of the technology company’s stock valued at $81,442,000 after buying an additional 30,583 shares in the last quarter. Finally, State Street Corp lifted its holdings in IES by 1.2% during the 4th quarter. State Street Corp now owns 205,905 shares of the technology company’s stock worth $80,101,000 after buying an additional 2,517 shares during the last quarter. 86.60% of the stock is owned by institutional investors and hedge funds.

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.