IES (NASDAQ:IESC) Sets New 52-Week High – Still a Buy?

IES Holdings, Inc. (NASDAQ:IESC)’s share price reached a new 52-week high on Monday . The company traded as high as $771.34 and last traded at $769.8050, with a volume of 405 shares traded. The stock had previously closed at $749.83.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Freedom Capital lowered shares of IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Wall Street Zen cut shares of IES from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $458.00.

IES Stock Down 0.9%

The stock’s 50-day moving average price is $628.83 and its 200-day moving average price is $511.62. The company has a market capitalization of $14.80 billion, a price-to-earnings ratio of 39.62 and a beta of 1.78.

IES (NASDAQ:IESC) last announced its quarterly earnings data on Friday, May 1st. The technology company reported $4.16 earnings per share for the quarter, beating the consensus estimate of $3.95 by $0.21. The business had revenue of $974.20 million for the quarter, compared to analyst estimates of $1.01 billion. IES had a net margin of 10.40% and a return on equity of 33.97%.

Insider Activity at IES

In other news, Director Todd M. Cleveland sold 11,578 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $663.52, for a total transaction of $7,682,234.56. Following the completion of the sale, the director owned 65,817 shares of the company’s stock, valued at $43,670,895.84. This represents a 14.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Tracy Mclauchlin sold 3,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $41,429,690.25. This trade represents a 4.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 156,382 shares of company stock worth $107,366,474 over the last three months. 56.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of IES by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,904 shares of the technology company’s stock worth $810,000 after buying an additional 223 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in 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 worth $3,762,000 after purchasing an additional 1,435 shares in the last quarter. Prudential Financial Inc. acquired a new stake in IES in the 2nd quarter worth about $365,000. Quantbot Technologies LP acquired a new stake in IES in the 2nd quarter worth about $89,000. Finally, Invesco Ltd. raised its stake in IES by 43.7% in the 2nd quarter. Invesco Ltd. now owns 91,567 shares of the technology company’s stock worth $27,125,000 after purchasing an additional 27,849 shares in the last quarter. Institutional investors own 86.60% of the company’s stock.

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.