IES (NASDAQ:IESC) Shares Up 10.5% – Here’s Why

IES Holdings, Inc. (NASDAQ:IESC) shares shot up 10.5% during mid-day trading on Friday . The stock traded as high as $534.00 and last traded at $534.0040. 106,800 shares changed hands during trading, a decline of 47% from the average session volume of 202,940 shares. The stock had previously closed at $483.38.

Analyst Upgrades and Downgrades

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

IES Price Performance

The stock’s 50 day moving average is $485.40 and its two-hundred day moving average is $436.02. The stock has a market capitalization of $10.71 billion, a PE ratio of 31.98 and a beta of 1.67.

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

Insider Buying and Selling

In other IES news, Director Todd M. Cleveland sold 3,119 shares of IES stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $511.81, for a total transaction of $1,596,335.39. Following the completion of the sale, the director directly owned 82,517 shares of the company’s stock, valued at $42,233,025.77. The trade was a 3.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew J. Simmes sold 5,000 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $506.26, for a total value of $2,531,300.00. Following the transaction, the chief executive officer directly owned 93,575 shares of the company’s stock, valued at approximately $47,373,279.50. This represents a 5.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 20,659 shares of company stock worth $10,636,940. Corporate insiders own 56.43% of the company’s stock.

Institutional Investors Weigh In On IES

Several institutional investors have recently added to or reduced their stakes in IESC. Global Retirement Partners LLC lifted its stake in IES by 1,014.3% during the third quarter. Global Retirement Partners LLC now owns 78 shares of the technology company’s stock worth $31,000 after purchasing an additional 71 shares during the last quarter. International Assets Investment Management LLC purchased a new position in IES in the fourth quarter valued at approximately $38,000. Steward Partners Investment Advisory LLC raised its holdings in IES by 366.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company’s stock worth $38,000 after purchasing an additional 77 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in IES by 157.9% during the third quarter. SBI Securities Co. Ltd. now owns 98 shares of the technology company’s stock worth $39,000 after purchasing an additional 60 shares in the last quarter. Finally, Spire Wealth Management purchased a new stake in shares of IES during the 3rd quarter worth approximately $40,000. Hedge funds and other institutional investors 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.