IES (NASDAQ:IESC) Hits New 12-Month High – Time to Buy?

IES Holdings, Inc. (NASDAQ:IESC) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $816.51 and last traded at $806.2330, with a volume of 14054 shares traded. The stock had previously closed at $780.00.

Wall Street Analyst Weigh In

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

IES Stock Performance

The stock has a market cap of $15.59 billion, a price-to-earnings ratio of 35.00 and a beta of 1.79. The company has a 50-day moving average of $685.29 and a 200-day moving average of $587.22.

IES’s stock is set to split before the market opens on Monday, August 24th. The 2-1 split was announced on Friday, July 31st. The newly created shares will be payable to shareholders after the closing bell on Friday, August 21st.

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

Insider Buying and Selling at IES

In other IES news, Director Todd M. Cleveland sold 5,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $761.89, for a total transaction of $3,809,450.00. Following the completion of the transaction, the director owned 60,874 shares in the company, valued at approximately $46,379,291.86. This represents a 7.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was 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 $7,872,249,686.73. This trade represents a 0.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 123,446 shares of company stock worth $89,308,580 over the last three months. 56.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On IES

A number of hedge funds have recently added to or reduced their stakes in IESC. Emerald Investment Advisers LLC acquired a new position in IES during the 2nd quarter worth approximately $8,462,000. Rakuten Securities Inc. purchased a new stake in shares of IES in the second quarter valued at approximately $198,000. JB Capital Partners LP acquired a new position in IES during the second quarter worth $617,849,000. Keebeck Wealth Management acquired a new position in IES during the second quarter worth $713,000. Finally, Patron Partners LLC purchased a new position in IES in the second quarter worth $304,000. Institutional investors and hedge funds 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.