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

IES Holdings, Inc. (NASDAQ:IESC)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $488.98 and last traded at $489.9550, with a volume of 52100 shares trading hands. The stock had previously closed at $455.88.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wall Street Zen lowered IES from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings reissued a “buy (b)” rating on shares of IES in a research note on Monday, December 22nd. Finally, Loop Capital set a $458.00 price target on shares of IES in a report on Tuesday, February 3rd. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $458.00.

IES Stock Performance

The firm’s 50 day moving average is $427.07 and its 200 day moving average is $391.65. The stock has a market cap of $9.76 billion, a P/E ratio of 29.12 and a beta of 1.72.

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 business had revenue of $870.96 million for the quarter, compared to analyst estimates of $876.00 million.

Insider Activity

In other IES news, Chairman Jeffrey L. Et Al Gendell sold 76,400 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $473.25, for a total transaction of $36,156,300.00. Following the transaction, the chairman owned 10,595,320 shares in the company, valued at approximately $5,014,235,190. This represents a 0.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David B. Gendell sold 17,867 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $452.20, for a total transaction of $8,079,457.40. Following the completion of the transaction, the director directly owned 70,669 shares of the company’s stock, valued at approximately $31,956,521.80. This represents a 20.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 217,661 shares of company stock valued at $96,387,385. 56.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On IES

A number of institutional investors have recently modified their holdings of the stock. First Trust Advisors LP lifted its holdings in shares of IES by 982.7% in the 3rd quarter. First Trust Advisors LP now owns 323,893 shares of the technology company’s stock valued at $128,796,000 after buying an additional 293,977 shares during the period. Pertento Partners LLP acquired a new position in IES in the second quarter valued at approximately $46,916,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of IES by 324,337.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 120,042 shares of the technology company’s stock valued at $46,699,000 after purchasing an additional 120,005 shares during the period. SG Capital Management LLC acquired a new stake in IES during the third quarter valued at $38,609,000. Finally, Parsifal Capital Management LP acquired a new stake in IES during the third quarter valued at $25,768,000. 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.