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

IES Holdings, Inc. (NASDAQ:IESC) shares reached a new 52-week high during trading on Monday . The stock traded as high as $692.25 and last traded at $690.66, with a volume of 68438 shares traded. The stock had previously closed at $666.70.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Freedom Capital downgraded IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Wall Street Zen downgraded shares of IES from a “strong-buy” rating to a “buy” rating in a report on Sunday. 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 and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $458.00.

IES Stock Performance

The company has a 50 day moving average of $511.80 and a two-hundred day moving average of $456.24. The stock has a market capitalization of $13.65 billion, a PE ratio of 36.54 and a beta of 1.81.

IES (NASDAQ:IESC) last released its quarterly earnings results on Friday, May 1st. The technology company reported $4.16 EPS for the quarter, beating analysts’ consensus estimates of $3.95 by $0.21. The company had revenue of $974.20 million during the quarter, compared to analysts’ expectations of $1.01 billion. IES had a return on equity of 33.97% and a net margin of 10.40%.

Insider Activity at IES

In other IES news, CEO Matthew J. Simmes sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $658.24, for a total transaction of $4,607,680.00. Following the transaction, the chief executive officer owned 86,575 shares in the company, valued at approximately $56,987,128. This represents a 7.48% 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 Todd M. Cleveland sold 11,578 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $663.52, for a total transaction of $7,682,234.56. Following the completion of the transaction, the director directly owned 65,817 shares of the company’s stock, valued at approximately $43,670,895.84. This represents a 14.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 87,315 shares of company stock valued at $55,468,083 in the last three months. 56.43% of the stock is owned by insiders.

Institutional Investors Weigh In On IES

A number of large investors have recently made changes to their positions in the stock. First Trust Advisors LP raised its stake in IES by 982.7% in the 3rd quarter. First Trust Advisors LP now owns 323,893 shares of the technology company’s stock worth $128,796,000 after acquiring an additional 293,977 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in IES by 324,337.8% during 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 last quarter. Norges Bank acquired a new position in shares of IES in the fourth quarter valued at about $40,578,000. SG Capital Management LLC acquired a new position in shares of IES in the third quarter valued at about $38,609,000. Finally, Parsifal Capital Management LP purchased a new position in shares of IES in the third quarter worth about $25,768,000. 86.60% of the stock is owned by hedge funds and other institutional investors.

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.