IES (NASDAQ:IESC) Hits New 12-Month High - What's Next?

Key Points

• IES Holdings shares reached a new 52-week high, trading as high as $809.33 and closing near $806, well above its 50-day and 200-day moving averages.
• The company reported strong quarterly results, with earnings per share of $6.70 versus the $4.83 consensus estimate and revenue of $1.24 billion versus expectations of $1.08 billion.
• IES announced a 2-for-1 stock split scheduled before the market opens on August 24. Analysts’ consensus rating is “Moderate Buy,” though the $458 price target is substantially below the current share price, while insiders have sold more than $114 million of stock in the past 90 days.

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $809.33 and last traded at $806.0550, with a volume of 16560 shares trading hands. The stock had previously closed at $784.03.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IESC shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of IES in a report on Thursday, June 18th. Wall Street Zen upgraded IES from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 1st. Finally, Freedom Capital downgraded IES from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $458.00.

IES Stock Performance

The business's 50 day moving average price is $679.24 and its two-hundred day moving average price is $578.66. The company has a market capitalization of $15.63 billion, a price-to-earnings ratio of 34.83 and a beta of 1.79.

Shares of IES are going to split before the market opens on Monday, August 24th. The 2-1 split was announced on Friday, July 31st. The newly issued shares will be issued to shareholders after the closing bell on Friday, August 21st.

IES (NASDAQ:IESC - Get Free Report) last released its earnings results on Friday, July 31st. The technology company reported $6.70 earnings per share for the quarter, topping analysts' consensus estimates of $4.83 by $1.87. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.08 billion. IES had a return on equity of 35.70% and a net margin of 11.40%.

Insider Transactions at IES

In related news, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of IES stock in a transaction dated 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 transaction, the chairman directly owned 10,406,559 shares of the company's stock, valued at $7,872,249,686.73. The trade was a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Todd M. Cleveland sold 5,000 shares of IES stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $761.89, for a total value of $3,809,450.00. Following the transaction, the director directly owned 60,874 shares in the company, valued at approximately $46,379,291.86. The trade was a 7.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 160,076 shares of company stock valued at $114,124,105. Corporate insiders own 56.43% of the company's stock.

Hedge Funds Weigh In On IES

Several large investors have recently made changes to their positions in IESC. Optiver Holding B.V. raised its holdings in shares of IES by 62.5% in the 1st quarter. Optiver Holding B.V. now owns 52 shares of the technology company's stock worth $25,000 after purchasing an additional 20 shares in the last quarter. Parallel Advisors LLC boosted its holdings in IES by 121.4% during the first quarter. Parallel Advisors LLC now owns 62 shares of the technology company's stock worth $30,000 after buying an additional 34 shares in the last quarter. International Assets Investment Management LLC acquired a new position in IES in the fourth quarter worth approximately $38,000. Steward Partners Investment Advisory LLC grew its position in IES by 366.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company's stock worth $38,000 after buying an additional 77 shares during the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of IES by 59.0% in the fourth quarter. Global Retirement Partners LLC now owns 124 shares of the technology company's stock valued at $48,000 after buying an additional 46 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.

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