IES (NASDAQ:IESC) Hits New 52-Week High - Here's Why

Key Points

• IES Holdings shares reached a new 52-week high of $816.51, up from a previous close of $780, giving the company a market capitalization of approximately $15.59 billion.
• The company significantly exceeded quarterly expectations, reporting EPS of $6.70 versus the $4.83 consensus and revenue of $1.24 billion compared with estimates of $1.08 billion.
• IES announced a 2-for-1 stock split scheduled to take effect before the market opens on August 24. Analysts maintain a “Moderate Buy” consensus, although the $458 average price target is well below the current trading level.

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company 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 research firms have recently commented on IESC. Freedom Capital lowered shares of IES from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 5th. Wall Street Zen upgraded shares of IES from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of IES in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $458.00.

IES Price Performance

The stock's 50 day moving average is $685.29 and its two-hundred day moving average is $587.22. The stock has a market capitalization of $15.59 billion, a PE ratio of 35.00 and a beta of 1.79.

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

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

Insiders Place Their Bets

In other IES 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 completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Todd M. Cleveland sold 5,000 shares of the company's 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 of the company's stock, valued at approximately $46,379,291.86. This represents a 7.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 123,446 shares of company stock valued at $89,308,580. Insiders own 56.43% of the company's stock.

Institutional Trading of IES

Institutional investors have recently modified their holdings of the stock. Emerald Investment Advisers LLC acquired a new stake in IES during the 2nd quarter worth $8,462,000. Rakuten Securities Inc. purchased a new position in shares of IES during the second quarter worth about $198,000. JB Capital Partners LP acquired a new stake in shares of IES during the second quarter worth about $617,849,000. Keebeck Wealth Management acquired a new stake in shares of IES during the second quarter worth about $713,000. Finally, Patron Partners LLC purchased a new stake in shares of IES in the 2nd quarter valued at about $304,000. 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.

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