IES (NASDAQ:IESC) Reaches New 1-Year High - Here's What Happened

Key Points

• IES Holdings, Inc. shares reached a new 52-week high of $415.59 during trading, up from a previous close of $380.38, with a total volume of 36,268 shares traded.
• Analysts have upgraded IES's rating from "buy" to "strong-buy", with an average rating of "buy" from multiple brokerages.
• IES reported quarterly earnings of $3.95 per share, exceeding estimates by $0.40, with revenue totaling $890.20 million, above the consensus estimate of $833.00 million.

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report) shares hit a new 52-week high during trading on Friday . The company traded as high as $413.68 and last traded at $415.59, with a volume of 36268 shares trading hands. The stock had previously closed at $380.38.

Analysts Set New Price Targets

A number of brokerages have recently commented on IESC. Wall Street Zen raised IES from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 16th. Weiss Ratings reissued a "buy (b-)" rating on shares of IES in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy".

IES Price Performance

The stock has a market capitalization of $8.57 billion, a price-to-earnings ratio of 33.00 and a beta of 1.70. The company has a current ratio of 1.85, a quick ratio of 1.65 and a debt-to-equity ratio of 0.03. The stock has a 50-day simple moving average of $370.62 and a 200 day simple moving average of $304.15.

IES (NASDAQ:IESC - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The technology company reported $3.95 earnings per share for the quarter, topping analysts' consensus estimates of $3.55 by $0.40. IES had a return on equity of 37.23% and a net margin of 8.15%.The company had revenue of $890.20 million during the quarter, compared to the consensus estimate of $833.00 million.

Insider Buying and Selling at IES

In related news, Chairman Jeffrey L. Et Al Gendell sold 55,500 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $373.92, for a total value of $20,752,560.00. Following the transaction, the chairman directly owned 10,801,028 shares of the company's stock, valued at approximately $4,038,720,389.76. This trade represents a 0.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 145,837 shares of company stock valued at $53,984,109. 56.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Fiera Capital Corp bought a new position in shares of IES in the 1st quarter valued at approximately $1,448,000. Hedeker Wealth LLC bought a new position in shares of IES in the 1st quarter valued at approximately $727,000. Victory Capital Management Inc. raised its stake in shares of IES by 91.6% in the 1st quarter. Victory Capital Management Inc. now owns 12,561 shares of the technology company's stock valued at $2,074,000 after acquiring an additional 6,006 shares in the last quarter. American Century Companies Inc. raised its stake in shares of IES by 1.8% in the 1st quarter. American Century Companies Inc. now owns 53,699 shares of the technology company's stock valued at $8,866,000 after acquiring an additional 966 shares in the last quarter. Finally, Bridgewater Advisors Inc. bought a new position in IES in the 1st quarter worth approximately $552,000. 86.60% of the stock is owned by institutional investors.

IES Company Profile

IES Holdings, Inc engages in the design and installation of integrated electrical and technology systems, and provides infrastructure products and services in the United States. The Communications segment designs, installs, and maintains network infrastructure within data centers for co-location and managed hosting customers; corporate, educational, financial, hospitality, and healthcare buildings; e-commerce distribution centers; and high-tech manufacturing facilities.

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