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

Key Points

• Shares hit a new 52-week high, trading as high as $546.34 and last at $544.14 on mid-day volume of ~199,432 shares; the stock carries a market cap of $10.84 billion and a P/E of 32.37.
• IES reported quarterly EPS of $3.71, missing consensus of $3.94 and posting revenue slightly below estimates, yet analysts maintain an average "Buy" rating with an average price target of $458—well below the current share price.
• Insiders have sold about 20,659 shares (~$10.6M) in the past 90 days while still owning 56.43% of the company, and institutional investors hold roughly 86.60% of the stock, including large recent inflows from several funds.

Shares of IES Holdings, Inc. (NASDAQ:IESC - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $546.34 and last traded at $544.14, with a volume of 199432 shares trading hands. The stock had previously closed at $539.46.

Wall Street Analyst Weigh In

IESC has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of IES in a research report on Monday, December 22nd. Loop Capital set a $458.00 target price on shares of IES in a research note on Tuesday, February 3rd. Finally, Wall Street Zen cut shares of IES from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 7th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $458.00.

IES Stock Performance

The firm's 50-day simple moving average is $481.37 and its two-hundred day simple moving average is $435.03. The stock has a market cap of $10.84 billion, a price-to-earnings ratio of 32.37 and a beta of 1.67.

IES (NASDAQ:IESC - Get Free Report) last announced its quarterly earnings data 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 net margin of 9.70% and a return on equity of 35.62%. The business had revenue of $870.96 million during the quarter, compared to the consensus estimate of $876.00 million.

Insider Buying and Selling

In other IES news, Chairman Jeffrey L. Et Al Gendell sold 5,048 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $529.50, for a total value of $2,672,916.00. Following the sale, the chairman directly owned 10,590,272 shares in the company, valued at approximately $5,607,549,024. This trade represents a 0.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Todd M. Cleveland sold 3,119 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $511.81, for a total transaction of $1,596,335.39. Following the completion of the sale, the director owned 82,517 shares in the company, valued at approximately $42,233,025.77. This trade represents a 3.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,659 shares of company stock valued at $10,636,940 in the last 90 days. 56.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Orion Porfolio Solutions LLC lifted its position in shares of IES by 85.0% in the second quarter. Orion Porfolio Solutions LLC now owns 5,649 shares of the technology company's stock worth $1,673,000 after purchasing an additional 2,596 shares in the last quarter. AltraVue Capital LLC lifted its stake in IES by 2.1% in the 3rd quarter. AltraVue Capital LLC now owns 166,267 shares of the technology company's stock valued at $66,116,000 after purchasing an additional 3,370 shares during the last quarter. Alps Advisors Inc. lifted its stake in IES by 60.5% in the 3rd quarter. Alps Advisors Inc. now owns 5,726 shares of the technology company's stock valued at $2,277,000 after purchasing an additional 2,159 shares during the last quarter. RFG Advisory LLC acquired a new position in shares of IES in the third quarter valued at $944,000. Finally, First Trust Advisors LP increased its holdings in shares of IES by 982.7% in the third quarter. First Trust Advisors LP now owns 323,893 shares of the technology company's stock valued at $128,796,000 after purchasing an additional 293,977 shares during the last quarter. Institutional investors and hedge funds 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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