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

Key Points

• IES reached a new 52‑week high of $537.92 (last $536.13) on Thursday, rising about 3% and giving the company a market cap of roughly $10.74 billion.
• The company missed quarterly estimates, reporting EPS of $3.71 versus $3.94 expected and revenue of $870.96M versus $876M, while posting a 9.7% net margin and 35.62% return on equity.
• Analysts still show a consensus Buy rating with an average target of $458 (below the current price), and insiders sold roughly $10.6M of stock last quarter despite insiders holding 56.43% ownership.

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $537.92 and last traded at $536.1270, with a volume of 153885 shares traded. The stock had previously closed at $523.01.

Wall Street Analyst Weigh In

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

IES Stock Up 3.0%

The company has a 50 day simple moving average of $471.87 and a 200-day simple moving average of $430.44. The stock has a market cap of $10.74 billion, a price-to-earnings ratio of 31.96 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 the consensus estimate of $3.94 by ($0.23). IES had a net margin of 9.70% and a return on equity of 35.62%. The firm had revenue of $870.96 million for the quarter, compared to analyst estimates of $876.00 million.

Insider Buying and Selling at IES

In other IES news, Chairman Jeffrey L. Et Al Gendell sold 320 shares of the company's stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $520.43, for a total transaction of $166,537.60. Following the sale, the chairman owned 10,587,161 shares in the company, valued at $5,509,876,199.23. This represents a 0.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Todd M. Cleveland sold 1,425 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $500.84, for a total value of $713,697.00. Following the sale, the director owned 78,089 shares in the company, valued at $39,110,094.76. The trade was a 1.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 20,659 shares of company stock worth $10,636,940 over the last quarter. 56.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IES

Several institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its holdings in shares of IES by 7.5% during the fourth quarter. Blue Trust Inc. now owns 400 shares of the technology company's stock valued at $156,000 after purchasing an additional 28 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of IES by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 244 shares of the technology company's stock valued at $95,000 after purchasing an additional 31 shares during the last quarter. Comerica Bank grew its holdings in shares of IES by 11.8% during the fourth quarter. Comerica Bank now owns 418 shares of the technology company's stock valued at $162,000 after purchasing an additional 44 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of IES by 59.0% during the fourth quarter. Global Retirement Partners LLC now owns 124 shares of the technology company's stock valued at $48,000 after purchasing an additional 46 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of IES by 1.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,955 shares of the technology company's stock valued at $1,468,000 after purchasing an additional 51 shares during the last quarter. 86.60% of the stock is owned by institutional investors.

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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