IES (NASDAQ:IESC) Sets New 12-Month High - Here's Why

Key Points

• IES Holdings, Inc. (NASDAQ:IESC) reached a new 52-week high of $402.50, showing a significant increase from its previous closing price of $392.85.
• Analysts have upgraded IES from a "buy" to a "strong-buy" rating, indicating increased confidence in the company's future performance.
• Insiders have sold a total of 145,837 shares valued at $53,984,109 in the past 90 days, and insiders hold 56.76% of the company's stock.

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report)'s share price hit a new 52-week high on Monday . The stock traded as high as $402.50 and last traded at $402.31, with a volume of 6573 shares traded. The stock had previously closed at $392.85.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded IES from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 16th.

IES Stock Performance

The firm has a market capitalization of $7.96 billion, a price-to-earnings ratio of 30.66 and a beta of 1.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.85 and a quick ratio of 1.65. The firm has a 50 day moving average price of $351.74 and a 200-day moving average price of $277.77.

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, beating 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 for the quarter, compared to analysts' expectations of $833.00 million.

Insiders Place Their Bets

In other IES news, Chairman Jeffrey L. Et Al Gendell sold 6,811 shares of the firm's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $380.74, for a total value of $2,593,220.14. Following the sale, the chairman directly owned 10,769,717 shares in the company, valued at $4,100,462,050.58. This trade represents a 0.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 145,837 shares of company stock valued at $53,984,109 in the last 90 days. 56.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On IES

Hedge funds have recently made changes to their positions in the company. Fiera Capital Corp purchased a new position in shares of IES during the first quarter worth about $1,448,000. Hedeker Wealth LLC purchased a new position in shares of IES during the first quarter worth about $727,000. Rhumbline Advisers grew its holdings in shares of IES by 3.0% during the first quarter. Rhumbline Advisers now owns 12,663 shares of the technology company's stock worth $2,091,000 after buying an additional 366 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of IES by 91.6% during the first quarter. Victory Capital Management Inc. now owns 12,561 shares of the technology company's stock worth $2,074,000 after buying an additional 6,006 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of IES by 1.8% during the first quarter. American Century Companies Inc. now owns 53,699 shares of the technology company's stock worth $8,866,000 after buying an additional 966 shares during the last quarter. Hedge funds and other institutional investors own 86.60% of the company's stock.

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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