IES (NASDAQ:IESC) Sets New 52-Week High - Here's What Happened

Key Points

• IES Holdings, Inc. reached a new 52-week high at $378.05 during mid-day trading, up from a previous close of $361.47.
• The company's recent quarterly earnings report showed earnings per share of $3.95, exceeding analyst expectations of $3.55.
• IES has seen increased institutional interest, with several large investors boosting their holdings, resulting in 86.60% of its stock being owned by institutional investors and hedge funds.

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 $375.00 and last traded at $378.05, with a volume of 51511 shares trading hands. The stock had previously closed at $361.47.

Analyst Ratings Changes

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

IES Trading Up 4.7%

The company has a 50 day moving average of $333.70 and a two-hundred day moving average of $258.56. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.65 and a current ratio of 1.85. The stock has a market capitalization of $7.51 billion, a PE ratio of 28.90 and a beta of 1.64.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.55 by $0.40. IES had a net margin of 8.15% and a return on equity of 37.23%. The business had revenue of $890.20 million during 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 35,852 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $363.10, for a total value of $13,017,861.20. Following the transaction, the chairman directly owned 10,856,528 shares of the company's stock, valued at $3,942,005,316.80. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 59,026 shares of company stock valued at $21,348,428. Company insiders own 56.76% of the company's stock.

Hedge Funds Weigh In On IES

Several large investors have recently made changes to their positions in IESC. Geode Capital Management LLC boosted its position in shares of IES by 4.8% during the 2nd quarter. Geode Capital Management LLC now owns 263,993 shares of the technology company's stock worth $78,210,000 after purchasing an additional 12,026 shares during the period. Pertento Partners LLP purchased a new position in shares of IES during the 2nd quarter worth approximately $46,916,000. Franklin Resources Inc. boosted its position in shares of IES by 17.0% during the 2nd quarter. Franklin Resources Inc. now owns 149,573 shares of the technology company's stock worth $44,308,000 after purchasing an additional 21,738 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of IES by 50.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 110,313 shares of the technology company's stock worth $32,678,000 after purchasing an additional 36,845 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new position in shares of IES during the 1st quarter worth approximately $16,853,000. 86.60% of the stock is currently owned by institutional investors and hedge funds.

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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