IES (NASDAQ:IESC) Sets New 1-Year High - What's Next?

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)'s share price reached a new 52-week high on Wednesday . The stock traded as high as $375.00 and last traded at $378.05, with a volume of 51511 shares changing hands. The stock had previously closed at $361.47.

Wall Street Analysts Forecast Growth

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

IES Price Performance

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 company's 50-day simple moving average is $338.22 and its 200-day simple moving average is $263.27. The stock has a market capitalization of $7.35 billion, a P/E ratio of 28.27 and a beta of 1.64.

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

Insider Transactions at IES

In other IES news, Chairman Jeffrey L. Et Al Gendell sold 7,137 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $378.23, for a total transaction of $2,699,427.51. Following the sale, the chairman directly owned 10,776,528 shares in the company, valued at $4,076,006,185.44. This represents a 0.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 139,026 shares of company stock worth $51,390,889 in the last 90 days. Corporate insiders own 56.76% of the company's stock.

Institutional Investors Weigh In On IES

A number of hedge funds have recently made changes to their positions in IESC. Comerica Bank boosted its stake in shares of IES by 44.9% in the 4th quarter. Comerica Bank now owns 507 shares of the technology company's stock valued at $102,000 after purchasing an additional 157 shares in the last quarter. Deutsche Bank AG raised its holdings in IES by 40.7% during the 4th quarter. Deutsche Bank AG now owns 30,703 shares of the technology company's stock worth $6,170,000 after purchasing an additional 8,889 shares during the last quarter. Gotham Asset Management LLC bought a new stake in shares of IES in the 4th quarter valued at $647,000. Janus Henderson Group PLC increased its stake in shares of IES by 17.0% in the 4th quarter. Janus Henderson Group PLC now owns 35,070 shares of the technology company's stock valued at $7,048,000 after acquiring an additional 5,097 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in IES by 4.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,681 shares of the technology company's stock valued at $941,000 after purchasing an additional 191 shares in the last quarter. 86.60% of the stock is currently owned by institutional investors and hedge funds.

About IES

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.