IES (NASDAQ:IESC) Sets New 12-Month High – Still a Buy?

IES Holdings, Inc. (NASDAQ:IESC)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $705.00 and last traded at $700.69, with a volume of 35815 shares changing hands. The stock had previously closed at $659.65.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IESC. Freedom Capital lowered shares of IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Loop Capital set a $458.00 target price on shares of IES in a research report on Tuesday, February 3rd. Finally, Wall Street Zen lowered shares of IES from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $458.00.

IES Stock Up 0.7%

The firm has a fifty day moving average of $569.43 and a 200-day moving average of $483.18. The stock has a market capitalization of $13.92 billion, a price-to-earnings ratio of 37.28 and a beta of 1.81.

IES (NASDAQ:IESC) last announced its quarterly earnings results on Friday, May 1st. The technology company reported $4.16 earnings per share for the quarter, beating analysts’ consensus estimates of $3.95 by $0.21. The business had revenue of $974.20 million during the quarter, compared to analysts’ expectations of $1.01 billion. IES had a return on equity of 33.97% and a net margin of 10.40%.

Insider Buying and Selling at IES

In other news, Director Todd M. Cleveland sold 11,578 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $663.52, for a total transaction of $7,682,234.56. Following the completion of the transaction, the director directly owned 65,817 shares of the company’s stock, valued at $43,670,895.84. This trade represents a 14.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Tracy Mclauchlin sold 3,000 shares of IES stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $662.61, for a total value of $1,987,830.00. Following the transaction, the chief financial officer owned 62,525 shares of the company’s stock, valued at $41,429,690.25. This represents a 4.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 158,882 shares of company stock valued at $108,621,368. Insiders own 56.43% of the company’s stock.

Institutional Investors Weigh In On IES

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP lifted its stake in IES by 40.4% in the 1st quarter. First Trust Advisors LP now owns 349,163 shares of the technology company’s stock valued at $166,366,000 after buying an additional 100,425 shares in the last quarter. Geode Capital Management LLC raised its stake in IES by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 274,725 shares of the technology company’s stock valued at $106,887,000 after purchasing an additional 6,349 shares during the last quarter. Pertento Partners LLP raised its stake in IES by 17.1% in the 4th quarter. Pertento Partners LLP now owns 209,351 shares of the technology company’s stock valued at $81,442,000 after purchasing an additional 30,583 shares during the last quarter. State Street Corp boosted its stake in shares of IES by 1.2% during the 4th quarter. State Street Corp now owns 205,905 shares of the technology company’s stock worth $80,101,000 after purchasing an additional 2,517 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of IES by 7.7% during the fourth quarter. Morgan Stanley now owns 171,488 shares of the technology company’s stock worth $66,713,000 after buying an additional 12,232 shares in the last quarter. Hedge funds and other institutional investors own 86.60% of the company’s stock.

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.