IES (NASDAQ:IESC) Hits New 12-Month High – Time to Buy?

IES Holdings, Inc. (NASDAQ:IESC)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $758.25 and last traded at $758.8360, with a volume of 7151 shares trading hands. The stock had previously closed at $734.91.

Wall Street Analyst Weigh In

IESC has been the subject of several recent analyst reports. Freedom Capital lowered IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Wall Street Zen lowered IES from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $458.00.

IES Price Performance

The company has a 50-day simple moving average of $608.63 and a 200-day simple moving average of $501.88. The firm has a market cap of $14.36 billion, a PE ratio of 38.47 and a beta of 1.78.

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

Insider Activity at IES

In other news, CFO Tracy Mclauchlin sold 3,000 shares of IES stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $662.61, for a total transaction of $1,987,830.00. Following the completion of the sale, the chief financial officer owned 62,525 shares of the company’s stock, valued at approximately $41,429,690.25. The trade was a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Todd M. Cleveland sold 11,578 shares of IES 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 sale, the director directly owned 65,817 shares of the company’s stock, valued at $43,670,895.84. This represents a 14.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 156,382 shares of company stock worth $107,366,474. Insiders own 56.43% of the company’s stock.

Institutional Trading of IES

Several institutional investors and hedge funds have recently modified their holdings of IESC. First Trust Advisors LP raised its stake in shares of IES by 982.7% during the third quarter. First Trust Advisors LP now owns 323,893 shares of the technology company’s stock valued at $128,796,000 after acquiring an additional 293,977 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of IES by 324,337.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 120,042 shares of the technology company’s stock valued at $46,699,000 after acquiring an additional 120,005 shares in the last quarter. Norges Bank bought a new stake in shares of IES during the fourth quarter valued at approximately $40,578,000. SG Capital Management LLC bought a new position in IES in the third quarter worth approximately $38,609,000. Finally, Parsifal Capital Management LP bought a new position in IES in the third quarter worth approximately $25,768,000. 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.