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

IES Holdings, Inc. (NASDAQ:IESC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $771.34 and last traded at $769.8050, with a volume of 405 shares changing hands. The stock had previously closed at $749.83.

Analyst Ratings Changes

Several research firms have commented on IESC. Wall Street Zen downgraded IES from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Freedom Capital downgraded IES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $458.00.

IES Price Performance

The company has a 50-day moving average of $637.97 and a two-hundred day moving average of $515.81. The stock has a market capitalization of $13.86 billion, a PE ratio of 37.11 and a beta of 1.78.

IES (NASDAQ:IESC) last issued its 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. IES had a return on equity of 33.97% and a net margin of 10.40%.The firm had revenue of $974.20 million for the quarter, compared to analysts’ expectations of $1.01 billion.

Insider Transactions at IES

In related news, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of IES stock in a transaction on Friday, June 12th. The stock was sold at an average price of $756.47, for a total value of $35,342,278.40. Following the transaction, the chairman owned 10,406,559 shares in the company, valued at approximately $7,872,249,686.73. This trade represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Tracy Mclauchlin sold 3,000 shares of IES stock in a transaction on Friday, May 8th. The shares were sold at an average price of $662.61, for a total value of $1,987,830.00. Following the completion of the transaction, the chief financial officer owned 62,525 shares in the company, valued at $41,429,690.25. The trade was a 4.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 208,102 shares of company stock worth $146,518,202 over the last ninety days. 56.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First Trust Advisors LP lifted its stake in shares of IES by 40.4% during the first quarter. First Trust Advisors LP now owns 349,163 shares of the technology company’s stock worth $166,366,000 after purchasing an additional 100,425 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of IES by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 274,725 shares of the technology company’s stock worth $106,887,000 after purchasing an additional 6,349 shares in the last quarter. Pertento Partners LLP lifted its stake in shares of IES by 17.1% during the fourth quarter. Pertento Partners LLP now owns 209,351 shares of the technology company’s stock worth $81,442,000 after purchasing an additional 30,583 shares in the last quarter. State Street Corp lifted its stake in shares of IES by 1.2% during the fourth 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 in the last quarter. Finally, Morgan Stanley lifted its stake 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 purchasing an additional 12,232 shares in the last quarter. Institutional investors and hedge funds 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.