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

IES Holdings, Inc. (NASDAQ:IESC)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $485.70 and last traded at $487.9670, with a volume of 24312 shares trading hands. The stock had previously closed at $468.21.

Wall Street Analyst Weigh In

IESC has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of IES from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 30th. Weiss Ratings reissued a “buy (b)” rating on shares of IES in a report on Monday, December 22nd. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy”.

IES Stock Up 2.9%

The stock has a fifty day moving average of $419.65 and a 200-day moving average of $384.21. The firm has a market capitalization of $9.60 billion, a P/E ratio of 32.09 and a beta of 1.73.

IES (NASDAQ:IESC) last issued its quarterly earnings data on Friday, November 21st. The technology company reported $3.77 EPS for the quarter. IES had a net margin of 8.99% and a return on equity of 38.61%. The firm had revenue of $897.80 million for the quarter.

Insider Transactions at IES

In other news, CFO Tracy Mclauchlin sold 5,000 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $411.48, for a total transaction of $2,057,400.00. Following the completion of the sale, the chief financial officer owned 65,525 shares in the company, valued at $26,962,227. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mary K. Newman sold 2,000 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $477.86, for a total value of $955,720.00. Following the transaction, the chief accounting officer directly owned 21,843 shares in the company, valued at $10,437,895.98. This trade represents a 8.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 217,661 shares of company stock worth $96,387,385 over the last ninety days. 56.43% of the stock is currently owned by insiders.

Institutional Trading of IES

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Orion Porfolio Solutions LLC increased its position in shares of IES by 85.0% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 5,649 shares of the technology company’s stock valued at $1,673,000 after buying an additional 2,596 shares in the last quarter. Atria Investments Inc acquired a new position in IES in the second quarter valued at about $291,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of IES in the second quarter worth about $243,000. Arrowstreet Capital Limited Partnership raised its position in shares of IES by 50.2% during the second 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, Geode Capital Management LLC raised its position in shares of IES by 4.8% during the second 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. 86.60% of the stock is owned by institutional investors.

IES Company Profile

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.