IES (NASDAQ:IESC) Reaches New 12-Month High – What’s Next?

IES Holdings, Inc. (NASDAQ:IESC) shares reached a new 52-week high on Monday . The company traded as high as $692.25 and last traded at $690.66, with a volume of 68438 shares traded. The stock had previously closed at $666.70.

Analysts Set New Price Targets

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

IES Price Performance

The company’s 50-day simple moving average is $525.75 and its 200 day simple moving average is $464.59. The firm has a market cap of $13.51 billion, a P/E ratio of 36.15 and a beta of 1.81.

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

Insider Activity at IES

In related news, Chairman Jeffrey L. Et Al Gendell sold 40,103 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $677.19, for a total value of $27,157,350.57. Following the transaction, the chairman owned 10,547,058 shares of the company’s stock, valued at $7,142,362,207.02. This trade represents a 0.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew J. Simmes sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $658.24, for a total transaction of $4,607,680.00. Following the completion of the transaction, the chief executive officer directly owned 86,575 shares in the company, valued at $56,987,128. This represents a 7.48% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 90,315 shares of company stock worth $57,455,913. 56.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP grew its holdings in IES by 40.4% during the 1st quarter. First Trust Advisors LP now owns 349,163 shares of the technology company’s stock worth $166,366,000 after acquiring an additional 100,425 shares in the last quarter. Geode Capital Management LLC grew its holdings in IES by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 274,725 shares of the technology company’s stock worth $106,887,000 after acquiring an additional 6,349 shares in the last quarter. Pertento Partners LLP grew its holdings in IES by 17.1% during the 4th quarter. Pertento Partners LLP now owns 209,351 shares of the technology company’s stock worth $81,442,000 after acquiring an additional 30,583 shares in the last quarter. State Street Corp grew its holdings in 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 acquiring an additional 2,517 shares in the last quarter. Finally, Morgan Stanley grew its holdings in IES by 7.7% during the 4th quarter. Morgan Stanley now owns 171,488 shares of the technology company’s stock worth $66,713,000 after acquiring an additional 12,232 shares in the last quarter. 86.60% of the stock is currently owned by institutional investors.

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.