IES (NASDAQ:IESC) Shares Gap Up – Still a Buy?

IES Holdings, Inc. (NASDAQ:IESC) shares gapped up prior to trading on Wednesday . The stock had previously closed at $710.54, but opened at $738.96. IES shares last traded at $758.6770, with a volume of 49,405 shares trading hands.

Analysts Set New Price Targets

IESC has been the subject of several research analyst reports. Freedom Capital downgraded shares of IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IES in a research report on Thursday, June 18th. Finally, Wall Street Zen downgraded IES from a “strong-buy” rating to a “buy” rating in a research note 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. Based on data from MarketBeat.com, IES currently has a consensus rating of “Moderate Buy” and a consensus target price of $458.00.

IES Trading Up 7.8%

The stock’s 50-day moving average price is $658.35 and its 200-day moving average price is $526.40. The company has a market capitalization of $15.25 billion, a P/E ratio of 40.81 and a beta of 1.78.

IES (NASDAQ:IESC) last posted its quarterly earnings results on Friday, May 1st. The technology company reported $4.16 EPS 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 during the quarter, compared to analyst estimates of $1.01 billion.

Insider Buying and Selling

In other news, Director Todd M. Cleveland sold 11,578 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was 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 approximately $43,670,895.84. This represents a 14.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew J. Simmes sold 7,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $658.24, for a total value of $4,607,680.00. Following the sale, the chief executive officer owned 86,575 shares in the company, valued at $56,987,128. The trade was a 7.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 208,102 shares of company stock valued at $146,518,202. 56.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Optiver Holding B.V. boosted its holdings in shares of IES by 62.5% during the first quarter. Optiver Holding B.V. now owns 52 shares of the technology company’s stock valued at $25,000 after acquiring an additional 20 shares during the period. Parallel Advisors LLC increased its holdings in shares of IES by 121.4% in the 1st quarter. Parallel Advisors LLC now owns 62 shares of the technology company’s stock worth $30,000 after acquiring an additional 34 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of IES in the 4th quarter worth about $38,000. Steward Partners Investment Advisory LLC lifted its position in IES by 366.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company’s stock valued at $38,000 after purchasing an additional 77 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its position in IES by 59.0% in the 4th quarter. Global Retirement Partners LLC now owns 124 shares of the technology company’s stock valued at $48,000 after purchasing an additional 46 shares during the last quarter. 86.60% of the stock is currently 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.