IES (NASDAQ:IESC) Sets New 12-Month High – Should You Buy?

IES Holdings, Inc. (NASDAQ:IESC) hit a new 52-week high on Wednesday . The company traded as high as $816.51 and last traded at $806.2330, with a volume of 14054 shares. The stock had previously closed at $780.00.

Analyst Upgrades and Downgrades

IESC has been the topic of several recent analyst reports. Freedom Capital lowered shares of IES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Weiss Ratings reissued a “buy (b)” rating on shares of IES in a research report on Thursday, June 18th. Finally, Wall Street Zen raised IES from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $458.00.

IES Stock Performance

The firm’s 50 day moving average price is $686.26 and its two-hundred day moving average price is $591.32. The company has a market cap of $14.91 billion, a P/E ratio of 33.25 and a beta of 1.79.

Shares of IES are set to split on Monday, August 24th. The 2-1 split was announced on Friday, July 31st. The newly minted shares will be payable to shareholders after the market closes on Friday, August 21st.

IES (NASDAQ:IESC) last issued its earnings results on Friday, July 31st. The technology company reported $6.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.83 by $1.87. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.08 billion. IES had a net margin of 11.40% and a return on equity of 35.70%.

Insider Transactions at IES

In other news, Director Todd M. Cleveland sold 5,000 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $761.89, for a total transaction of $3,809,450.00. Following the transaction, the director owned 60,874 shares of the company’s stock, valued at $46,379,291.86. This represents a 7.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $756.47, for a total value of $35,342,278.40. Following the completion of the sale, the chairman owned 10,406,559 shares of the company’s stock, valued at approximately $7,872,249,686.73. This represents a 0.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 84,085 shares of company stock worth $61,991,652 in the last three months. Insiders own 56.43% of the company’s stock.

Institutional Investors Weigh In On IES

Hedge funds have recently added to or reduced their stakes in the company. Optiver Holding B.V. raised its position 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 worth $25,000 after purchasing an additional 20 shares during the period. Allworth Financial LP acquired a new stake in IES in the 2nd quarter valued at $25,000. Parallel Advisors LLC grew its position in IES by 121.4% in the 1st quarter. Parallel Advisors LLC now owns 62 shares of the technology company’s stock valued at $30,000 after purchasing an additional 34 shares during the period. International Assets Investment Management LLC bought a new stake in IES during the 4th quarter valued at $38,000. Finally, Steward Partners Investment Advisory LLC increased its stake in IES by 366.7% during 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 in the last quarter. Institutional investors and hedge funds own 86.60% of the company’s stock.

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.