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

Shares of IES Holdings, Inc. (NASDAQ:IESC) hit a new 52-week high on Wednesday. The stock 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.

Analysts Set New Price Targets

IESC has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of IES from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 20th. Weiss Ratings upgraded IES from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, September 21st. Finally, Freedom Broker raised shares of IES from a “hold” rating to a “buy” rating and set a $440.00 price objective for the company in a research note on Friday, September 11th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, IES has an average rating of “Moderate Buy” and an average price target of $334.50.

IES Price Performance

The stock’s 50-day simple moving average is $269.02 and its 200 day simple moving average is $193.65. The stock has a market capitalization of $12.82 billion, a P/E ratio of 28.65 and a beta of 1.78.

IES (NASDAQ:IESC) last announced its quarterly earnings results on Friday, July 31st. The technology company reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.93. IES had a return on equity of 35.70% and a net margin of 11.40%.The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.08 billion.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in IESC. Optiver Holding B.V. lifted its holdings in IES by 62.5% during the 1st quarter. Optiver Holding B.V. now owns 52 shares of the technology company’s stock valued at $25,000 after buying an additional 20 shares in the last quarter. Allworth Financial LP purchased a new stake in shares of IES during the 2nd quarter valued at $25,000. Toth Financial Advisory Corp boosted its holdings in IES by 73.9% in the second quarter. Toth Financial Advisory Corp now owns 40 shares of the technology company’s stock worth $29,000 after acquiring an additional 17 shares in the last quarter. Parallel Advisors LLC increased its stake in IES by 121.4% during 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 in the last quarter. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in IES in the 2nd quarter worth $40,000. 86.60% of the stock is owned by hedge funds and other institutional investors.

About IES

IES Holdings, Inc (NASDAQ: IESC) is an industrial technology and infrastructure services company that designs, manufactures and installs electrical and mechanical systems. The company serves customers across the data center, industrial, commercial, residential and communications markets.

Its businesses provide electrical contracting, power distribution and control systems, communications infrastructure, structured cabling and related installation services. IES also manufactures and integrates modular and engineered systems used in data centers and other mission-critical facilities, while its residential operations support electrical and other building-system needs for housing construction.

Founded in 1997, IES Holdings serves customers primarily in the United States through operating companies and facilities located across multiple regions.