IES (NASDAQ:IESC) Hits New 12-Month High – Time to Buy?
by Teresa Graham · The Cerbat GemIES Holdings, Inc. (NASDAQ:IESC – Get Free Report)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $758.25 and last traded at $758.8360, with a volume of 7151 shares. The stock had previously closed at $734.91.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on IESC shares. Wall Street Zen downgraded shares of IES from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Freedom Capital downgraded shares of IES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. One investment 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $458.00.
Check Out Our Latest Analysis on IES
IES Stock Down 1.9%
The company has a market cap of $14.36 billion, a P/E ratio of 38.47 and a beta of 1.78. The business’s 50 day moving average is $608.63 and its 200 day moving average is $501.88.
IES (NASDAQ:IESC – Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The technology company reported $4.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.95 by $0.21. The business had revenue of $974.20 million for the quarter, compared to the consensus estimate of $1.01 billion. IES had a return on equity of 33.97% and a net margin of 10.40%.
Insiders Place Their Bets
In other news, CFO Tracy Mclauchlin sold 3,000 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $662.61, for a total transaction of $1,987,830.00. Following the transaction, the chief financial officer directly owned 62,525 shares of the company’s stock, valued at approximately $41,429,690.25. This represents a 4.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew J. Simmes sold 7,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer directly owned 86,575 shares in the company, valued at approximately $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 sold 156,382 shares of company stock valued at $107,366,474. Company insiders own 56.43% of the company’s stock.
Hedge Funds Weigh In On IES
A number of large investors have recently made changes to their positions in the business. Alps Advisors Inc. grew its holdings in shares of IES by 60.5% during the third quarter. Alps Advisors Inc. now owns 5,726 shares of the technology company’s stock valued at $2,277,000 after buying an additional 2,159 shares during the last quarter. AltraVue Capital LLC grew its holdings in shares of IES by 2.1% during the third quarter. AltraVue Capital LLC now owns 166,267 shares of the technology company’s stock valued at $66,116,000 after buying an additional 3,370 shares during the last quarter. RFG Advisory LLC purchased a new stake in IES in the third quarter valued at $944,000. Dakota Wealth Management purchased a new stake in IES in the fourth quarter valued at $1,018,000. Finally, First Trust Advisors LP boosted its holdings in IES by 982.7% in the third quarter. First Trust Advisors LP now owns 323,893 shares of the technology company’s stock valued at $128,796,000 after purchasing an additional 293,977 shares during the last quarter. 86.60% of the stock is owned by institutional investors and hedge funds.
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.