IES (NASDAQ:IESC) Trading Up 10.5% – Here’s Why

IES Holdings, Inc. (NASDAQ:IESC) was up 10.5% during mid-day trading on Friday . The stock traded as high as $534.00 and last traded at $534.0040. Approximately 106,800 shares changed hands during trading, a decline of 47% from the average daily volume of 202,940 shares. The stock had previously closed at $483.38.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on IESC shares. Wall Street Zen cut shares of IES from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 7th. Loop Capital set a $458.00 target price on shares of IES in a research note on Tuesday, February 3rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of IES in a research note on Monday, December 22nd. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $458.00.

IES Stock Performance

The company has a market cap of $10.71 billion, a price-to-earnings ratio of 31.98 and a beta of 1.67. The business’s 50 day moving average price is $487.03 and its 200-day moving average price is $437.32.

IES (NASDAQ:IESC) last announced its quarterly earnings data on Friday, January 30th. The technology company reported $3.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.94 by ($0.23). IES had a net margin of 9.70% and a return on equity of 35.62%. The business had revenue of $870.96 million during the quarter, compared to analyst estimates of $876.00 million.

Insider Activity

In other news, CEO Matthew J. Simmes sold 5,000 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $506.26, for a total value of $2,531,300.00. Following the completion of the transaction, the chief executive officer owned 93,575 shares in the company, valued at approximately $47,373,279.50. This represents a 5.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Jeffrey L. Et Al Gendell sold 5,048 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $529.50, for a total transaction of $2,672,916.00. Following the completion of the transaction, the chairman owned 10,590,272 shares of the company’s stock, valued at approximately $5,607,549,024. This represents a 0.05% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 20,659 shares of company stock worth $10,636,940. 56.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On IES

A number of hedge funds have recently made changes to their positions in IESC. First Trust Advisors LP raised its stake in shares of IES by 982.7% in the 3rd quarter. First Trust Advisors LP now owns 323,893 shares of the technology company’s stock valued at $128,796,000 after buying an additional 293,977 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of IES by 324,337.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 120,042 shares of the technology company’s stock valued at $46,699,000 after buying an additional 120,005 shares in the last quarter. Norges Bank bought a new stake in shares of IES in the 4th quarter worth about $40,578,000. SG Capital Management LLC bought a new stake in shares of IES in the 3rd quarter worth about $38,609,000. Finally, Parsifal Capital Management LP bought a new stake in shares of IES in the 3rd quarter worth about $25,768,000. Institutional investors and hedge funds own 86.60% of the company’s stock.

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.