IES (NASDAQ:IESC) Stock Rating Upgraded by Wall Street Zen
by Sarita Garza · The Markets DailyIES (NASDAQ:IESC – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.
Other equities research analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IES in a research note on Thursday, June 18th. Freedom Capital downgraded shares of IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $458.00.
IES Stock Performance
Shares of IESC opened at $744.54 on Friday. The firm has a market cap of $14.83 billion, a PE ratio of 33.08 and a beta of 1.78. The firm’s 50 day moving average price is $674.87 and its 200 day moving average price is $571.73. IES has a twelve month low of $309.51 and a twelve month high of $804.00.
Shares of IES are set to split before the market opens on Monday, August 24th. The 2-1 split was announced on Friday, July 31st. The newly issued shares will be distributed to shareholders after the closing bell on Friday, August 21st.
IES (NASDAQ:IESC – Get Free Report) last posted its earnings results on Friday, July 31st. The technology company reported $6.70 EPS for the quarter, topping the consensus estimate of $4.83 by $1.87. IES had a net margin of 11.40% and a return on equity of 38.05%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.08 billion.
Insiders Place Their Bets
In other IES news, Director Todd M. Cleveland sold 5,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was 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 in the company, valued at $46,379,291.86. This trade represents a 7.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Tracy Mclauchlin sold 3,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $662.61, for a total value of $1,987,830.00. Following the transaction, the chief financial officer owned 62,525 shares in the company, valued at approximately $41,429,690.25. This trade represents a 4.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 208,102 shares of company stock valued at $146,518,202 over the last 90 days. 56.43% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its position in 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 worth $46,699,000 after buying an additional 120,005 shares during the period. Norges Bank bought a new stake in shares of IES in the fourth quarter valued at approximately $40,578,000. First Trust Advisors LP grew its stake in shares of IES by 40.4% in the first quarter. First Trust Advisors LP now owns 349,163 shares of the technology company’s stock worth $166,366,000 after acquiring an additional 100,425 shares during the last quarter. Parsifal Capital Management LP bought a new position in IES during the third quarter worth $25,768,000. Finally, Arrowstreet Capital Limited Partnership increased its position in IES by 25.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 164,722 shares of the technology company’s stock worth $64,080,000 after acquiring an additional 33,273 shares during the period. Institutional investors 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.