IES (NASDAQ:IESC) Stock Crosses Above 200-Day Moving Average of $52.03

IES Holdings, Inc. (NASDAQ:IESC) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $52.03 and traded as high as $74.22. IES shares last traded at $72.72, with a volume of 46,616 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of IES in a research note on Thursday, August 17th. They issued a “strong-buy” rating on the stock.

IES Stock Down 1.3 %

The company’s fifty day moving average price is $63.47 and its 200 day moving average price is $52.03. The company has a market capitalization of $1.47 billion, a P/E ratio of 20.26 and a beta of 1.23.

IES (NASDAQ:IESC) last posted its quarterly earnings results on Friday, August 4th. The technology company reported $1.08 earnings per share (EPS) for the quarter. IES had a net margin of 3.19% and a return on equity of 20.69%. The business had revenue of $584.40 million for the quarter.

Insiders Place Their Bets

In related news, COO Matthew J. Simmes sold 2,000 shares of the stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $53.76, for a total value of $107,520.00. Following the completion of the transaction, the chief operating officer now owns 66,919 shares of the company’s stock, valued at approximately $3,597,565.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 59.82% of the company’s stock.

Institutional Trading of IES

Hedge funds have recently made changes to their positions in the company. Legato Capital Management LLC acquired a new position in shares of IES in the second quarter valued at approximately $5,433,000. Nuveen Asset Management LLC increased its position in IES by 47.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 38,282 shares of the technology company’s stock valued at $2,177,000 after acquiring an additional 12,330 shares during the period. Alliancebernstein L.P. raised its stake in shares of IES by 30.2% during the second quarter. Alliancebernstein L.P. now owns 6,431 shares of the technology company’s stock valued at $366,000 after acquiring an additional 1,490 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of IES by 4,466.0% during the second quarter. Wells Fargo & Company MN now owns 73,422 shares of the technology company’s stock worth $4,176,000 after purchasing an additional 71,814 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of IES during the second quarter worth $232,000. 86.60% of the stock is owned by institutional investors and hedge funds.

IES Company Profile

IES Holdings, Inc designs and installs integrated electrical and technology systems, and provides infrastructure products and services in the United States. Its Commercial & Industrial segment offers electrical and mechanical design, construction, and maintenance services for office buildings, manufacturing facilities, data centers, chemical plants, refineries, wind farms, solar facilities, municipal infrastructures, and health care facilities.