StockNews.com Upgrades IES (NASDAQ:IESC) to “Buy”

by · The Cerbat Gem

IES (NASDAQ:IESC – Get Free Report) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

IES Stock Down 0.3 %

IESC stock opened at $210.23 on Wednesday. IES has a 52-week low of $59.75 and a 52-week high of $234.81. The stock’s fifty day simple moving average is $188.61 and its 200-day simple moving average is $160.36. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 31.71 and a beta of 1.38.

IES (NASDAQ:IESC – Get Free Report) last issued its earnings results on Friday, August 2nd. The technology company reported $2.67 earnings per share for the quarter. IES had a return on equity of 34.38% and a net margin of 6.30%. The firm had revenue of $768.40 million for the quarter.

IES declared that its Board of Directors has authorized a share buyback plan on Friday, August 2nd that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity at IES

In related news, Director Todd M. Cleveland sold 10,000 shares of IES stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $153.57, for a total value of $1,535,700.00. Following the transaction, the director now owns 104,654 shares in the company, valued at approximately $16,071,714.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other IES news, CFO Tracy Mclauchlin sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $176.73, for a total value of $883,650.00. Following the transaction, the chief financial officer now directly owns 64,377 shares of the company’s stock, valued at $11,377,347.21. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Todd M. Cleveland sold 10,000 shares of IES stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $153.57, for a total value of $1,535,700.00. Following the sale, the director now directly owns 104,654 shares in the company, valued at approximately $16,071,714.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 160,966 shares of company stock worth $26,003,099. 59.19% of the stock is owned by insiders.

Institutional Trading of IES

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quest Partners LLC increased its position in shares of IES by 41.0% during the second quarter. Quest Partners LLC now owns 296 shares of the technology company’s stock worth $41,000 after acquiring an additional 86 shares during the last quarter. CWM LLC increased its position in shares of IES by 17.2% during the third quarter. CWM LLC now owns 682 shares of the technology company’s stock worth $136,000 after acquiring an additional 100 shares during the last quarter. Ellsworth Advisors LLC increased its position in shares of IES by 2.7% during the second quarter. Ellsworth Advisors LLC now owns 5,806 shares of the technology company’s stock worth $809,000 after acquiring an additional 151 shares during the last quarter. Cetera Investment Advisers increased its position in shares of IES by 2.2% during the second quarter. Cetera Investment Advisers now owns 8,690 shares of the technology company’s stock worth $1,211,000 after acquiring an additional 190 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in IES by 258.7% in the second quarter. Federated Hermes Inc. now owns 269 shares of the technology company’s stock valued at $37,000 after buying an additional 194 shares during the last quarter. 86.60% of the stock is owned by hedge funds and other institutional investors.

IES Company Profile

(Get Free Report)

IES Holdings, Inc engages in the design and installation of integrated electrical and technology systems, and provides infrastructure products and services in the United States. The Communications segment designs, installs, and maintains network infrastructure within data centers for co-location and managed hosting customers; corporate, educational, financial, hospitality, and healthcare buildings; e-commerce distribution centers; and high-tech manufacturing facilities.

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