IES (NASDAQ:IESC) Upgraded by StockNews.com to Buy Rating

IES (NASDAQ:IESC) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

IES Stock Down 2.5 %

NASDAQ:IESC opened at $221.28 on Thursday. The firm has a market cap of $4.43 billion, a PE ratio of 22.37 and a beta of 1.52. IES has a 12 month low of $81.89 and a 12 month high of $320.08. The company’s 50-day moving average price is $244.36 and its two-hundred day moving average price is $212.01.

Insider Activity at IES

In other news, CEO Jeffrey L. Et Al Gendell sold 470 shares of IES stock in a transaction on Monday, December 16th. The stock was sold at an average price of $252.25, for a total value of $118,557.50. Following the completion of the sale, the chief executive officer now directly owns 10,957,184 shares of the company’s stock, valued at approximately $2,763,949,664. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Tracy Mclauchlin sold 5,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $253.02, for a total value of $1,265,100.00. Following the transaction, the chief financial officer now directly owns 71,177 shares in the company, valued at $18,009,204.54. This trade represents a 6.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,359 shares of company stock valued at $7,341,029 over the last ninety days. 56.76% of the stock is owned by insiders.

Hedge Funds Weigh In On IES

Several large investors have recently bought and sold shares of IESC. Marshall Wace LLP bought a new stake in shares of IES during the 2nd quarter valued at $632,000. The Manufacturers Life Insurance Company increased its holdings in IES by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 7,434 shares of the technology company’s stock valued at $1,036,000 after purchasing an additional 322 shares during the last quarter. Cetera Investment Advisers lifted its stake in IES by 2.2% in the second quarter. Cetera Investment Advisers now owns 8,690 shares of the technology company’s stock valued at $1,211,000 after buying an additional 190 shares during the period. Handelsbanken Fonder AB boosted its stake in IES by 28.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 3,200 shares of the technology company’s stock worth $639,000 after acquiring an additional 700 shares during the last quarter. Finally, City Center Advisors LLC bought a new stake in IES in the third quarter valued at approximately $421,000. 86.60% of the stock is currently owned by institutional investors and hedge funds.

About IES

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.