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

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

IES Trading Down 6.6 %

IES stock opened at $213.57 on Wednesday. IES has a 12-month low of $59.75 and a 12-month high of $234.81. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 32.21 and a beta of 1.38. The firm has a 50 day moving average of $186.25 and a 200 day moving average of $159.09.

IES (NASDAQ:IESC) last announced its quarterly earnings data on Friday, August 2nd. The technology company reported $2.67 earnings per share (EPS) for the quarter. IES had a net margin of 6.30% and a return on equity of 34.38%. The firm had revenue of $768.40 million during the quarter.

IES declared that its board has authorized a share repurchase program on Friday, August 2nd that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at IES

In related news, Director David B. Gendell sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $187.26, for a total value of $1,872,600.00. Following the transaction, the director now directly owns 127,976 shares of the company’s stock, valued at approximately $23,964,785.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of IES stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $160.61, for a total value of $8,152,242.38. Following the sale, the chief executive officer now directly owns 11,134,087 shares of the company’s stock, valued at approximately $1,788,245,713.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David B. Gendell sold 10,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $187.26, for a total value of $1,872,600.00. Following the completion of the sale, the director now owns 127,976 shares in the company, valued at $23,964,785.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 160,966 shares of company stock valued at $26,003,099 over the last 90 days. Company insiders own 59.19% of the company’s stock.

Institutional Trading of IES

A number of large investors have recently added to or reduced their stakes in IESC. Federated Hermes Inc. boosted its position in shares of IES by 258.7% during the 2nd quarter. Federated Hermes Inc. now owns 269 shares of the technology company’s stock valued at $37,000 after acquiring an additional 194 shares during the last quarter. Quest Partners LLC raised its stake in IES by 41.0% during the second quarter. Quest Partners LLC now owns 296 shares of the technology company’s stock valued at $41,000 after purchasing an additional 86 shares in the last quarter. Sunbelt Securities Inc. bought a new position in IES during the first quarter valued at $48,000. Contravisory Investment Management Inc. purchased a new position in shares of IES in the 2nd quarter worth $48,000. Finally, CWM LLC increased its holdings in shares of IES by 252.7% in the 2nd quarter. CWM LLC now owns 582 shares of the technology company’s stock worth $81,000 after buying an additional 417 shares during the last quarter. Institutional investors own 86.60% of the company’s stock.

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.