StockNews.com Lowers IES (NASDAQ:IESC) to Hold

StockNews.com cut shares of IES (NASDAQ:IESC) from a buy rating to a hold rating in a research report report published on Tuesday morning.

IES Stock Up 2.1 %

NASDAQ IESC opened at $229.90 on Tuesday. The firm’s 50 day moving average is $183.71 and its 200-day moving average is $157.18. The company has a market capitalization of $4.65 billion, a PE ratio of 34.68 and a beta of 1.38. IES has a 12-month low of $59.75 and a 12-month high of $234.81.

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

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

Insider Buying and Selling

In other IES news, Director Todd M. Cleveland sold 10,000 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $153.57, for a total value of $1,535,700.00. Following the completion of the sale, the director now owns 104,654 shares in the company, valued at $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 SEC, which is available through this link. In other news, CFO Tracy Mclauchlin sold 5,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Todd M. Cleveland sold 10,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $153.57, for a total transaction of $1,535,700.00. Following the completion of the transaction, the director now directly owns 104,654 shares in the company, valued at approximately $16,071,714.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 160,966 shares of company stock worth $26,003,099. Insiders own 59.19% of the company’s stock.

Hedge Funds Weigh In On IES

Several institutional investors and hedge funds have recently made changes to their positions in IESC. Quest Partners LLC lifted its holdings in IES by 41.0% during the 2nd quarter. Quest Partners LLC now owns 296 shares of the technology company’s stock worth $41,000 after purchasing an additional 86 shares during the last quarter. CWM LLC lifted its holdings 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 buying an additional 100 shares in the last quarter. Ellsworth Advisors LLC lifted its holdings 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 buying an additional 151 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of 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 acquiring an additional 190 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of 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 acquiring an additional 194 shares in the last quarter. Institutional investors and hedge funds own 86.60% of the company’s stock.

IES Company Profile

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.