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

StockNews.com upgraded shares of IES (NASDAQ:IESC) from a hold rating to a buy rating in a report issued on Wednesday morning.

IES Stock Down 1.3 %

NASDAQ IESC opened at $210.78 on Wednesday. IES has a 52 week low of $59.75 and a 52 week high of $234.81. The business’s fifty day simple moving average is $187.93 and its 200-day simple moving average is $160.01. The firm has a market cap of $4.27 billion, a PE ratio of 31.79 and a beta of 1.38.

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

IES announced that its Board of Directors has initiated a stock repurchase plan on Friday, August 2nd that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Activity at IES

In related news, CFO Tracy Mclauchlin sold 5,000 shares of the business’s 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 sale, the chief financial officer now directly owns 64,377 shares in the company, valued at approximately $11,377,347.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Tracy Mclauchlin sold 5,000 shares of the business’s 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 sale, the chief financial officer now directly owns 64,377 shares in the company, valued at approximately $11,377,347.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $160.61, for a total transaction of $8,152,242.38. Following the completion of the sale, the chief executive officer now owns 11,134,087 shares in the company, valued at approximately $1,788,245,713.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 160,966 shares of company stock worth $26,003,099. Company insiders own 59.19% of the company’s stock.

Hedge Funds Weigh In On IES

Several institutional investors have recently bought and sold shares of the company. Quest Partners LLC grew its position in IES by 41.0% in the 2nd quarter. Quest Partners LLC now owns 296 shares of the technology company’s stock valued at $41,000 after acquiring an additional 86 shares in the last quarter. CWM LLC grew its position in IES by 17.2% in the 3rd quarter. CWM LLC now owns 682 shares of the technology company’s stock valued at $136,000 after acquiring an additional 100 shares in the last quarter. Ellsworth Advisors LLC grew its position in IES by 2.7% in the 2nd quarter. Ellsworth Advisors LLC now owns 5,806 shares of the technology company’s stock valued at $809,000 after acquiring an additional 151 shares in the last quarter. Cetera Investment Advisers grew its position in IES by 2.2% in the 2nd 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 in the last quarter. Finally, Federated Hermes Inc. grew its position in IES by 258.7% in 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 in the last quarter. 86.60% of the stock is owned by institutional investors and hedge funds.

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.