IES (NASDAQ:IESC) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of IES (NASDAQ:IESC) from a hold rating to a buy rating in a research note published on Thursday.

IES Trading Up 5.3 %

Shares of NASDAQ IESC opened at $226.94 on Thursday. IES has a 12 month low of $81.89 and a 12 month high of $320.08. The firm has a fifty day simple moving average of $245.49 and a two-hundred day simple moving average of $211.56. The firm has a market capitalization of $4.54 billion, a PE ratio of 22.95 and a beta of 1.52.

Insider Activity at IES

In other news, CEO Jeffrey L. Et Al Gendell sold 470 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 10,957,184 shares of the company’s stock, valued at $2,763,949,664. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Tracy Mclauchlin sold 5,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $18,009,204.54. This trade represents a 6.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,359 shares of company stock worth $7,341,029 over the last ninety days. 56.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On IES

Institutional investors have recently modified their holdings of the stock. Rhumbline Advisers boosted its stake in IES by 1.4% in the 4th quarter. Rhumbline Advisers now owns 12,297 shares of the technology company’s stock worth $2,471,000 after purchasing an additional 171 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in IES by 1,856.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,070 shares of the technology company’s stock worth $818,000 after buying an additional 3,862 shares during the last quarter. Peterson Wealth Services lifted its stake in shares of IES by 1.2% in the fourth quarter. Peterson Wealth Services now owns 8,110 shares of the technology company’s stock worth $1,630,000 after buying an additional 100 shares in the last quarter. Highland Capital Management LLC purchased a new stake in shares of IES during the fourth quarter valued at approximately $212,000. Finally, KBC Group NV raised its holdings in IES by 52.5% in the 4th quarter. KBC Group NV now owns 401 shares of the technology company’s stock worth $81,000 after acquiring an additional 138 shares during the last quarter. 86.60% of the stock is owned by hedge funds and other institutional investors.

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.