IES (NASDAQ:IESC) Rating Lowered to Hold at Freedom Capital

IES (NASDAQ:IESC) was downgraded by stock analysts at Freedom Capital from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Wall Street Zen upgraded shares of IES from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Loop Capital set a $458.00 price objective on shares of IES in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $458.00.

IES Price Performance

IESC opened at $661.40 on Tuesday. IES has a 12 month low of $233.71 and a 12 month high of $676.70. The stock has a market capitalization of $13.18 billion, a P/E ratio of 35.27 and a beta of 1.81. The business has a 50 day simple moving average of $505.39 and a 200-day simple moving average of $452.23.

IES (NASDAQ:IESC) last announced its quarterly earnings data on Friday, May 1st. The technology company reported $4.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.95 by $0.21. The firm had revenue of $974.20 million for the quarter, compared to analyst estimates of $1.01 billion. IES had a return on equity of 33.97% and a net margin of 10.40%.

Insiders Place Their Bets

In other IES news, CEO Matthew J. Simmes sold 5,000 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $506.26, for a total value of $2,531,300.00. Following the sale, the chief executive officer owned 93,575 shares of the company’s stock, valued at $47,373,279.50. This represents a 5.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Todd M. Cleveland sold 3,119 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $511.81, for a total transaction of $1,596,335.39. Following the transaction, the director directly owned 82,517 shares of the company’s stock, valued at approximately $42,233,025.77. This trade represents a 3.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 20,659 shares of company stock worth $10,636,940. Insiders own 56.43% of the company’s stock.

Hedge Funds Weigh In On IES

Hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP lifted its position in shares of IES by 982.7% in the third quarter. First Trust Advisors LP now owns 323,893 shares of the technology company’s stock valued at $128,796,000 after acquiring an additional 293,977 shares in the last quarter. Geode Capital Management LLC increased its position in IES by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 274,725 shares of the technology company’s stock worth $106,887,000 after purchasing an additional 6,349 shares in the last quarter. Pertento Partners LLP raised its stake in IES by 17.1% in the 4th quarter. Pertento Partners LLP now owns 209,351 shares of the technology company’s stock valued at $81,442,000 after purchasing an additional 30,583 shares during the last quarter. State Street Corp raised its stake in IES by 1.2% in the 4th quarter. State Street Corp now owns 205,905 shares of the technology company’s stock valued at $80,101,000 after purchasing an additional 2,517 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in IES by 7.7% in the 4th quarter. Morgan Stanley now owns 171,488 shares of the technology company’s stock valued at $66,713,000 after purchasing an additional 12,232 shares in the last quarter. Hedge funds and other institutional investors own 86.60% of the company’s stock.

About IES

IES Holdings, Inc (NASDAQ: IESC) is a specialty contractor providing integrated electrical and mechanical construction services, engineering, and systems integration across North America. The company focuses on delivering end-to-end solutions for commercial, industrial and mission-critical facilities, combining design, build, commission and maintenance capabilities to serve a wide range of markets.

Through its subsidiaries, IES offers a comprehensive portfolio of services including electrical distribution and infrastructure, mechanical contracting, process piping, controls and automation, energy management, and ongoing service and maintenance.