IES (NASDAQ:IESC) Stock Rating Lowered by StockNews.com

IES (NASDAQ:IESC) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

IES Price Performance

NASDAQ IESC traded up $7.75 during trading on Tuesday, hitting $246.06. The company’s stock had a trading volume of 142,004 shares, compared to its average volume of 132,274. The company has a market cap of $4.92 billion, a PE ratio of 28.98 and a beta of 1.37. The business’s 50 day simple moving average is $194.53 and its 200-day simple moving average is $165.68. IES has a fifty-two week low of $60.32 and a fifty-two week high of $254.99.

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 return on equity of 34.38% and a net margin of 6.30%. The firm had revenue of $768.40 million during the quarter.

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

Insiders Place Their Bets

In other IES news, Director David B. Gendell sold 10,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $187.26, for a total transaction of $1,872,600.00. Following the transaction, the director now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other IES news, CFO Tracy Mclauchlin sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $176.73, for a total transaction of $883,650.00. Following the sale, the chief financial officer now owns 64,377 shares in the company, valued at $11,377,347.21. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David B. Gendell sold 10,000 shares of the company’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 sale, the director now owns 127,976 shares in the company, valued at approximately $23,964,785.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 160,966 shares of company stock valued at $26,003,099. Insiders own 59.19% of the company’s stock.

Institutional Investors Weigh In On IES

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new position in IES during the 2nd quarter worth approximately $3,328,000. BNP Paribas Financial Markets lifted its holdings in shares of IES by 31.1% in the 1st quarter. BNP Paribas Financial Markets now owns 20,727 shares of the technology company’s stock valued at $2,521,000 after buying an additional 4,913 shares during the period. Truvestments Capital LLC acquired a new stake in shares of IES in the 1st quarter valued at approximately $499,000. Acadian Asset Management LLC lifted its holdings in shares of IES by 1,863.1% in the 1st quarter. Acadian Asset Management LLC now owns 12,446 shares of the technology company’s stock valued at $1,512,000 after buying an additional 11,812 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of IES by 27.4% in the 1st quarter. Janus Henderson Group PLC now owns 26,609 shares of the technology company’s stock valued at $3,237,000 after buying an additional 5,720 shares during the period. Institutional investors and hedge funds 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.