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

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

IES Stock Down 1.1 %

IESC stock opened at $207.99 on Wednesday. The firm has a market cap of $4.16 billion, a PE ratio of 24.50 and a beta of 1.38. The business has a 50 day moving average of $189.35 and a 200-day moving average of $161.12. IES has a 12-month low of $59.75 and a 12-month high of $234.81.

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

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

Insider Activity at IES

In related news, Director David B. Gendell sold 10,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 127,976 shares in the company, valued at approximately $23,964,785.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other IES news, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $158.29, for a total transaction of $7,575,917.69. Following the sale, the chief executive officer now owns 11,036,984 shares in the company, valued at $1,747,044,197.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David B. Gendell sold 10,000 shares of the stock in a transaction on 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 160,966 shares of company stock worth $26,003,099. Insiders own 59.19% of the company’s stock.

Institutional Investors Weigh In On IES

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