IES (NASDAQ:IESC) Hits New 52-Week High - Here's Why

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $292.00 and last traded at $292.00, with a volume of 798 shares trading hands. The stock had previously closed at $285.55.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of IES from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th.

IES Trading Up 2.5 %

The firm has a fifty day moving average price of $201.36 and a 200 day moving average price of $169.74. The firm has a market cap of $5.85 billion, a PE ratio of 34.39 and a beta of 1.37.

IES declared that its Board of Directors has authorized a stock buyback program on Friday, August 2nd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In related news, CFO Tracy Mclauchlin sold 5,000 shares of the firm'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 completion of the transaction, the chief financial officer now directly owns 64,377 shares in the company, valued at $11,377,347.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of the company's 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 of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Tracy Mclauchlin sold 5,000 shares of IES stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $176.73, for a total value of $883,650.00. Following the completion of the transaction, the chief financial officer now owns 64,377 shares of the company's stock, valued at approximately $11,377,347.21. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,208 shares of company stock valued at $17,850,857. 59.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On IES

A number of hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its stake in shares of IES by 5,687.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,794 shares of the technology company's stock worth $218,000 after buying an additional 1,763 shares during the period. BNP Paribas Financial Markets lifted its position in shares of IES by 31.1% during the 1st quarter. BNP Paribas Financial Markets now owns 20,727 shares of the technology company's stock worth $2,521,000 after purchasing an additional 4,913 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of IES during the first quarter worth $528,000. Susquehanna Portfolio Strategies LLC acquired a new position in shares of IES during the first quarter worth $207,000. Finally, Russell Investments Group Ltd. increased its holdings in IES by 14.6% in the first quarter. Russell Investments Group Ltd. now owns 13,712 shares of the technology company's stock valued at $1,668,000 after buying an additional 1,746 shares during the last quarter. 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.