IES (NASDAQ:IESC) Hits New 52-Week High - Should You Buy?

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report)'s stock price reached a new 52-week high during trading on Friday . The company traded as high as $207.59 and last traded at $205.00, with a volume of 14507 shares traded. The stock had previously closed at $203.24.

Wall Street Analyst Weigh In

Separately, StockNews.com cut IES from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, August 7th.

IES Stock Up 1.9 %

The company's 50-day moving average price is $170.40 and its 200-day moving average price is $150.00. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of 30.71 and a beta of 1.38.

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

IES declared that its Board of Directors has initiated a stock repurchase plan on Friday, August 2nd that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 5.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Insider Transactions at IES

In other IES news, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the firm's stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $160.61, for a total value of $8,152,242.38. Following the sale, the chief executive officer now directly owns 11,134,087 shares in the company, valued at $1,788,245,713.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other IES news, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $160.61, for a total value of $8,152,242.38. Following the transaction, the chief executive officer now directly owns 11,134,087 shares in the company, valued at $1,788,245,713.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David B. Gendell sold 10,000 shares of the business'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 transaction of $1,872,600.00. Following the sale, the director now owns 127,976 shares of the company's stock, valued at $23,964,785.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 160,966 shares of company stock valued at $26,003,099. Insiders own 59.19% of the company's stock.

Hedge Funds Weigh In On IES

Several large investors have recently bought and sold shares of the stock. Federated Hermes Inc. lifted its holdings in shares of IES by 258.7% in the 2nd quarter. Federated Hermes Inc. now owns 269 shares of the technology company's stock valued at $37,000 after purchasing an additional 194 shares during the last quarter. Quest Partners LLC grew its position in shares of IES by 41.0% during the second quarter. Quest Partners LLC now owns 296 shares of the technology company's stock worth $41,000 after acquiring an additional 86 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in shares of IES in the 2nd quarter valued at $48,000. Sunbelt Securities Inc. purchased a new stake in IES in the 1st quarter valued at $48,000. Finally, CWM LLC raised its position in IES by 252.7% in the 2nd quarter. CWM LLC now owns 582 shares of the technology company's stock valued at $81,000 after purchasing an additional 417 shares during the last quarter. Institutional investors and hedge funds own 86.60% of the company's stock.

IES Company Profile

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.