IES (NASDAQ:IESC) Hits New 52-Week High - Time to Buy?

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report)'s share price reached a new 52-week high during trading on Friday . The stock traded as high as $219.62 and last traded at $218.86, with a volume of 70091 shares. The stock had previously closed at $210.96.

Analyst Ratings Changes

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

IES Stock Performance

The firm has a market capitalization of $4.39 billion, a P/E ratio of 24.85 and a beta of 1.38. The business has a fifty day moving average of $176.95 and a 200-day moving average of $153.47.

IES (NASDAQ:IESC - Get Free Report) last released its quarterly 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 of Directors has initiated a stock repurchase plan on Friday, August 2nd that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 5.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

Insider Transactions at IES

In related news, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of IES stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $160.61, for a total transaction of $8,152,242.38. Following the transaction, the chief executive officer now directly owns 11,134,087 shares of the company's stock, valued at $1,788,245,713.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other IES news, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of IES 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 owns 11,134,087 shares in the company, valued at approximately $1,788,245,713.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $160.20, for a total value of $5,982,989.40. Following the sale, the chief executive officer now owns 10,934,845 shares of the company's stock, valued at $1,751,762,169. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 160,966 shares of company stock valued at $26,003,099. Corporate insiders own 59.19% of the company's stock.

Hedge Funds Weigh In On IES

A number of institutional investors have recently bought and sold shares of IESC. Vanguard Group Inc. increased its position in shares of IES by 10.0% in the first quarter. Vanguard Group Inc. now owns 479,315 shares of the technology company's stock worth $58,304,000 after acquiring an additional 43,634 shares in the last quarter. Renaissance Technologies LLC boosted its stake in IES by 2.8% in the 2nd quarter. Renaissance Technologies LLC now owns 186,532 shares of the technology company's stock worth $25,990,000 after purchasing an additional 5,100 shares during the period. Assenagon Asset Management S.A. grew its position in IES by 12.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 89,330 shares of the technology company's stock worth $12,446,000 after purchasing an additional 9,942 shares in the last quarter. Kennedy Capital Management LLC lifted its holdings in shares of IES by 11.4% in the first quarter. Kennedy Capital Management LLC now owns 75,963 shares of the technology company's stock valued at $9,240,000 after purchasing an additional 7,800 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new stake in shares of IES in the second quarter valued at $9,558,000. 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.

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