StockNews.com Upgrades IES (NASDAQ:IESC) to "Buy"

StockNews.com upgraded shares of IES (NASDAQ:IESC - Free Report) from a hold rating to a buy rating in a research report report published on Wednesday morning.

IES Price Performance

IESC stock traded down $2.79 during mid-day trading on Wednesday, reaching $210.78. 141,958 shares of the company's stock were exchanged, compared to its average volume of 134,006. IES has a 12-month low of $59.75 and a 12-month high of $234.81. The stock's 50 day moving average is $187.14 and its 200 day moving average is $159.65. The company has a market cap of $4.27 billion, a price-to-earnings ratio of 31.37 and a beta of 1.38.

IES (NASDAQ:IESC - Get Free Report) last announced its earnings results on Friday, August 2nd. The technology company reported $2.67 earnings per share (EPS) for the quarter. The firm had revenue of $768.40 million for 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 buyback plan on Friday, August 2nd that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the technology company to purchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Insider Transactions at IES

In other news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 10,934,845 shares of the company's stock, valued at approximately $1,751,762,169. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other IES news, CFO Tracy Mclauchlin sold 5,000 shares of the firm's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $176.73, for a total value of $883,650.00. Following the completion of the sale, the chief financial officer now directly owns 64,377 shares of the company's stock, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of IES stock in a transaction on Monday, September 16th. The stock was sold at an average price of $160.20, for a total value of $5,982,989.40. Following the transaction, the chief executive officer now owns 10,934,845 shares in the company, valued at approximately $1,751,762,169. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 160,966 shares of company stock valued at $26,003,099 over the last 90 days. 59.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On IES

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in IES in the second quarter valued at $3,328,000. BNP Paribas Financial Markets lifted its position in IES by 31.1% in the first 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 last quarter. Truvestments Capital LLC acquired a new position in IES in the first quarter valued at about $499,000. Acadian Asset Management LLC boosted its stake in IES by 1,863.1% during 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 during the period. Finally, Janus Henderson Group PLC increased its position in shares of IES by 27.4% during the first quarter. Janus Henderson Group PLC now owns 26,609 shares of the technology company's stock valued at $3,237,000 after acquiring an additional 5,720 shares during the last quarter. 86.60% of the stock is currently owned by institutional investors and hedge funds.

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.