StockNews.com Lowers IES (NASDAQ:IESC) to Buy

StockNews.com lowered shares of IES (NASDAQ:IESC) from a strong-buy rating to a buy rating in a report published on Wednesday.

IES Price Performance

Shares of IESC stock opened at $164.01 on Wednesday. IES has a one year low of $59.75 and a one year high of $184.38. The company has a market capitalization of $3.32 billion, a P/E ratio of 24.74 and a beta of 1.36. The company’s 50-day simple moving average is $143.01 and its two-hundred day simple moving average is $129.25.

IES (NASDAQ:IESC) last posted its earnings results on Friday, August 2nd. The technology company reported $2.67 EPS for the quarter. IES had a net margin of 5.27% and a return on equity of 30.22%. The company had revenue of $768.40 million during the quarter.

Insiders Place Their Bets

In related news, CEO Jeffrey L. Et Al Gendell sold 32,496 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $136.06, for a total value of $4,421,405.76. Following the transaction, the chief executive officer now directly owns 11,352,349 shares of the company’s stock, valued at approximately $1,544,600,604.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jeffrey L. Et Al Gendell sold 32,496 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $136.06, for a total value of $4,421,405.76. Following the completion of the sale, the chief executive officer now owns 11,352,349 shares of the company’s stock, valued at $1,544,600,604.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 11,134,087 shares in the company, valued at approximately $1,788,245,713.07. The disclosure for this sale can be found here. Over the last quarter, insiders sold 170,515 shares of company stock worth $24,125,379. Company insiders own 59.19% of the company’s stock.

Hedge Funds Weigh In On IES

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quest Partners LLC increased its holdings in IES by 41.0% in the second quarter. Quest Partners LLC now owns 296 shares of the technology company’s stock valued at $41,000 after buying an additional 86 shares during the last quarter. Ellsworth Advisors LLC increased its holdings in shares of IES by 2.7% in the 2nd quarter. Ellsworth Advisors LLC now owns 5,806 shares of the technology company’s stock valued at $809,000 after acquiring an additional 151 shares during the last quarter. Federated Hermes Inc. raised its position in shares of IES by 258.7% during the 2nd quarter. Federated Hermes Inc. now owns 269 shares of the technology company’s stock worth $37,000 after acquiring an additional 194 shares in the last quarter. Rhumbline Advisers lifted its stake in IES by 1.6% during the second quarter. Rhumbline Advisers now owns 12,400 shares of the technology company’s stock worth $1,728,000 after purchasing an additional 197 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its holdings in IES by 11.5% in the second quarter. Ritholtz Wealth Management now owns 3,140 shares of the technology company’s stock valued at $437,000 after purchasing an additional 324 shares in the last quarter. 86.60% of the stock is owned by institutional investors and hedge funds.

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.