IES (NASDAQ:IESC) Trading Up 6.3% – Should You Buy?

IES Holdings, Inc. (NASDAQ:IESC) shares were up 6.3% during trading on Monday . The stock traded as high as $233.55 and last traded at $233.55. Approximately 41,626 shares traded hands during trading, a decline of 69% from the average daily volume of 134,223 shares. The stock had previously closed at $219.79.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of IES from a “buy” rating to a “hold” rating in a research note on Tuesday.

IES Trading Up 2.3 %

The firm has a 50 day moving average of $181.05 and a two-hundred day moving average of $156.18. The stock has a market capitalization of $4.56 billion, a PE ratio of 33.17 and a beta of 1.38.

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

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

Insiders Place Their Bets

In other IES 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 value of $8,152,242.38. Following the completion of the sale, the chief executive officer now owns 11,134,087 shares in the company, valued at $1,788,245,713.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the company’s stock in a transaction on 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 completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of IES stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $158.29, for a total value of $7,575,917.69. Following the completion of the transaction, the chief executive officer now owns 11,036,984 shares in the company, valued at $1,747,044,197.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 160,966 shares of company stock valued at $26,003,099 in the last quarter. 59.19% of the stock is currently owned by company insiders.

Institutional Trading of IES

Several large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new stake in IES in the fourth quarter valued at approximately $259,000. Quadrature Capital Ltd increased its stake in IES by 11.4% during the 4th quarter. Quadrature Capital Ltd now owns 16,537 shares of the technology company’s stock worth $1,310,000 after buying an additional 1,687 shares during the period. Sunbelt Securities Inc. acquired a new position in IES in the 1st quarter worth $48,000. Allspring Global Investments Holdings LLC boosted its position in IES by 5,687.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,794 shares of the technology company’s stock valued at $218,000 after buying an additional 1,763 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of IES during the first quarter valued at about $505,000. 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.