IES (NASDAQ:IESC) Cut to Hold at StockNews.com

IES (NASDAQ:IESC) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

IES Stock Up 3.3 %

Shares of NASDAQ:IESC traded up $7.75 during trading on Tuesday, hitting $246.06. 142,004 shares of the company traded hands, compared to its average volume of 132,274. IES has a one year low of $60.32 and a one year high of $254.99. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 28.98 and a beta of 1.37. The business’s fifty day moving average is $194.53 and its 200-day moving average is $165.68.

IES (NASDAQ:IESC) last announced its quarterly earnings data 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 return on equity of 34.38% and a net margin of 6.30%.

IES declared that its board has initiated a share repurchase plan on Friday, August 2nd that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at IES

In other IES news, Director David B. Gendell sold 10,000 shares of IES stock in a transaction on Friday, August 30th. The shares were sold at an average price of $187.26, for a total transaction of $1,872,600.00. Following the completion of the sale, the director now owns 127,976 shares of the company’s stock, valued at approximately $23,964,785.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other IES news, Director David B. Gendell sold 10,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $187.26, for a total transaction of $1,872,600.00. Following the sale, the director now directly owns 127,976 shares of the company’s stock, valued at $23,964,785.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $160.61, for a total transaction of $8,152,242.38. Following the completion of the transaction, the chief executive officer now owns 11,134,087 shares in the company, valued at approximately $1,788,245,713.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 160,966 shares of company stock valued at $26,003,099 over the last quarter. Corporate insiders own 59.19% of the company’s stock.

Hedge Funds Weigh In On IES

Hedge funds have recently modified their holdings of the business. Federated Hermes Inc. increased its position in shares of IES by 258.7% during the second 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. Quest Partners LLC raised its position in shares of IES by 41.0% in the second quarter. Quest Partners LLC now owns 296 shares of the technology company’s stock worth $41,000 after buying an additional 86 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in IES in the second quarter valued at $48,000. CWM LLC increased its stake in IES by 252.7% in the second quarter. CWM LLC now owns 582 shares of the technology company’s stock valued at $81,000 after acquiring an additional 417 shares during the last quarter. Finally, EntryPoint Capital LLC grew its stake in shares of IES by 217.0% during the first quarter. EntryPoint Capital LLC now owns 1,065 shares of the technology company’s stock valued at $130,000 after buying an additional 729 shares during the last quarter. Institutional investors and hedge funds 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.