IES (NASDAQ:IESC) Reaches New 1-Year High – Here’s What Happened

Shares of IES Holdings, Inc. (NASDAQ:IESC) reached a new 52-week high during trading on Monday . The stock traded as high as $235.71 and last traded at $235.71, with a volume of 10096 shares traded. The stock had previously closed at $232.63.

Wall Street Analysts Forecast Growth

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

IES Trading Up 3.3 %

The firm’s fifty day moving average price is $194.53 and its 200 day moving average price is $165.68. The firm has a market capitalization of $4.92 billion, a PE ratio of 28.98 and a beta of 1.37.

IES declared that its Board of Directors has authorized a stock repurchase program on Friday, August 2nd that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Todd M. Cleveland sold 10,000 shares of IES stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $153.57, for a total transaction of $1,535,700.00. Following the completion of the sale, the director now directly owns 104,654 shares in the company, valued at $16,071,714.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other IES news, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $158.29, for a total transaction of $7,575,917.69. Following the transaction, the chief executive officer now directly owns 11,036,984 shares of the company’s stock, valued at $1,747,044,197.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Todd M. Cleveland sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $153.57, for a total value of $1,535,700.00. Following the transaction, the director now owns 104,654 shares in the company, valued at approximately $16,071,714.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,208 shares of company stock valued at $17,850,857 in the last three months. Insiders own 59.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in IES by 10.0% during the first quarter. Vanguard Group Inc. now owns 479,315 shares of the technology company’s stock worth $58,304,000 after purchasing an additional 43,634 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of IES by 2.8% during the 2nd quarter. Renaissance Technologies LLC now owns 186,532 shares of the technology company’s stock worth $25,990,000 after buying an additional 5,100 shares during the period. Assenagon Asset Management S.A. grew its stake in IES by 12.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 89,330 shares of the technology company’s stock valued at $12,446,000 after buying an additional 9,942 shares during the last quarter. Kennedy Capital Management LLC raised its holdings in IES by 11.4% in the 1st quarter. Kennedy Capital Management LLC now owns 75,963 shares of the technology company’s stock worth $9,240,000 after acquiring an additional 7,800 shares during the period. Finally, Hennessy Advisors Inc. acquired a new position in IES during the 2nd quarter worth $9,558,000. 86.60% of the stock is owned by institutional investors.

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.