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

StockNews.com downgraded shares of IES (NASDAQ:IESC) from a buy rating to a hold rating in a research report released on Tuesday morning.

IES Stock Down 3.6 %

Shares of IES stock opened at $219.94 on Tuesday. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 33.17 and a beta of 1.38. The business has a fifty day simple moving average of $181.05 and a 200-day simple moving average of $156.18. IES has a fifty-two week low of $59.75 and a fifty-two week high of $234.81.

IES (NASDAQ:IESC) last announced its earnings results on Friday, August 2nd. The technology company reported $2.67 earnings per share (EPS) for the quarter. The company 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 program on Friday, August 2nd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other IES news, Director David B. Gendell sold 10,000 shares of IES stock in a transaction on Friday, August 30th. The stock was sold at an average price of $187.26, for a total value of $1,872,600.00. Following the completion of the transaction, the director now owns 127,976 shares in the company, valued at approximately $23,964,785.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the business’s 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 sale, the chief executive officer now directly owns 11,134,087 shares in the company, valued at $1,788,245,713.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $1,872,600.00. Following the completion of the sale, the director now owns 127,976 shares in the company, valued at approximately $23,964,785.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 160,966 shares of company stock worth $26,003,099 in the last 90 days. 59.19% of the stock is owned by company insiders.

Institutional Trading of IES

Several institutional investors and hedge funds have recently bought and sold shares of the business. Hennessy Advisors Inc. acquired a new position in shares of IES in the second quarter valued at approximately $9,558,000. Apis Capital Advisors LLC bought a new stake in IES during the second quarter worth $6,409,000. Vanguard Group Inc. lifted its stake 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 last quarter. SG Americas Securities LLC bought a new stake in IES during the second quarter worth $3,328,000. Finally, Aurora Investment Counsel bought a new position in shares of IES in the 1st quarter valued at $2,584,000. Institutional investors own 86.60% of the company’s stock.

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.