IES (NASDAQ:IESC) Stock Rating Lowered by StockNews.com

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

IES Price Performance

NASDAQ IESC opened at $263.56 on Tuesday. IES has a fifty-two week low of $60.32 and a fifty-two week high of $267.80. The stock’s 50-day moving average is $195.82 and its two-hundred day moving average is $166.60. The firm has a market cap of $5.27 billion, a P/E ratio of 31.04 and a beta of 1.37.

IES announced that its board has authorized a share repurchase program on Friday, August 2nd that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 5.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other IES news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of IES stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $160.20, for a total transaction of $5,982,989.40. Following the sale, the chief executive officer now directly owns 10,934,845 shares of the company’s stock, valued at approximately $1,751,762,169. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director David B. Gendell sold 10,000 shares of IES stock in a transaction that occurred on 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of IES stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $160.20, for a total transaction of $5,982,989.40. Following the completion of the transaction, the chief executive officer now owns 10,934,845 shares of the company’s stock, valued at $1,751,762,169. This trade represents a 0.00 % decrease in their position. 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 over the last three months. 59.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Quest Partners LLC raised its position in IES by 41.0% in the 2nd quarter. Quest Partners LLC now owns 296 shares of the technology company’s stock worth $41,000 after purchasing an additional 86 shares during the last quarter. Andina Capital Management LLC raised its position in IES by 4.0% in the 3rd quarter. Andina Capital Management LLC now owns 2,496 shares of the technology company’s stock worth $498,000 after purchasing an additional 96 shares during the last quarter. CWM LLC raised its position in IES by 17.2% in the 3rd quarter. CWM LLC now owns 682 shares of the technology company’s stock worth $136,000 after purchasing an additional 100 shares during the last quarter. Ellsworth Advisors LLC raised its position in shares of IES by 2.7% during 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. Finally, Cetera Investment Advisers raised its position in shares of IES by 2.2% during the 2nd quarter. Cetera Investment Advisers now owns 8,690 shares of the technology company’s stock valued at $1,211,000 after acquiring an additional 190 shares during the last quarter. Institutional investors 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.