IES (NASDAQ:IESC) Cut to “Buy” at StockNews.com

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

IES Stock Performance

Shares of IESC stock traded up $2.13 during midday trading on Tuesday, reaching $170.96. 175,311 shares of the company were exchanged, compared to its average volume of 110,630. The company’s 50 day moving average price is $121.55 and its two-hundred day moving average price is $93.80. The company has a market cap of $3.46 billion, a P/E ratio of 25.79 and a beta of 1.31. IES has a 12 month low of $43.20 and a 12 month high of $174.81.

IES (NASDAQ:IESC) last posted its quarterly earnings data on Friday, February 2nd. The technology company reported $1.87 EPS for the quarter. The business had revenue of $634.40 million for the quarter. IES had a net margin of 5.27% and a return on equity of 31.62%.

Insider Transactions at IES

In related news, CEO Jeffrey L. Et Al Gendell sold 28,171 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $93.27, for a total transaction of $2,627,509.17. Following the completion of the transaction, the chief executive officer now owns 11,428,544 shares of the company’s stock, valued at $1,065,940,298.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jeffrey L. Et Al Gendell sold 28,171 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $93.27, for a total transaction of $2,627,509.17. Following the completion of the sale, the chief executive officer now directly owns 11,428,544 shares of the company’s stock, valued at $1,065,940,298.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Matthew J. Simmes sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $102.04, for a total transaction of $408,160.00. Following the sale, the chief operating officer now owns 87,110 shares of the company’s stock, valued at $8,888,704.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,294 shares of company stock valued at $9,546,266. Corporate insiders own 59.19% of the company’s stock.

Institutional Investors Weigh In On IES

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its stake in IES by 1,078.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 589 shares of the technology company’s stock worth $39,000 after purchasing an additional 539 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of IES in the third quarter worth approximately $41,000. Sunbelt Securities Inc. acquired a new stake in shares of IES during the first quarter valued at approximately $48,000. Quest Partners LLC purchased a new stake in shares of IES in the 4th quarter valued at approximately $134,000. Finally, Susquehanna Portfolio Strategies LLC acquired a new position in IES in the 1st quarter worth approximately $207,000. 86.60% of the stock is owned by institutional investors and hedge funds.

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.