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

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

IES Stock Performance

Shares of IESC stock opened at $139.33 on Friday. The stock has a market cap of $2.82 billion, a PE ratio of 21.02 and a beta of 1.36. The business’s fifty day moving average is $145.98 and its 200-day moving average is $115.08. IES has a 1 year low of $53.00 and a 1 year high of $184.38.

IES (NASDAQ:IESC) last issued its earnings results on Friday, May 3rd. The technology company reported $2.29 earnings per share (EPS) for the quarter. The business had revenue of $705.80 million for the quarter. IES had a return on equity of 30.22% and a net margin of 5.27%.

Insider Buying and Selling

In related news, CEO Jeffrey L. Et Al Gendell sold 44,449 shares of IES stock in a transaction on Monday, June 10th. The stock was sold at an average price of $130.03, for a total value of $5,779,703.47. Following the transaction, the chief executive officer now directly owns 11,233,970 shares in the company, valued at approximately $1,460,753,119.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other IES news, CEO Jeffrey L. Et Al Gendell sold 44,449 shares of IES stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $130.03, for a total transaction of $5,779,703.47. Following the transaction, the chief executive officer now owns 11,233,970 shares of the company’s stock, valued at approximately $1,460,753,119.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Matthew J. Simmes sold 14,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $170.52, for a total value of $2,387,280.00. Following the completion of the transaction, the chief operating officer now owns 73,110 shares in the company, valued at approximately $12,466,717.20. The disclosure for this sale can be found here. Insiders have sold 133,757 shares of company stock worth $18,360,416 in the last three months. 59.19% of the stock is currently owned by insiders.

Institutional Trading of IES

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in IES by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 728,832 shares of the technology company’s stock worth $57,739,000 after purchasing an additional 7,680 shares in the last quarter. Vanguard Group Inc. lifted its position in IES by 10.0% during the 1st quarter. Vanguard Group Inc. now owns 479,315 shares of the technology company’s stock worth $58,304,000 after acquiring an additional 43,634 shares during the last quarter. Breach Inlet Capital Management LLC acquired a new position in IES during the 4th quarter worth $10,239,000. Charles Schwab Investment Management Inc. lifted its position in IES by 12.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 87,243 shares of the technology company’s stock worth $6,911,000 after acquiring an additional 9,463 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in IES by 302.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 79,388 shares of the technology company’s stock worth $9,657,000 after acquiring an additional 59,643 shares during the last quarter. 86.60% of the stock is currently owned by hedge funds and other institutional investors.

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.