IES (NASDAQ:IESC) Sets New 52-Week High – Time to Buy?

IES Holdings, Inc. (NASDAQ:IESC) reached a new 52-week high on Tuesday . The company traded as high as $318.99 and last traded at $315.77, with a volume of 90597 shares traded. The stock had previously closed at $279.68.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut IES from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th.

IES Trading Up 8.4 %

The stock has a market cap of $6.06 billion, a P/E ratio of 31.93 and a beta of 1.37. The firm’s fifty day moving average is $226.74 and its 200 day moving average is $179.27.

IES declared that its board has initiated a stock repurchase program on Friday, August 2nd that authorizes the company to buyback $200.00 million in outstanding 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 often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at IES

In related news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 10,934,845 shares in the company, valued at $1,751,762,169. This trade represents a 0.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Todd M. Cleveland sold 10,000 shares of the business’s stock in a transaction on 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 completion of the sale, the director now directly owns 104,654 shares in the company, valued at approximately $16,071,714.78. This represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 105,208 shares of company stock valued at $16,967,207. 59.19% of the stock is owned by corporate insiders.

Institutional Trading of IES

Several hedge funds have recently modified their holdings of the company. Gladius Capital Management LP bought a new stake in IES during the 3rd quarter worth about $44,000. Federated Hermes Inc. raised its position in IES by 258.7% in the 2nd quarter. Federated Hermes Inc. now owns 269 shares of the technology company’s stock worth $37,000 after purchasing an additional 194 shares during the last quarter. Quest Partners LLC lifted its holdings in IES by 41.0% during the 2nd quarter. Quest Partners LLC now owns 296 shares of the technology company’s stock worth $41,000 after buying an additional 86 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in IES in the 2nd quarter valued at $48,000. Finally, CWM LLC increased its stake in shares of IES by 252.7% in the 2nd quarter. CWM LLC now owns 582 shares of the technology company’s stock valued at $81,000 after buying an additional 417 shares during the period. Institutional investors and hedge funds 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.