IES (NASDAQ:IESC) Hits New 1-Year High – Still a Buy?

Shares of IES Holdings, Inc. (NASDAQ:IESC) reached a new 52-week high on Friday . The company traded as high as $219.62 and last traded at $218.86, with a volume of 70091 shares. The stock had previously closed at $210.96.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of IES from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th.

IES Stock Up 4.2 %

The business’s fifty day simple moving average is $178.25 and its two-hundred day simple moving average is $154.47. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 33.15 and a beta of 1.38.

IES (NASDAQ:IESC) last released its quarterly earnings data on Friday, August 2nd. The technology company reported $2.67 earnings per share for the quarter. IES had a net margin of 6.30% and a return on equity of 34.38%. The company had revenue of $768.40 million for the quarter.

IES declared that its Board of Directors has initiated a share repurchase program on Friday, August 2nd that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity at IES

In related news, Director David B. Gendell sold 10,000 shares of IES stock in a transaction 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 transaction, the director now directly owns 127,976 shares in the company, valued at $23,964,785.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other IES news, CFO Tracy Mclauchlin sold 5,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $176.73, for a total transaction of $883,650.00. Following the sale, the chief financial officer now directly owns 64,377 shares in the company, valued at approximately $11,377,347.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David B. Gendell sold 10,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $187.26, for a total transaction of $1,872,600.00. Following the transaction, the director now directly 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 have sold a total of 160,966 shares of company stock worth $26,003,099 in the last three months. Insiders own 59.19% of the company’s stock.

Hedge Funds Weigh In On IES

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of 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 purchasing an additional 43,634 shares during the period. Renaissance Technologies LLC grew its stake in shares of IES by 2.8% during the 2nd quarter. Renaissance Technologies LLC now owns 186,532 shares of the technology company’s stock worth $25,990,000 after purchasing an additional 5,100 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of IES by 12.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 89,330 shares of the technology company’s stock worth $12,446,000 after purchasing an additional 9,942 shares during the period. Kennedy Capital Management LLC grew its stake in shares of IES by 11.4% during the 1st quarter. Kennedy Capital Management LLC now owns 75,963 shares of the technology company’s stock worth $9,240,000 after purchasing an additional 7,800 shares during the period. Finally, Hennessy Advisors Inc. acquired a new position in shares of IES during the 2nd quarter worth $9,558,000. 86.60% of the stock is owned by institutional investors and hedge funds.

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.