IES (NASDAQ:IESC) Downgraded by StockNews.com

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

IES Trading Down 3.6 %

IESC stock traded down $8.10 during trading on Tuesday, reaching $219.94. 129,938 shares of the stock were exchanged, compared to its average volume of 134,977. The business has a 50 day moving average price of $181.05 and a 200-day moving average price of $156.18. IES has a 1 year low of $59.75 and a 1 year high of $234.81. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 33.17 and a beta of 1.38.

IES (NASDAQ:IESC) last issued its earnings results on Friday, August 2nd. The technology company reported $2.67 EPS 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 approved 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 purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other IES news, Director Todd M. Cleveland sold 10,000 shares of IES stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $153.57, for a total transaction of $1,535,700.00. Following the completion of the sale, the director now directly owns 104,654 shares in the company, valued at $16,071,714.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Tracy Mclauchlin sold 5,000 shares of IES stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $176.73, for a total value of $883,650.00. Following the completion of the transaction, the chief financial officer now owns 64,377 shares in the company, valued at approximately $11,377,347.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Todd M. Cleveland sold 10,000 shares of IES stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $153.57, for a total transaction of $1,535,700.00. Following the completion of the transaction, the director now owns 104,654 shares of the company’s stock, valued at $16,071,714.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 160,966 shares of company stock valued at $26,003,099 over the last ninety days. Company insiders own 59.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Quest Partners LLC grew its holdings in shares of IES by 41.0% in the second quarter. Quest Partners LLC now owns 296 shares of the technology company’s stock valued at $41,000 after purchasing an additional 86 shares in the last quarter. CWM LLC grew its holdings in shares of IES by 17.2% in the third quarter. CWM LLC now owns 682 shares of the technology company’s stock valued at $136,000 after purchasing an additional 100 shares in the last quarter. Ellsworth Advisors LLC grew its holdings in shares of IES by 2.7% in the second quarter. Ellsworth Advisors LLC now owns 5,806 shares of the technology company’s stock valued at $809,000 after purchasing an additional 151 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of IES by 2.2% in the second quarter. Cetera Investment Advisers now owns 8,690 shares of the technology company’s stock valued at $1,211,000 after purchasing an additional 190 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of IES by 258.7% in the second quarter. Federated Hermes Inc. now owns 269 shares of the technology company’s stock valued at $37,000 after purchasing an additional 194 shares in the last quarter. 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.