IES (NASDAQ:IESC) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of IES (NASDAQ:IESC) from a buy rating to a strong-buy rating in a research note published on Thursday.

IES Stock Up 1.2 %

IESC opened at $160.50 on Thursday. IES has a 52 week low of $46.46 and a 52 week high of $184.38. The business has a fifty day simple moving average of $136.48 and a 200-day simple moving average of $103.04. The firm has a market cap of $3.25 billion, a P/E ratio of 24.21 and a beta of 1.31.

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

Insider Transactions at IES

In other news, COO Matthew J. Simmes sold 14,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $170.52, for a total transaction of $2,387,280.00. Following the completion of the transaction, the chief operating officer now directly owns 73,110 shares in the company, valued at $12,466,717.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, COO Matthew J. Simmes sold 14,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $170.52, for a total value of $2,387,280.00. Following the sale, the chief operating officer now directly owns 73,110 shares in the company, valued at $12,466,717.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Todd M. Cleveland sold 11,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $114.47, for a total value of $1,259,170.00. Following the completion of the sale, the director now owns 131,581 shares in the company, valued at $15,062,077.07. The disclosure for this sale can be found here. Insiders sold a total of 47,513 shares of company stock worth $6,186,467 over the last ninety days. Company insiders own 59.19% of the company’s stock.

Institutional Trading of IES

Hedge funds have recently modified their holdings of the stock. Sunbelt Securities Inc. acquired a new stake in shares of IES in the first quarter valued at $48,000. Allspring Global Investments Holdings LLC raised its stake in IES by 1,078.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 589 shares of the technology company’s stock valued at $39,000 after buying an additional 539 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in IES in the third quarter valued at $41,000. EntryPoint Capital LLC raised its stake in IES by 217.0% in the first quarter. EntryPoint Capital LLC now owns 1,065 shares of the technology company’s stock valued at $130,000 after buying an additional 729 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in IES in the fourth quarter valued at $134,000. 86.60% of the stock is currently 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.