IES (NASDAQ:IESC) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen lowered shares of IES (NASDAQ:IESC) from a strong-buy rating to a buy rating in a research report released on Saturday morning.

IESC has been the subject of several other reports. Weiss Ratings reissued a “buy (b)” rating on shares of IES in a report on Monday, December 22nd. Loop Capital set a $458.00 price target on IES in a research report on Tuesday. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $458.00.

IES Price Performance

NASDAQ IESC opened at $455.88 on Friday. The business’s fifty day moving average is $427.07 and its 200-day moving average is $391.18. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of 27.12 and a beta of 1.72. IES has a one year low of $146.51 and a one year high of $488.62.

IES (NASDAQ:IESC) last released its earnings results on Friday, January 30th. The technology company reported $3.71 earnings per share for the quarter, missing analysts’ consensus estimates of $3.94 by ($0.23). IES had a net margin of 9.70% and a return on equity of 35.62%. The company had revenue of $870.96 million during the quarter, compared to analysts’ expectations of $876.00 million.

Insider Buying and Selling at IES

In other IES news, Director David B. Gendell sold 17,867 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $452.20, for a total value of $8,079,457.40. Following the sale, the director directly owned 70,669 shares in the company, valued at $31,956,521.80. This represents a 20.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Mary K. Newman sold 2,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $477.86, for a total transaction of $955,720.00. Following the completion of the transaction, the chief accounting officer directly owned 21,843 shares of the company’s stock, valued at approximately $10,437,895.98. The trade was a 8.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 217,661 shares of company stock worth $96,387,385. 56.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IES

Institutional investors have recently added to or reduced their stakes in the business. Orion Porfolio Solutions LLC raised its holdings in IES by 85.0% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 5,649 shares of the technology company’s stock valued at $1,673,000 after buying an additional 2,596 shares during the last quarter. Atria Investments Inc purchased a new position in shares of IES in the second quarter valued at about $291,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of IES during the second quarter valued at about $243,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of IES by 50.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 110,313 shares of the technology company’s stock worth $32,678,000 after purchasing an additional 36,845 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of IES by 4.8% in the second quarter. Geode Capital Management LLC now owns 263,993 shares of the technology company’s stock worth $78,210,000 after purchasing an additional 12,026 shares during the last quarter. 86.60% of the stock is currently owned by institutional investors.

IES Company Profile

IES Holdings, Inc (NASDAQ: IESC) is a specialty contractor providing integrated electrical and mechanical construction services, engineering, and systems integration across North America. The company focuses on delivering end-to-end solutions for commercial, industrial and mission-critical facilities, combining design, build, commission and maintenance capabilities to serve a wide range of markets.

Through its subsidiaries, IES offers a comprehensive portfolio of services including electrical distribution and infrastructure, mechanical contracting, process piping, controls and automation, energy management, and ongoing service and maintenance.