IES (NASDAQ:IESC) Downgraded by StockNews.com

StockNews.com downgraded shares of IES (NASDAQ:IESC) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday morning.

IES Stock Down 1.4 %

IESC opened at $164.01 on Wednesday. IES has a 52 week low of $59.75 and a 52 week high of $184.38. The business’s 50 day moving average is $143.01 and its two-hundred day moving average is $129.25. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 24.74 and a beta of 1.36.

IES (NASDAQ:IESC) last announced its earnings results on Friday, August 2nd. The technology company reported $2.67 EPS for the quarter. The business had revenue of $768.40 million for the quarter. IES had a net margin of 5.27% and a return on equity of 30.22%.

Insider Activity at IES

In related news, CEO Jeffrey L. Et Al Gendell sold 3,251 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $160.50, for a total transaction of $521,785.50. Following the completion of the transaction, the chief executive officer now directly owns 11,406,594 shares of the company’s stock, valued at $1,830,758,337. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Jeffrey L. Et Al Gendell sold 3,251 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $160.50, for a total value of $521,785.50. Following the completion of the transaction, the chief executive officer now directly owns 11,406,594 shares of the company’s stock, valued at approximately $1,830,758,337. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey L. Et Al Gendell sold 32,496 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $136.06, for a total value of $4,421,405.76. Following the completion of the transaction, the chief executive officer now owns 11,352,349 shares of the company’s stock, valued at approximately $1,544,600,604.94. The disclosure for this sale can be found here. Insiders have sold 170,515 shares of company stock worth $24,125,379 in the last quarter. Company insiders own 59.19% of the company’s stock.

Institutional Trading of IES

Large investors have recently made changes to their positions in the stock. Breach Inlet Capital Management LLC purchased a new position in IES in the 4th quarter valued at about $10,239,000. Hennessy Advisors Inc. acquired a new position in IES in the 2nd quarter valued at $9,558,000. Assenagon Asset Management S.A. lifted its stake in shares of IES by 302.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 79,388 shares of the technology company’s stock worth $9,657,000 after purchasing an additional 59,643 shares during the period. Vanguard Group Inc. boosted its holdings in shares of IES by 10.0% during the first 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 last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of IES in the second quarter valued at $3,328,000. 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.