IES (NASDAQ:IESC) Reaches New 52-Week High – Should You Buy?

IES Holdings, Inc. (NASDAQ:IESC) shares hit a new 52-week high on Monday . The company traded as high as $235.71 and last traded at $235.71, with a volume of 10096 shares. The stock had previously closed at $232.63.

Analyst Ratings Changes

Separately, StockNews.com upgraded IES from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd.

IES Stock Performance

The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 27.40 and a beta of 1.37. The business’s 50 day moving average is $193.49 and its 200 day moving average is $164.49.

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

IES announced that its Board of Directors has initiated a stock buyback plan on Friday, August 2nd that permits the company to buyback $200.00 million in shares. This buyback authorization permits the technology company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $160.20, for a total transaction of $5,982,989.40. Following the transaction, the chief executive officer now owns 10,934,845 shares in the company, valued at $1,751,762,169. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Todd M. Cleveland sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $153.57, for a total value of $1,535,700.00. Following the completion of the sale, the director now directly owns 104,654 shares in the company, valued at approximately $16,071,714.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $160.20, for a total transaction of $5,982,989.40. Following the transaction, the chief executive officer now directly owns 10,934,845 shares of the company’s stock, valued at approximately $1,751,762,169. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 160,966 shares of company stock valued at $26,003,099 over the last ninety days. Corporate insiders own 59.19% of the company’s stock.

Hedge Funds Weigh In On IES

Several large investors have recently made changes to their positions in the business. Hennessy Advisors Inc. bought a new position in IES in the 2nd quarter worth approximately $9,558,000. F M Investments LLC acquired a new stake in IES in the 3rd quarter worth $10,887,000. Apis Capital Advisors LLC acquired a new position in shares of IES during the second quarter valued at about $6,409,000. Vanguard Group Inc. lifted its stake in shares of IES by 10.0% in the first quarter. Vanguard Group Inc. now owns 479,315 shares of the technology company’s stock valued at $58,304,000 after buying an additional 43,634 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in IES during the second quarter worth about $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.