IES (NASDAQ:IESC) Shares Up 6.3% – Here’s Why

Shares of IES Holdings, Inc. (NASDAQ:IESC) traded up 6.3% on Monday . The company traded as high as $233.55 and last traded at $233.55. 41,626 shares traded hands during trading, a decline of 69% from the average session volume of 134,223 shares. The stock had previously closed at $219.79.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of IES from a “buy” rating to a “hold” rating in a research note on Tuesday.

IES Stock Performance

The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 33.17 and a beta of 1.38. The business’s 50 day moving average price is $181.05 and its 200-day moving average price is $156.18.

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 for the quarter. IES had a return on equity of 34.38% and a net margin of 6.30%.

IES declared that its board has approved a share repurchase program on Friday, August 2nd that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other IES news, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of IES stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $160.61, for a total value of $8,152,242.38. Following the completion of the transaction, the chief executive officer now directly owns 11,134,087 shares in the company, valued at $1,788,245,713.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other IES news, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $158.29, for a total value of $7,575,917.69. Following the sale, the chief executive officer now directly owns 11,036,984 shares in the company, valued at approximately $1,747,044,197.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $160.61, for a total transaction of $8,152,242.38. Following the transaction, the chief executive officer now owns 11,134,087 shares of the company’s stock, valued at $1,788,245,713.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 160,966 shares of company stock valued at $26,003,099. Company insiders own 59.19% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IESC. Virtu Financial LLC bought a new stake in shares of IES during the fourth quarter valued at approximately $259,000. Quadrature Capital Ltd increased its position in IES by 11.4% in the 4th quarter. Quadrature Capital Ltd now owns 16,537 shares of the technology company’s stock valued at $1,310,000 after acquiring an additional 1,687 shares during the period. Sunbelt Securities Inc. bought a new stake in IES during the 1st quarter valued at $48,000. Allspring Global Investments Holdings LLC boosted its position in IES by 5,687.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,794 shares of the technology company’s stock worth $218,000 after acquiring an additional 1,763 shares during the period. Finally, Principal Financial Group Inc. bought a new position in shares of IES in the first quarter worth $505,000. Institutional investors own 86.60% of the company’s stock.

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.