IES (NASDAQ:IESC) Upgraded at StockNews.com

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

IES Trading Down 2.5 %

NASDAQ:IESC opened at $221.28 on Thursday. IES has a twelve month low of $81.89 and a twelve month high of $320.08. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 22.37 and a beta of 1.52. The firm’s fifty day simple moving average is $244.36 and its 200 day simple moving average is $212.39.

Insider Activity

In other IES news, CEO Jeffrey L. Et Al Gendell sold 12,389 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $257.37, for a total transaction of $3,188,556.93. Following the completion of the sale, the chief executive officer now owns 10,958,900 shares in the company, valued at $2,820,492,093. The trade was a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Tracy Mclauchlin sold 5,000 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $253.02, for a total value of $1,265,100.00. Following the completion of the sale, the chief financial officer now directly owns 71,177 shares in the company, valued at $18,009,204.54. This represents a 6.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,359 shares of company stock worth $7,341,029 over the last 90 days. Company insiders own 56.76% of the company’s stock.

Institutional Investors Weigh In On IES

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC lifted its stake in IES by 4.6% during the third quarter. FMR LLC now owns 1,476,238 shares of the technology company’s stock valued at $294,687,000 after purchasing an additional 65,145 shares during the last quarter. Royce & Associates LP boosted its stake in shares of IES by 15.1% during the 3rd quarter. Royce & Associates LP now owns 294,808 shares of the technology company’s stock worth $58,850,000 after acquiring an additional 38,783 shares in the last quarter. State Street Corp grew its holdings in shares of IES by 3.2% in the 3rd quarter. State Street Corp now owns 209,943 shares of the technology company’s stock worth $41,909,000 after acquiring an additional 6,492 shares during the last quarter. Geode Capital Management LLC raised its position in shares of IES by 0.3% during the third quarter. Geode Capital Management LLC now owns 209,146 shares of the technology company’s stock worth $41,757,000 after purchasing an additional 623 shares during the period. Finally, Franklin Resources Inc. increased its stake in IES by 79.3% in the 3rd quarter. Franklin Resources Inc. now owns 155,426 shares of the technology company’s stock worth $31,026,000 after purchasing an additional 68,750 shares in the last quarter. 86.60% of the stock is currently owned by institutional investors.

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.