IES (NASDAQ:IESC) Hits New 52-Week High – Time to Buy?

IES Holdings, Inc. (NASDAQ:IESC) shares hit a new 52-week high during trading on Monday . The stock traded as high as $292.00 and last traded at $292.00, with a volume of 798 shares changing hands. The stock had previously closed at $285.55.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded IES from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th.

IES Price Performance

The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 32.96 and a beta of 1.37. The company’s fifty day moving average price is $205.74 and its 200-day moving average price is $171.95.

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

Insider Activity at IES

In related news, CFO Tracy Mclauchlin sold 5,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $176.73, for a total transaction of $883,650.00. Following the completion of the transaction, the chief financial officer now directly owns 64,377 shares in the company, valued at $11,377,347.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director David B. Gendell sold 10,000 shares of IES stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $187.26, for a total value of $1,872,600.00. Following the completion of the transaction, the director now owns 127,976 shares in the company, valued at $23,964,785.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Tracy Mclauchlin sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $176.73, for a total value of $883,650.00. Following the completion of the sale, the chief financial officer now owns 64,377 shares of the company’s stock, valued at $11,377,347.21. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,208 shares of company stock worth $17,850,857 over the last quarter. Insiders own 59.19% of the company’s stock.

Institutional Investors Weigh In On IES

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. increased its stake in shares of IES by 258.7% during the second quarter. Federated Hermes Inc. now owns 269 shares of the technology company’s stock worth $37,000 after purchasing an additional 194 shares in the last quarter. Quest Partners LLC lifted its holdings in IES by 41.0% in the 2nd quarter. Quest Partners LLC now owns 296 shares of the technology company’s stock valued at $41,000 after purchasing an additional 86 shares in the last quarter. Gladius Capital Management LP purchased a new stake in shares of IES during the third quarter worth $44,000. Contravisory Investment Management Inc. purchased a new position in shares of IES in the second quarter worth about $48,000. Finally, CWM LLC boosted its position in IES by 252.7% during the second quarter. CWM LLC now owns 582 shares of the technology company’s stock worth $81,000 after acquiring an additional 417 shares during the last quarter. Hedge funds and other 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.