IES (NASDAQ:IESC) Reaches New 12-Month High – What’s Next?

IES Holdings, Inc. (NASDAQ:IESC)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $318.99 and last traded at $315.77, with a volume of 90597 shares. The stock had previously closed at $279.68.

Analyst Ratings Changes

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

IES Stock Down 4.2 %

The stock has a 50 day moving average of $229.44 and a 200 day moving average of $180.10. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of 28.63 and a beta of 1.37.

IES announced that its Board of Directors has authorized a share buyback program on Friday, August 2nd that permits the company to buyback $200.00 million in shares. This buyback authorization permits the technology company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Todd M. Cleveland sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $153.57, for a total transaction of $1,535,700.00. Following the completion of the transaction, the director now owns 104,654 shares of the company’s stock, valued at approximately $16,071,714.78. The trade was a 8.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of IES stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $160.20, for a total value of $5,982,989.40. Following the completion of the transaction, the chief executive officer now owns 10,934,845 shares in the company, valued at approximately $1,751,762,169. This represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 105,208 shares of company stock worth $16,967,207. Corporate insiders own 59.19% of the company’s stock.

Hedge Funds Weigh In On IES

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. grew 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 buying an additional 194 shares during the last quarter. Quest Partners LLC lifted its stake in shares of 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 acquiring an additional 86 shares during the last quarter. Gladius Capital Management LP acquired a new stake in shares of IES during the 3rd quarter valued at $44,000. Contravisory Investment Management Inc. bought a new stake in IES during the 2nd quarter worth $48,000. Finally, CWM LLC increased its holdings in IES by 252.7% in the 2nd quarter. CWM LLC now owns 582 shares of the technology company’s stock worth $81,000 after purchasing an additional 417 shares in the last quarter. Institutional investors 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.