IES (NASDAQ:IESC) Upgraded by StockNews.com to “Buy” Rating

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

IES Price Performance

Shares of NASDAQ IESC opened at $252.18 on Tuesday. IES has a one year low of $76.26 and a one year high of $320.08. The firm’s 50 day simple moving average is $248.06 and its two-hundred day simple moving average is $188.56. The stock has a market capitalization of $5.04 billion, a P/E ratio of 25.50 and a beta of 1.45.

Insider Transactions at IES

In related news, VP Mary K. Newman sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $286.23, for a total transaction of $715,575.00. Following the transaction, the vice president now directly owns 18,286 shares in the company, valued at $5,234,001.78. This trade represents a 12.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $158.29, for a total value of $7,575,917.69. Following the completion of the sale, the chief executive officer now owns 11,036,984 shares of the company’s stock, valued at $1,747,044,197.36. The trade was a 0.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,708 shares of company stock worth $16,327,722. Company insiders own 59.19% of the company’s stock.

Institutional Investors Weigh In On IES

A number of large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in shares of IES by 79.3% during the third 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 during the period. Tidal Investments LLC purchased a new stake in IES in the 3rd quarter worth approximately $332,000. Arete Wealth Advisors LLC purchased a new stake in IES in the 3rd quarter worth approximately $335,000. Geode Capital Management LLC grew its position in shares of IES by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 209,146 shares of the technology company’s stock worth $41,757,000 after buying an additional 623 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of IES by 411.1% during the third quarter. Barclays PLC now owns 15,176 shares of the technology company’s stock valued at $3,029,000 after buying an additional 12,207 shares during the period. 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.