IES (NASDAQ:IESC) Shares Up 7.2% – Here’s Why

IES Holdings, Inc. (NASDAQ:IESC)’s share price traded up 7.2% during trading on Tuesday . The stock traded as high as $283.68 and last traded at $283.68. 84,930 shares changed hands during trading, a decline of 36% from the average session volume of 132,486 shares. The stock had previously closed at $264.67.

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 Stock Performance

The company has a market cap of $5.40 billion, a P/E ratio of 31.86 and a beta of 1.37. The company has a fifty day moving average price of $222.01 and a two-hundred day moving average price of $177.72.

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

Insider Transactions at IES

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC grew its stake in shares of IES by 41.0% during the second quarter. Quest Partners LLC now owns 296 shares of the technology company’s stock worth $41,000 after buying an additional 86 shares during the last quarter. Andina Capital Management LLC boosted its position in shares of IES by 4.0% during the 3rd quarter. Andina Capital Management LLC now owns 2,496 shares of the technology company’s stock valued at $498,000 after purchasing an additional 96 shares in the last quarter. CWM LLC boosted its position in shares of IES by 17.2% during the 3rd quarter. CWM LLC now owns 682 shares of the technology company’s stock valued at $136,000 after purchasing an additional 100 shares in the last quarter. Ellsworth Advisors LLC boosted its position in shares of IES by 2.7% during the 2nd quarter. Ellsworth Advisors LLC now owns 5,806 shares of the technology company’s stock valued at $809,000 after purchasing an additional 151 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of IES by 2.2% during the 2nd quarter. Cetera Investment Advisers now owns 8,690 shares of the technology company’s stock valued at $1,211,000 after purchasing an additional 190 shares in the last quarter. 86.60% of the stock is currently owned by institutional investors and hedge funds.

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.