IES (NASDAQ:IESC) Reaches New 1-Year High – What’s Next?

IES Holdings, Inc. (NASDAQ:IESC) shares reached a new 52-week high during trading on Monday . The company 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 cut IES from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th.

IES Trading Down 4.4 %

The firm’s fifty day moving average is $205.74 and its 200-day moving average is $171.95. The stock has a market capitalization of $5.59 billion, a PE ratio of 32.96 and a beta of 1.37.

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

Insider Activity at IES

In other IES news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $160.20, for a total transaction of $5,982,989.40. Following the transaction, the chief executive officer now directly owns 10,934,845 shares in the company, valued at $1,751,762,169. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of IES stock in a transaction on Monday, September 16th. The stock was 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 directly owns 10,934,845 shares in the company, valued at approximately $1,751,762,169. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $158.29, for a total value of $7,575,917.69. Following the sale, the chief executive officer now owns 11,036,984 shares in the company, valued at approximately $1,747,044,197.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,208 shares of company stock worth $17,850,857. Insiders own 59.19% of the company’s stock.

Institutional Investors Weigh In On IES

Large investors have recently modified their holdings of the company. Hennessy Advisors Inc. purchased a new position in IES in the second quarter valued at $9,558,000. F M Investments LLC purchased a new stake in shares of IES during the 3rd quarter worth approximately $10,887,000. Thrivent Financial for Lutherans acquired a new stake in IES during the 3rd quarter worth $10,426,000. Apis Capital Advisors LLC acquired a new position in IES in the second quarter valued at $6,409,000. Finally, Vanguard Group Inc. grew its holdings in shares of IES by 10.0% during the first quarter. Vanguard Group Inc. now owns 479,315 shares of the technology company’s stock worth $58,304,000 after purchasing an additional 43,634 shares during the last quarter. 86.60% of the stock is owned by hedge funds and other institutional investors.

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.