IES (NASDAQ:IESC) Rating Increased to Buy at StockNews.com

IES (NASDAQ:IESC) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

IES Stock Down 0.1 %

Shares of IESC stock traded down $0.17 during mid-day trading on Tuesday, hitting $252.18. 150,068 shares of the stock were exchanged, compared to its average volume of 139,000. IES has a 52-week low of $76.26 and a 52-week high of $320.08. The firm has a fifty day moving average of $248.06 and a 200 day moving average of $188.56. The company has a market cap of $5.04 billion, a PE ratio of 25.50 and a beta of 1.45.

Insider Activity

In other IES news, COO Matthew J. Simmes sold 7,000 shares of IES stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $293.32, for a total transaction of $2,053,240.00. Following the sale, the chief operating officer now owns 115,341 shares of the company’s stock, valued at $33,831,822.12. The trade was a 5.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $158.29, for a total transaction 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. This trade represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,708 shares of company stock worth $17,863,422 over the last three months. 59.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On IES

A number of institutional investors and hedge funds have recently bought and sold shares of IESC. Summit Partners Public Asset Management LLC boosted its holdings in shares of IES by 165.4% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 119,438 shares of the technology company’s stock worth $23,842,000 after purchasing an additional 74,438 shares during the last quarter. Franklin Resources Inc. lifted its position in 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 buying an additional 68,750 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in IES during the second quarter worth $9,558,000. FMR LLC grew its holdings in IES by 4.6% in the 3rd quarter. FMR LLC now owns 1,476,238 shares of the technology company’s stock valued at $294,687,000 after buying an additional 65,145 shares in the last quarter. Finally, F M Investments LLC acquired a new stake in shares of IES in the 3rd quarter worth $10,887,000. 86.60% of the stock is currently owned by institutional investors and hedge funds.

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.