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

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

IES Trading Down 0.7 %

Shares of IESC stock opened at $216.45 on Wednesday. The stock has a market capitalization of $4.33 billion, a P/E ratio of 20.15 and a beta of 1.52. The firm’s 50 day moving average is $233.28 and its 200 day moving average is $216.68. IES has a 12-month low of $91.19 and a 12-month high of $320.08.

IES (NASDAQ:IESC) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $2.64 earnings per share (EPS) for the quarter. IES had a return on equity of 35.81% and a net margin of 7.30%.

Insider Activity

In other news, VP Mary K. Newman sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $286.23, for a total value of $715,575.00. Following the transaction, the vice president now owns 18,286 shares of the company’s stock, valued at $5,234,001.78. This trade represents a 12.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Tracy Mclauchlin sold 5,000 shares of IES stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $253.02, for a total value of $1,265,100.00. Following the transaction, the chief financial officer now directly owns 71,177 shares in the company, valued at approximately $18,009,204.54. The trade was a 6.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,359 shares of company stock valued at $7,341,029 in the last quarter. 56.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On IES

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of IES by 17.0% in the fourth quarter. Geode Capital Management LLC now owns 244,620 shares of the technology company’s stock worth $49,168,000 after purchasing an additional 35,474 shares in the last quarter. National Bank of Canada FI bought a new position in IES in the 4th quarter worth $54,000. Franklin Resources Inc. increased its stake in IES by 4.6% in the 4th quarter. Franklin Resources Inc. now owns 162,561 shares of the technology company’s stock worth $32,668,000 after buying an additional 7,135 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in IES by 49.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 2,000 shares of the technology company’s stock valued at $402,000 after acquiring an additional 664 shares during the period. Finally, Norges Bank purchased a new position in shares of IES in the fourth quarter valued at about $1,557,000. 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.