IES (NASDAQ:IESC) Reaches New 12-Month High – What’s Next?

IES Holdings, Inc. (NASDAQ:IESC) hit a new 52-week high on Tuesday . The stock traded as high as $318.99 and last traded at $315.77, with a volume of 90597 shares changing hands. The stock had previously closed at $279.68.

Analyst Ratings Changes

Separately, StockNews.com lowered IES from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th.

IES Trading Down 4.2 %

The business has a 50 day moving average price of $229.44 and a 200-day moving average price of $180.10. The company has a market cap of $5.73 billion, a P/E ratio of 28.63 and a beta of 1.37.

IES announced that its Board of Directors has approved a share repurchase plan on Friday, August 2nd that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the technology company to buy up to 5.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, Director Todd M. Cleveland sold 10,000 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $153.57, for a total value of $1,535,700.00. Following the sale, the director now owns 104,654 shares in the company, valued at approximately $16,071,714.78. This represents a 8.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of the company’s 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 transaction, 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 0.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 105,208 shares of company stock valued at $16,967,207 in the last quarter. Company insiders own 59.19% of the company’s stock.

Institutional Investors Weigh In On IES

A number of institutional investors have recently made changes to their positions in IESC. Federated Hermes Inc. lifted its holdings in IES by 258.7% during the 2nd quarter. Federated Hermes Inc. now owns 269 shares of the technology company’s stock worth $37,000 after purchasing an additional 194 shares during the last quarter. Quest Partners LLC lifted its holdings 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 in the last quarter. Gladius Capital Management LP acquired a new position in shares of IES in the third quarter valued at about $44,000. Contravisory Investment Management Inc. bought a new position in IES during the second quarter worth about $48,000. Finally, CWM LLC raised its stake in IES by 252.7% in the 2nd quarter. CWM LLC now owns 582 shares of the technology company’s stock worth $81,000 after purchasing an additional 417 shares in the last quarter. 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.