IES (NASDAQ:IESC) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of IES (NASDAQ:IESC) from a buy rating to a hold rating in a report released on Friday morning.

IES Stock Up 1.5 %

Shares of IESC stock opened at $181.89 on Friday. The stock has a market cap of $3.64 billion, a PE ratio of 16.94 and a beta of 1.57. The business has a 50-day simple moving average of $216.05 and a 200-day simple moving average of $219.75. IES has a 52-week low of $100.83 and a 52-week high of $320.09.

IES (NASDAQ:IESC) last issued its quarterly earnings data 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 Buying and Selling

In related news, CEO Jeffrey L. Et Al Gendell sold 470 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $252.25, for a total value of $118,557.50. Following the completion of the transaction, the chief executive officer now owns 10,957,184 shares of the company’s stock, valued at approximately $2,763,949,664. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 56.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IES

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of IES by 38.9% in the fourth quarter. Vanguard Group Inc. now owns 753,331 shares of the technology company’s stock valued at $151,389,000 after acquiring an additional 210,925 shares in the last quarter. Summit Partners Public Asset Management LLC lifted its position in shares of IES by 165.4% in the third quarter. Summit Partners Public Asset Management LLC now owns 119,438 shares of the technology company’s stock valued at $23,842,000 after acquiring an additional 74,438 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of IES by 140.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 125,500 shares of the technology company’s stock valued at $25,221,000 after acquiring an additional 73,271 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of IES by 79.3% in the third quarter. Franklin Resources Inc. now owns 155,426 shares of the technology company’s stock valued at $31,026,000 after acquiring an additional 68,750 shares in the last quarter. Finally, FMR LLC lifted its position in shares of IES by 4.6% in the third quarter. FMR LLC now owns 1,476,238 shares of the technology company’s stock valued at $294,687,000 after acquiring an additional 65,145 shares in the last quarter. Institutional investors and hedge funds 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.