StockNews.com Downgrades IES (NASDAQ:IESC) to Buy

IES (NASDAQ:IESC) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

IES Price Performance

IES stock opened at $174.84 on Tuesday. The business has a 50 day moving average of $122.91 and a 200-day moving average of $94.36. The company has a market capitalization of $3.54 billion, a P/E ratio of 26.37 and a beta of 1.31. IES has a 1 year low of $43.20 and a 1 year high of $175.99.

Insiders Place Their Bets

In other news, CEO Jeffrey L. Et Al Gendell sold 11,500 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $91.23, for a total transaction of $1,049,145.00. Following the completion of the transaction, the chief executive officer now directly owns 11,456,715 shares in the company, valued at $1,045,196,109.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Jeffrey L. Et Al Gendell sold 11,500 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $91.23, for a total transaction of $1,049,145.00. Following the sale, the chief executive officer now owns 11,456,715 shares in the company, valued at approximately $1,045,196,109.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey L. Et Al Gendell sold 28,171 shares of IES stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $93.27, for a total value of $2,627,509.17. Following the completion of the sale, the chief executive officer now owns 11,428,544 shares of the company’s stock, valued at $1,065,940,298.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,184 shares of company stock valued at $7,475,841. 59.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of IESC. Allspring Global Investments Holdings LLC boosted its position in shares of IES by 1,078.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 589 shares of the technology company’s stock worth $39,000 after purchasing an additional 539 shares in the last quarter. Acadian Asset Management LLC acquired a new position in IES during the 3rd quarter worth approximately $41,000. Sunbelt Securities Inc. bought a new position in IES in the first quarter worth approximately $48,000. Quest Partners LLC bought a new position in IES in the fourth quarter worth approximately $134,000. Finally, Susquehanna Portfolio Strategies LLC acquired a new stake in IES in the first quarter valued at approximately $207,000. 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.