IES (NASDAQ:IESC) Rating Increased 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 released on Tuesday.

IES Stock Performance

IES stock opened at $252.18 on Tuesday. IES has a fifty-two week low of $76.26 and a fifty-two week high of $320.08. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 25.50 and a beta of 1.45. The stock’s 50 day simple moving average is $248.06 and its two-hundred day simple moving average is $188.56.

Insider Buying and Selling at IES

In related news, COO Matthew J. Simmes sold 7,000 shares of the stock in a transaction dated 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 directly owns 115,341 shares of the company’s stock, valued at approximately $33,831,822.12. This represents a 5.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of IES stock in a transaction dated Thursday, September 12th. The stock was 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 directly 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. Over the last quarter, insiders sold 94,708 shares of company stock valued at $16,327,722. Corporate insiders own 59.19% of the company’s stock.

Institutional Investors Weigh In On IES

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in IES during the 2nd quarter valued at $3,328,000. Principal Financial Group Inc. boosted its position in shares of IES by 56.9% during the third quarter. Principal Financial Group Inc. now owns 7,269 shares of the technology company’s stock valued at $1,451,000 after buying an additional 2,636 shares during the last quarter. Versor Investments LP bought a new stake in IES in the 2nd quarter worth about $934,000. Thrivent Financial for Lutherans purchased a new position in IES in the 3rd quarter worth about $10,426,000. Finally, Summit Partners Public Asset Management LLC lifted its stake in 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 valued at $23,842,000 after acquiring an additional 74,438 shares during the period. 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.