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

IES Holdings, Inc. (NASDAQ:IESC) hit a new 52-week high during mid-day trading on Tuesday . The company 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 Upgrades and Downgrades

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

IES Stock Performance

The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 31.93 and a beta of 1.37. The company has a 50-day moving average of $226.74 and a 200-day moving average of $179.27.

IES announced that its Board of Directors has approved a share repurchase program on Friday, August 2nd that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at IES

In other news, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $158.29, for a total value of $7,575,917.69. Following the sale, the chief executive officer now owns 11,036,984 shares of the company’s stock, valued at $1,747,044,197.36. The trade was a 0.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Todd M. Cleveland sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $153.57, for a total transaction of $1,535,700.00. Following the completion of the transaction, the director now directly owns 104,654 shares of the company’s stock, valued at approximately $16,071,714.78. This trade represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 105,208 shares of company stock valued at $16,967,207. 59.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Tidal Investments LLC acquired a new position in shares of IES during the 3rd quarter worth about $332,000. Arete Wealth Advisors LLC acquired a new position in IES during the third quarter worth approximately $335,000. Geode Capital Management LLC lifted its position in shares of IES by 0.3% in the third quarter. Geode Capital Management LLC now owns 209,146 shares of the technology company’s stock valued at $41,757,000 after buying an additional 623 shares during the last quarter. Barclays PLC boosted its stake in shares of IES by 411.1% during the 3rd quarter. Barclays PLC now owns 15,176 shares of the technology company’s stock worth $3,029,000 after acquiring an additional 12,207 shares during the period. Finally, Orion Portfolio Solutions LLC acquired a new position in shares of IES during the 3rd quarter worth approximately $267,000. 86.60% of the stock is owned by institutional investors and hedge funds.

IES Company Profile

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.