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

IES (NASDAQ:IESCGet Free Report) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.

IES Stock Down 2.8 %

Shares of NASDAQ:IESC traded down $3.86 during trading on Friday, hitting $133.45. The stock had a trading volume of 123,899 shares, compared to its average volume of 126,138. IES has a 12-month low of $51.99 and a 12-month high of $184.38. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 20.13 and a beta of 1.36. The stock has a 50-day simple moving average of $143.34 and a two-hundred day simple moving average of $110.14.

IES (NASDAQ:IESCGet Free Report) last posted its quarterly earnings results on Friday, May 3rd. The technology company reported $2.29 earnings per share (EPS) for the quarter. The company had revenue of $705.80 million during the quarter. IES had a net margin of 5.27% and a return on equity of 30.22%.

Insider Buying and Selling at IES

In other news, COO Matthew J. Simmes sold 14,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $170.52, for a total value of $2,387,280.00. Following the sale, the chief operating officer now owns 73,110 shares in the company, valued at $12,466,717.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jeffrey L. Et Al Gendell sold 44,449 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $130.03, for a total transaction of $5,779,703.47. Following the transaction, the chief executive officer now owns 11,233,970 shares in the company, valued at approximately $1,460,753,119.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Matthew J. Simmes sold 14,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $170.52, for a total transaction of $2,387,280.00. Following the transaction, the chief operating officer now owns 73,110 shares of the company’s stock, valued at $12,466,717.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,757 shares of company stock valued at $18,360,416. 59.19% of the stock is owned by insiders.

Institutional Trading of IES

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Breach Inlet Capital Management LLC acquired a new stake in IES during the 4th quarter worth $10,239,000. FMR LLC grew its stake in IES by 12.4% during the 3rd quarter. FMR LLC now owns 1,106,623 shares of the technology company’s stock valued at $72,893,000 after acquiring an additional 121,978 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in IES by 302.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 79,388 shares of the technology company’s stock valued at $9,657,000 after acquiring an additional 59,643 shares during the last quarter. Vanguard Group Inc. lifted its stake in IES by 10.0% in the 1st quarter. Vanguard Group Inc. now owns 479,315 shares of the technology company’s stock worth $58,304,000 after purchasing an additional 43,634 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in shares of IES during the 3rd quarter worth approximately $1,599,000. Hedge funds and other institutional investors own 86.60% of the company’s stock.

About IES

(Get Free Report)

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.

Further Reading

Receive News & Ratings for IES Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IES and related companies with MarketBeat.com's FREE daily email newsletter.