IES (NASDAQ:IESC) Trading Up 8.2% – Still a Buy?

IES Holdings, Inc. (NASDAQ:IESC) shot up 8.2% during mid-day trading on Friday . The company traded as high as $310.89 and last traded at $310.50. 46,514 shares were traded during mid-day trading, a decline of 66% from the average session volume of 135,264 shares. The stock had previously closed at $286.95.

Analyst Upgrades and Downgrades

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

IES Stock Up 7.8 %

The company has a market capitalization of $6.18 billion, a P/E ratio of 31.40 and a beta of 1.37. The business has a 50 day simple moving average of $233.94 and a 200-day simple moving average of $181.58.

IES declared that its board has initiated a share repurchase plan on Friday, August 2nd that permits the company to buyback $200.00 million in shares. This buyback authorization permits the technology company to purchase up to 5.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $160.20, for a total transaction of $5,982,989.40. Following the transaction, the chief executive officer now directly owns 10,934,845 shares of the company’s stock, valued at approximately $1,751,762,169. This trade represents a 0.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Todd M. Cleveland sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $153.57, for a total transaction of $1,535,700.00. Following the completion of the sale, the director now directly owns 104,654 shares of the company’s stock, valued at $16,071,714.78. The trade was a 8.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,208 shares of company stock worth $15,094,607. Insiders own 59.19% of the company’s stock.

Hedge Funds Weigh In On IES

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC lifted its holdings in shares of IES by 41.0% in the second quarter. Quest Partners LLC now owns 296 shares of the technology company’s stock valued at $41,000 after buying an additional 86 shares during the period. Andina Capital Management LLC lifted its holdings in IES by 4.0% in the 3rd quarter. Andina Capital Management LLC now owns 2,496 shares of the technology company’s stock valued at $498,000 after acquiring an additional 96 shares during the last quarter. CWM LLC boosted its position in shares of IES by 17.2% during the 3rd quarter. CWM LLC now owns 682 shares of the technology company’s stock valued at $136,000 after purchasing an additional 100 shares in the last quarter. Ellsworth Advisors LLC grew its stake in shares of IES by 2.7% in the 2nd quarter. Ellsworth Advisors LLC now owns 5,806 shares of the technology company’s stock worth $809,000 after purchasing an additional 151 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of IES by 2.2% in the 2nd quarter. Cetera Investment Advisers now owns 8,690 shares of the technology company’s stock worth $1,211,000 after purchasing an additional 190 shares in the last quarter. 86.60% of the stock is owned by institutional investors.

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.