IES (NASDAQ:IESC) Stock Rating Lowered by Wall Street Zen

Key Points

• IES Holdings has been downgraded from a "strong-buy" rating to a "buy" rating by Wall Street Zen, indicating a shift in investor sentiment.
• The company's recent earnings report showed a earnings per share of $3.95, exceeding expectations, with revenues reaching $890.20 million.
• Insider trading activity has seen CEO Jeffrey L. Et Al Gendell sell shares worth approximately $1.58 million, reducing his ownership slightly, and insiders collectively sold about $10.9 million in stock over the past three months.

IES (NASDAQ:IESC - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Sunday.

IES Price Performance

Shares of IES stock traded down $8.52 on Friday, hitting $326.55. 52,401 shares of the company were exchanged, compared to its average volume of 189,413. IES has a 1-year low of $140.89 and a 1-year high of $370.88. The company has a quick ratio of 1.50, a current ratio of 1.85 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 24.95 and a beta of 1.67. The company has a 50-day moving average price of $298.48 and a 200 day moving average price of $239.16.

IES (NASDAQ:IESC - Get Free Report) last issued its earnings results on Friday, August 1st. The technology company reported $3.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.55 by $0.40. The business had revenue of $890.20 million during the quarter, compared to the consensus estimate of $833.00 million. IES had a return on equity of 37.23% and a net margin of 8.15%.

Insider Buying and Selling at IES

In other news, CEO Jeffrey L. Et Al Gendell sold 5,764 shares of IES stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $273.59, for a total transaction of $1,576,972.76. Following the sale, the chief executive officer owned 10,917,554 shares of the company's stock, valued at approximately $2,986,933,598.86. The trade was a 0.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 39,630 shares of company stock valued at $10,915,095. Corporate insiders own 56.76% of the company's stock.

Institutional Trading of IES

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of IES by 38.9% during the fourth quarter. Vanguard Group Inc. now owns 753,331 shares of the technology company's stock valued at $151,389,000 after acquiring an additional 210,925 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of IES during the 1st quarter worth approximately $16,853,000. United Capital Management of KS Inc. acquired a new stake in IES in the 2nd quarter valued at approximately $13,589,000. Invesco Ltd. raised its position in IES by 27.6% in the fourth quarter. Invesco Ltd. now owns 200,799 shares of the technology company's stock valued at $40,353,000 after purchasing an additional 43,449 shares during the period. Finally, Man Group plc acquired a new position in IES during the fourth quarter worth $8,497,000. 86.60% of the stock is owned by institutional investors and hedge funds.

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.