IES (NASDAQ:IESC) Receives Buy (B-) Rating from Weiss Ratings

Key Points

• IES received a reaffirmed "buy (B-)" rating from Weiss Ratings and was upgraded by Wall Street Zen from "buy" to "strong-buy".
• In its latest earnings report, IES reported $3.95 EPS, exceeding estimates of $3.55, with revenue of $890.20 million compared to the expected $833.00 million.
• Insider activity showed Chairman Jeffrey L. Et Al Gendell sold 55,500 shares valued at approximately $20.75 million, while insiders have sold a total of 145,837 shares worth nearly $54 million over the last three months.

IES (NASDAQ:IESC - Get Free Report)'s stock had its "buy (b-)" rating reiterated by equities research analysts at Weiss Ratings in a note issued to investors on Tuesday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded shares of IES from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, IES has an average rating of "Buy".

IES Stock Performance

NASDAQ IESC traded up $5.59 during trading hours on Tuesday, reaching $393.43. 59,973 shares of the company were exchanged, compared to its average volume of 177,024. IES has a 1 year low of $146.51 and a 1 year high of $405.00. The business's 50 day simple moving average is $363.29 and its 200-day simple moving average is $293.82. The company has a quick ratio of 1.65, a current ratio of 1.85 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $7.81 billion, a P/E ratio of 30.06 and a beta of 1.70.

IES (NASDAQ:IESC - Get Free Report) last posted its quarterly earnings data 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. IES had a net margin of 8.15% and a return on equity of 37.23%. The business had revenue of $890.20 million during the quarter, compared to the consensus estimate of $833.00 million.

Insider Activity at IES

In other news, Chairman Jeffrey L. Et Al Gendell sold 55,500 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $373.92, for a total value of $20,752,560.00. Following the completion of the transaction, the chairman directly owned 10,801,028 shares in the company, valued at approximately $4,038,720,389.76. This trade represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 145,837 shares of company stock valued at $53,984,109 in the last three months. 56.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On IES

A number of large investors have recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in IES during the second quarter valued at approximately $25,000. Nisa Investment Advisors LLC lifted its position in IES by 841.7% during the second quarter. Nisa Investment Advisors LLC now owns 113 shares of the technology company's stock valued at $33,000 after purchasing an additional 101 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in IES during the first quarter valued at approximately $36,000. Elevation Point Wealth Partners LLC bought a new stake in IES during the second quarter valued at approximately $47,000. Finally, Blue Trust Inc. lifted its position in IES by 82.7% during the second quarter. Blue Trust Inc. now owns 243 shares of the technology company's stock valued at $72,000 after purchasing an additional 110 shares during the last quarter. 86.60% of the stock is currently 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.

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