IES (NASDAQ:IESC) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of IES (NASDAQ:IESC) from a sell rating to a hold rating in a research note published on Thursday morning, BidAskClub reports.

Shares of NASDAQ IESC traded up $0.85 during mid-day trading on Thursday, reaching $18.61. The company’s stock had a trading volume of 20,600 shares, compared to its average volume of 22,761. The company has a market cap of $388.69 million, a price-to-earnings ratio of 10.96 and a beta of 0.60. The company has a quick ratio of 1.47, a current ratio of 1.62 and a debt-to-equity ratio of 0.09. The firm’s fifty day simple moving average is $18.48. IES has a 52 week low of $14.61 and a 52 week high of $20.25.

IES (NASDAQ:IESC) last released its quarterly earnings data on Monday, May 6th. The technology company reported $0.38 earnings per share for the quarter. The firm had revenue of $256.90 million during the quarter. IES had a return on equity of 15.92% and a net margin of 2.63%.

In other news, CEO Gary S. Matthews purchased 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was bought at an average cost of $16.90 per share, with a total value of $25,350.00. Following the completion of the purchase, the chief executive officer now owns 261,500 shares in the company, valued at $4,419,350. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 61.70% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of IES by 2.4% during the 4th quarter. BlackRock Inc. now owns 425,627 shares of the technology company’s stock valued at $6,618,000 after buying an additional 10,080 shares in the last quarter. Geode Capital Management LLC increased its holdings in IES by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 96,089 shares of the technology company’s stock valued at $1,494,000 after buying an additional 2,715 shares during the last quarter. Bank of America Corp DE increased its holdings in IES by 48.3% in the fourth quarter. Bank of America Corp DE now owns 6,362 shares of the technology company’s stock valued at $99,000 after buying an additional 2,071 shares during the last quarter. Millennium Management LLC purchased a new position in IES in the fourth quarter valued at $467,000. Finally, Deutsche Bank AG increased its holdings in IES by 7.1% in the fourth quarter. Deutsche Bank AG now owns 18,441 shares of the technology company’s stock valued at $284,000 after buying an additional 1,221 shares during the last quarter. 77.61% of the stock is owned by institutional investors.

About IES

IES Holdings, Inc engages in communications, commercial and industrial, infrastructure solutions, and residential businesses in the United States. Its Commercial & Industrial segment offers electrical and mechanical design, construction, and maintenance services for office buildings, manufacturing facilities, data centers, chemical plants, refineries, wind farms, solar facilities, municipal infrastructures, and health care facilities.

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