HOUSTON – IES Holdings, Inc. (NASDAQ:IESC), a supplier of built-in electrical and expertise techniques, has introduced the acquisition of Greiner Industries, Inc., a structural metal fabrication and companies firm primarily based in Mount Pleasure, PA. The transaction, which incorporates Greiner’s services spanning 450,000 sq. toes on a 60-acre campus, is geared toward strengthening IES’s Infrastructure Options phase.
Greiner, which reported income of roughly $58 million in 2023, will retain its model title post-acquisition. Jeff Gendell, Chairman and CEO of IES, expressed that the acquisition “strategically expands our geographic footprint into the engaging Mid-Atlantic market,” and famous the addition of Greiner’s services and products to their portfolio.
Mike Rice, President of IES’s Infrastructure Options phase, highlighted Greiner’s strategic place to help the Mid-Atlantic area, together with the Virginia information heart market. Rick Sine, Vice President of Operations at Greiner, will proceed to guide the corporate following the acquisition.
Frank Greiner, the founding father of the corporate established in 1976, welcomed the transition, stating his enthusiasm for becoming a member of the IES household and the alignment with IES’s strategic sources and dedication to staff and prospects.
IES Holdings, with over 8,000 staff, serves shoppers throughout america in numerous finish markets, together with information facilities, residential housing, and business and industrial services. The Infrastructure Options phase of IES supplies electro-mechanical options and custom-engineered merchandise for industrial operations.
The information is predicated on a press launch assertion from IES Holdings, Inc.
InvestingPro Insights
IES Holdings, Inc. (NASDAQ:IESC) has not too long ago made headlines with its strategic acquisition of Greiner Industries, Inc. As the corporate continues to broaden its Infrastructure Options phase, buyers and trade analysts are paying shut consideration to its monetary metrics and market efficiency. Listed below are the newest insights from InvestingPro that could be of curiosity to these following IES’s progress:
InvestingPro information exhibits that IES Holdings has a Market Cap of roughly $2.46 billion USD. The corporate’s P/E Ratio stands at 22.59, reflecting its present earnings relative to its share worth. Notably, the corporate’s PEG Ratio for the final twelve months as of Q1 2024 is 0.13, suggesting a doubtlessly undervalued inventory by way of its earnings development price. Moreover, IES’s Value to Guide ratio is 5.03, indicating the market’s valuation of the corporate relative to its ebook worth.
Relating to market efficiency, IES has skilled a major return over the past week, with a 7.63% improve in its inventory worth. That is a part of a broader pattern, as the corporate has additionally seen a excessive return over the past 12 months, with a powerful 182.29% worth whole return. These figures underscore the corporate’s strong efficiency out there and may very well be a constructive signal for potential buyers.
Two InvestingPro Ideas for IES Holdings that stand out embody the truth that the corporate holds extra cash than debt on its steadiness sheet, which can present some monetary flexibility and stability. Additionally, the Relative Power Index (RSI) means that the inventory is at the moment in overbought territory. Potential buyers could need to think about these elements when evaluating the corporate’s monetary well being and market place.
For these fascinated with a extra complete evaluation, InvestingPro presents extra recommendations on IES Holdings. There are at the moment 14 extra InvestingPro Ideas accessible, which may present deeper insights into the corporate’s financials and market efficiency. To discover the following pointers, go to InvestingPro’s IES Holdings web page. And keep in mind, you should utilize the coupon code PRONEWS24 to get a further 10% off a yearly or biyearly Professional and Professional+ subscription.
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