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HOUSTON – IES Holdings, Inc. (NASDAQ:IESC), a supplier of built-in electrical and know-how methods, has introduced the acquisition of Greiner Industries, Inc., a structural metal fabrication and providers 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 section.
Greiner, which reported income of roughly $58 million in 2023, will retain its model identify 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 section, highlighted Greiner’s strategic place to assist the Mid-Atlantic area, together with the Virginia knowledge 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 purchasers throughout america in varied finish markets, together with knowledge facilities, residential housing, and industrial and industrial services. The Infrastructure Options section of IES gives 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 develop its Infrastructure Options section, buyers and business 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 knowledge reveals 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 probably undervalued inventory when it comes to its earnings progress fee. Moreover, IES’s Worth to E book ratio is 5.03, indicating the market’s valuation of the corporate relative to its e book worth.
Relating to market efficiency, IES has skilled a big return over the past week, with a 7.63% enhance 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 formidable 182.29% worth whole return. These figures underscore the corporate’s strong efficiency out there and could possibly be a optimistic signal for potential buyers.
Two InvestingPro Ideas for IES Holdings that stand out embody the truth that the corporate holds additional 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 presently in overbought territory. Potential buyers could wish to contemplate these elements when evaluating the corporate’s monetary well being and market place.
For these excited by a extra complete evaluation, InvestingPro gives further tips about IES Holdings. There are presently 14 extra InvestingPro Ideas obtainable, 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 need to use the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Professional and Professional+ subscription.
This text was generated with the assist of AI and reviewed by an editor. For extra data see our T&C.
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