Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity; Related Stockholder Matters and Issuer Purchases of Equity Securities
Our common stock trades on the N asdaq Global Market under the ticker symbol “IESC.”
As of December 1, 2021, the closing market price of our common stock was $48.21 per share and there were approximately 324 holders of record.
We have never declared or paid dividends on our common stock. We intend to retain any future earnings and do not expect to pay cash dividends in the foreseeable future.
Stock Repurchase Program
In 2015, our Board of Directors authorized a stock repurchase program for the purchase from time to time of up to 1.5 million shares of the Company’s common stock, and o n May 2, 2019, authorized the repurchase from time to time of up to an additional 1.0 million shares of the Company's common stock under the stock repurchase program. S hare purchases are made for cash in open market transactions at prevailing market prices or in privately negotiated transactions or otherwise. The timing and amount of purchases under the program are determined based upon prevailing market conditions, our liquidity requirements, contractual restrictions and other factors. All or part of the repurchases may be implemented under a Rule 10b5-1 trading plan, which allows repurchases under pre-set terms at times when the Company might otherwise be prevented from purchasing under insider trading laws or because of self-imposed blackout periods. The program does not require the Company to purchase any specific number of shares and may be modified, suspended or reinstated at any time at the Company’s discretion and without notice. During the year ended September 30, 2021, we repurchased 124,205 shares of common stock at an average price of $ 44.40 per share for a total aggregate purchase price of $5.5 million. The Company had 869,620 shares remaining under its stock repurchase authorization at September 30, 2021.
The following table presents information with respect to purchases of common stock by the Company during the three months ended September 30, 2021:
Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of a Publicly Announced Plan Maximum Number of Shares That May Yet Be Purchased Under the Publicly Announced Plan as of September 30, 2021
July 1, 2021 – July 31, 2021 — $— — 993,825
August 1, 2021 – August 31, 2021 2,005 $47.84 2,005 991,820
September 1, 2021 – September 30, 2021 122,200 $44.34 122,200 869,620
Total 124,205 $44.40 124,205 869,620
Five-Year Stock Performance Graph
The graph below compares the cumulative five year total return provided shareholders on IES Holdings, Inc.'s common stock relative to the cumulative total returns of the Russell 2000 index, a customized peer group of four companies that includes Comfort Systems USA Inc., MYR Group Inc., Sterling Construction Company Inc. and Team Inc. (the "Peer Group (Old)") and a revised customized peer group of four companies that includes: Comfort Systems USA Inc., MYR Group Inc., Sterling Construction Company Inc. and Primoris (the "Peer Group (New)"). The change from the Peer Group (Old) to the Peer Group (New) is being made to better reflect companies relevant to the Company's current business. An investment of $100 (with reinvestment of all dividends) is assumed to have been made in our common stock, in the Russell 2000 index, and in the two peer groups on September 30, 2016, and its relative performance is tracked through September 30, 2021 .
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Comparison of Five Year Cumulative Total Return*
Among IES Holdings, Inc., the Russell 2000 Index, and a Peer Group
*$100 invested on 9/30/16 in stock or index, including reinvestment of dividends.
Fiscal year ending September 30.
Year Ended September 30,
2016 2017 2018 2019 2020 2021
IES Holdings, Inc. $ 100.00 97.25 109.61 115.74 175.58 256.83
Russell 2000 100.00 120.74 139.14 126.77 127.27 187.95
Peer Group (Old) 100.00 114.32 139.42 120.88 126.25 221.50
Peer Group (New) 100.00 140.13 152.89 131.61 144.91 250.50