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 Nasdaq Global Market under the ticker symbol “IESC.”
As of November 17, 2025, the closing market price of our common stock was $359.63 per share and there were approximately 266 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
On July 31, 2024, the Board authorized a $200 million 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, 2025 , we repurchased 173,262 shares of common stock at an average price of $174.25 per share for a total aggregate purchase price of $30.2 million . The Company had $168.0 million remaining under its stock repurchase authorization at September 30, 2025.
The following table presents information with respect to purchases of common stock by the Company during the three months ended September 30, 2025 :
Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of a Publicly Announced Plan Maximum Dollar Value of Shares That May Yet Be Purchased Under the Publicly Announced Plan
July 1, 2025 – July 31, 2025 — $— — $ 167,950,925
August 1, 2025 – August 31, 2025 — $— — $ 167,950,925
September 1, 2025 – September 30, 2025 — $— — $ 167,950,925
Total — $— — $ 167,950,925
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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 (i) the Russell 2000 index and (ii) a customized peer group of five companies that includes Comfort Systems USA Inc., MYR Group Inc., Sterling Infrastructure, Inc., Primoris and Installed Building Products, Inc. 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 peer group on September 30, 2020, and its relative performance is tracked through September 30, 2025.
Comparison of Five Year Cumulative Total Return*
Among IES Holdings, Inc., the Russell 2000 Index, and a Peer Group
*$100 invested on September 30, 2020 in stock or index, including reinvestment of dividends.
2020 2021 2022 2023 2024 2025
IES Holdings, Inc. $ 100.00 $ 221.90 $ 134.14 $ 319.91 $ 969.50 $ 1,931.28
Russell 2000 100.00 147.68 112.98 123.06 156.00 172.78
Peer Group 100.00 165.81 151.80 311.25 541.71 1,139.88
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