Jim Cramer’s Lightning Round: 8 Stocks to Watch

4. IES Holdings, Inc. (NASDAQ:IESC)

Cramer commended IES Holdings, Inc.’s (NASDAQ:IESC) CEO and remarked:

“This is a terrific infrastructure play. We know it and one of the things I didn’t know about it is it’s Jeff Gendell’s company. He’s a terrific money manager. He’s really fabulous. He gets everything. This is just [a] fantastic stock.”

IES Holdings (NASDAQ:IESC) specializes in the design, installation, and maintenance of electrical and technology systems, providing infrastructure products and services across various sectors, including residential, commercial, industrial, and infrastructure solutions. Under the leadership of Jeffrey Gendell, who has served as the CEO since October 2020, the company has expanded its reach and capabilities.

Gendell is also the founder and managing member of Tontine Asset Management, a private investment management firm that is the majority shareholder of IES Holdings. During the third quarter, Gendell highlighted the continued growth within the company’s Residential segment. He noted that this segment has expanded its plumbing and HVAC service offerings into new markets, alongside its established electrical services, and is seeing growth that outpaces the general housing market.

Additionally, IES Holdings (NASDAQ:IESC) is increasing its market share in existing electrical markets, further supporting the segment’s success. Gendell also pointed out that the Communications, Infrastructure Solutions, and Commercial & Industrial segments are benefiting from strong demand, particularly driven by the data center market. He expressed optimism about the continued positive performance of these segments through the remainder of fiscal 2024 and into fiscal 2025. The company is set to announce its fourth-quarter and year-end results for fiscal 2024 on November 22.