IES (NASDAQ:IESC) Stock Price Down 6% – Here’s What Happened

IES Holdings, Inc. (NASDAQ:IESC)’s share price was down 6% during mid-day trading on Tuesday . The stock traded as low as $225.88 and last traded at $227.30. Approximately 35,441 shares traded hands during trading, a decline of 69% from the average daily volume of 115,145 shares. The stock had previously closed at $241.89.

Analyst Ratings Changes

Separately, StockNews.com raised shares of IES from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th.

IES Stock Performance

The business has a 50 day moving average price of $249.56 and a 200-day moving average price of $199.16. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 23.39 and a beta of 1.52.

Insider Buying and Selling

In other news, CEO Jeffrey L. Et Al Gendell sold 470 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $252.25, for a total transaction of $118,557.50. Following the completion of the sale, the chief executive officer now owns 10,957,184 shares in the company, valued at $2,763,949,664. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Mary K. Newman sold 2,500 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $286.23, for a total value of $715,575.00. Following the completion of the transaction, the vice president now owns 18,286 shares in the company, valued at approximately $5,234,001.78. This represents a 12.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,359 shares of company stock valued at $7,341,029 over the last ninety days. 59.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IES

A number of hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its holdings in shares of IES by 79.3% in the third quarter. Franklin Resources Inc. now owns 155,426 shares of the technology company’s stock valued at $31,026,000 after purchasing an additional 68,750 shares in the last quarter. Principal Financial Group Inc. lifted its stake in IES by 56.9% during the 3rd quarter. Principal Financial Group Inc. now owns 7,269 shares of the technology company’s stock valued at $1,451,000 after acquiring an additional 2,636 shares in the last quarter. Barclays PLC boosted its holdings in IES by 411.1% during the 3rd quarter. Barclays PLC now owns 15,176 shares of the technology company’s stock worth $3,029,000 after acquiring an additional 12,207 shares during the last quarter. Stifel Financial Corp bought a new stake in shares of IES in the 3rd quarter worth $631,000. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of IES in the third quarter valued at about $10,426,000. Institutional investors and hedge funds own 86.60% of the company’s stock.

IES Company Profile

IES Holdings, Inc engages in the design and installation of integrated electrical and technology systems, and provides infrastructure products and services in the United States. The Communications segment designs, installs, and maintains network infrastructure within data centers for co-location and managed hosting customers; corporate, educational, financial, hospitality, and healthcare buildings; e-commerce distribution centers; and high-tech manufacturing facilities.