IES (NASDAQ:IESC) Shares Gap Up – Here’s What Happened

IES Holdings, Inc. (NASDAQ:IESC) gapped up before the market opened on Tuesday . The stock had previously closed at $219.89, but opened at $233.18. IES shares last traded at $222.70, with a volume of 61,965 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised IES from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th.

IES Stock Performance

The stock’s fifty day simple moving average is $240.19 and its two-hundred day simple moving average is $213.89. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 22.57 and a beta of 1.52.

IES (NASDAQ:IESC) last released its earnings results on Tuesday, February 4th. The technology company reported $2.64 EPS for the quarter. IES had a net margin of 7.00% and a return on equity of 35.69%.

Insider Transactions at IES

In other IES news, CFO Tracy Mclauchlin sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $253.02, for a total value of $1,265,100.00. Following the transaction, the chief financial officer now owns 71,177 shares in the company, valued at approximately $18,009,204.54. This represents a 6.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mary K. Newman sold 2,500 shares of IES stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $286.23, for a total transaction of $715,575.00. Following the sale, the vice president now directly owns 18,286 shares of the company’s stock, valued at $5,234,001.78. This trade represents a 12.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,359 shares of company stock valued at $7,341,029 over the last three months. Company insiders own 56.76% of the company’s stock.

Institutional Trading of IES

Several hedge funds and other institutional investors have recently modified their holdings of IESC. Franklin Resources Inc. increased its holdings in IES by 79.3% in the third quarter. Franklin Resources Inc. now owns 155,426 shares of the technology company’s stock worth $31,026,000 after buying an additional 68,750 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of 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 purchasing an additional 2,636 shares in the last quarter. Barclays PLC lifted its stake in shares of IES by 411.1% in the 3rd quarter. Barclays PLC now owns 15,176 shares of the technology company’s stock valued at $3,029,000 after purchasing an additional 12,207 shares during the last quarter. Stifel Financial Corp bought a new stake in IES in the third quarter worth $631,000. Finally, Thrivent Financial for Lutherans acquired a new position in IES during the third quarter worth $10,426,000. 86.60% of the stock is currently owned by hedge funds and other institutional investors.

About IES

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.