IES (NASDAQ:IESC) Shares Down 4.5% – Here’s What Happened

Shares of IES Holdings, Inc. (NASDAQ:IESC) were down 4.5% on Thursday . The company traded as low as $297.71 and last traded at $302.15. Approximately 104,876 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 164,385 shares. The stock had previously closed at $316.26.

Analysts Set New Price Targets

Separately, StockNews.com lowered IES from a “buy” rating to a “hold” rating in a research note on Wednesday.

IES Stock Down 6.2 %

The business has a 50 day simple moving average of $249.80 and a two-hundred day simple moving average of $209.65. The firm has a market cap of $5.70 billion, a PE ratio of 28.82 and a beta of 1.52.

Insiders Place Their Bets

In other news, VP Mary K. Newman sold 2,500 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $286.23, for a total transaction of $715,575.00. Following the transaction, the vice president now owns 18,286 shares in the company, valued at approximately $5,234,001.78. This trade represents a 12.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jeffrey L. Et Al Gendell sold 470 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $252.25, for a total value of $118,557.50. Following the transaction, the chief executive officer now owns 10,957,184 shares in the company, valued at approximately $2,763,949,664. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,359 shares of company stock worth $7,341,029 over the last quarter. Company insiders own 56.76% of the company’s stock.

Institutional Investors Weigh In On IES

A number of institutional investors have recently added to or reduced their stakes in IESC. Gladius Capital Management LP bought a new stake in IES during the third quarter valued at about $44,000. KBC Group NV boosted its holdings in IES by 52.5% in the fourth quarter. KBC Group NV now owns 401 shares of the technology company’s stock worth $81,000 after acquiring an additional 138 shares in the last quarter. City State Bank acquired a new stake in IES in the fourth quarter worth about $106,000. CWM LLC boosted its holdings in IES by 17.2% in the third quarter. CWM LLC now owns 682 shares of the technology company’s stock worth $136,000 after acquiring an additional 100 shares in the last quarter. Finally, Quest Partners LLC boosted its holdings in IES by 159.5% in the third quarter. Quest Partners LLC now owns 768 shares of the technology company’s stock worth $153,000 after acquiring an additional 472 shares in the last quarter. Institutional investors 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.