IES (NASDAQ:IESC) Shares Down 4% – Time to Sell?

Shares of IES Holdings, Inc. (NASDAQ:IESC) dropped 4% during mid-day trading on Wednesday . The company traded as low as $287.10 and last traded at $287.60. Approximately 66,201 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 134,798 shares. The stock had previously closed at $299.52.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered IES from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th.

IES Stock Performance

The stock has a market cap of $5.66 billion, a PE ratio of 28.32 and a beta of 1.37. The company’s 50-day moving average price is $229.44 and its 200 day moving average price is $180.10.

IES declared that its Board of Directors has initiated a stock buyback program on Friday, August 2nd that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at IES

In other IES news, Director Todd M. Cleveland sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $153.57, for a total value of $1,535,700.00. Following the completion of the transaction, the director now directly owns 104,654 shares of the company’s stock, valued at approximately $16,071,714.78. The trade was a 8.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $160.20, for a total transaction of $5,982,989.40. Following the sale, the chief executive officer now directly owns 10,934,845 shares in the company, valued at $1,751,762,169. The trade was a 0.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 105,208 shares of company stock worth $16,967,207. 59.19% of the stock is owned by insiders.

Institutional Investors Weigh In On IES

A number of institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its stake 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 worth $31,026,000 after acquiring an additional 68,750 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of IES during the third quarter worth $332,000. Arete Wealth Advisors LLC purchased a new position in shares of IES in the third quarter worth about $335,000. Geode Capital Management LLC lifted its stake in IES by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 209,146 shares of the technology company’s stock worth $41,757,000 after purchasing an additional 623 shares in the last quarter. Finally, Barclays PLC grew its holdings in 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 buying an additional 12,207 shares in the last quarter. Institutional investors and hedge funds own 86.60% of the company’s stock.

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.