Insider Selling: IES Holdings, Inc. (NASDAQ:IESC) VP Sells 2,500 Shares of Stock

IES Holdings, Inc. (NASDAQ:IESC) 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 value of $715,575.00. Following the transaction, the vice president now owns 18,286 shares of the company’s stock, valued at $5,234,001.78. The trade was a 12.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

IES Price Performance

Shares of IESC traded up $22.91 during trading hours on Friday, hitting $309.86. The stock had a trading volume of 136,752 shares, compared to its average volume of 135,730. IES Holdings, Inc. has a 12 month low of $68.78 and a 12 month high of $318.99. The firm has a market capitalization of $6.19 billion, a PE ratio of 31.40 and a beta of 1.37. The stock has a fifty day moving average price of $233.94 and a 200 day moving average price of $181.58.

IES declared that its board has authorized a share repurchase program on Friday, August 2nd that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On IES

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in IES by 10.0% during the first quarter. Vanguard Group Inc. now owns 479,315 shares of the technology company’s stock valued at $58,304,000 after purchasing an additional 43,634 shares during the period. Price T Rowe Associates Inc. MD purchased a new stake in shares of IES in the first quarter worth approximately $286,000. Janus Henderson Group PLC raised its holdings in shares of IES by 27.4% in the first quarter. Janus Henderson Group PLC now owns 26,609 shares of the technology company’s stock worth $3,237,000 after buying an additional 5,720 shares during the period. CWM LLC raised its holdings in shares of IES by 252.7% in the second quarter. CWM LLC now owns 582 shares of the technology company’s stock worth $81,000 after buying an additional 417 shares during the period. Finally, Contravisory Investment Management Inc. purchased a new stake in shares of IES in the second quarter worth approximately $48,000. Institutional investors own 86.60% of the company’s stock.

Wall Street Analyst Weigh In

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

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.