IES (NASDAQ:IESC) Shares Down 6% – What’s Next?

IES Holdings, Inc. (NASDAQ:IESC) 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 were traded during mid-day trading, a decline of 69% from the average daily volume of 115,145 shares. The stock had previously closed at $241.89.

Analysts Set New Price Targets

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

IES Price Performance

The stock has a market capitalization of $4.41 billion, a P/E ratio of 22.35 and a beta of 1.52. The stock has a fifty day moving average price of $249.85 and a 200 day moving average price of $199.97.

Insiders Place Their Bets

In other IES news, 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 completion of the transaction, the chief executive officer now directly owns 10,957,184 shares of the company’s stock, valued at $2,763,949,664. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Tracy Mclauchlin sold 5,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $253.02, for a total transaction of $1,265,100.00. Following the transaction, the chief financial officer now owns 71,177 shares of the company’s stock, valued at $18,009,204.54. This trade represents a 6.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,359 shares of company stock worth $7,341,029 in the last quarter. 59.19% of the stock is owned by company insiders.

Institutional Trading of IES

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in shares of IES by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 41,482 shares of the technology company’s stock worth $8,281,000 after purchasing an additional 1,027 shares during the last quarter. Principal Financial Group Inc. grew its stake in IES by 56.9% in the 3rd quarter. Principal Financial Group Inc. now owns 7,269 shares of the technology company’s stock worth $1,451,000 after buying an additional 2,636 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of IES by 79.3% in the 3rd 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. Tidal Investments LLC purchased a new stake in shares of IES during the 3rd quarter valued at $332,000. Finally, Arete Wealth Advisors LLC bought a new stake in shares of IES during the 3rd quarter worth $335,000. Hedge funds and other institutional investors 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.