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

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

Analysts Set New Price Targets

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

IES Stock Down 6.2 %

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

Insider Activity at IES

In other news, VP Mary K. Newman sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $286.23, for a total value of $715,575.00. Following the completion of the sale, the vice president now directly owns 18,286 shares in the company, valued at $5,234,001.78. The trade was a 12.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey L. Et Al Gendell sold 12,389 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $257.37, for a total value of $3,188,556.93. Following the completion of the sale, the chief executive officer now owns 10,958,900 shares of the company’s stock, valued at $2,820,492,093. This trade represents a 0.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,359 shares of company stock worth $7,341,029. 56.76% of the stock is owned by corporate insiders.

Institutional Trading of IES

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Highland Capital Management LLC purchased a new stake in shares of IES in the fourth quarter valued at approximately $212,000. KBC Group NV boosted its stake in shares of 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 during the last quarter. Hennessy Advisors Inc. boosted its stake in shares of IES by 6.9% in the fourth quarter. Hennessy Advisors Inc. now owns 82,600 shares of the technology company’s stock worth $16,599,000 after acquiring an additional 5,300 shares during the last quarter. City State Bank acquired a new stake in shares of IES in the fourth quarter worth approximately $106,000. Finally, JPMorgan Chase & Co. boosted its stake 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 acquiring an additional 1,027 shares during the last quarter. 86.60% of the stock is currently owned by hedge funds and other institutional investors.

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.