IES (NASDAQ:IESC) Trading Down 5.2% – Here’s Why

IES Holdings, Inc. (NASDAQ:IESC)’s share price traded down 5.2% during mid-day trading on Friday . The stock traded as low as $264.11 and last traded at $266.85. 161,434 shares changed hands during trading, an increase of 18% from the average session volume of 137,010 shares. The stock had previously closed at $281.41.

Analysts Set New Price Targets

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

IES Stock Down 4.9 %

The company’s 50-day moving average is $244.53 and its 200 day moving average is $186.11. The company has a market cap of $5.34 billion, a price-to-earnings ratio of 28.45 and a beta of 1.45.

Insider Activity at IES

In other news, VP Mary K. Newman sold 2,500 shares of IES stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $286.23, for a total value of $715,575.00. Following the sale, the vice president now owns 18,286 shares in the company, valued at $5,234,001.78. This trade represents a 12.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Todd M. Cleveland sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $153.57, for a total transaction of $1,535,700.00. Following the transaction, the director now owns 104,654 shares of the company’s stock, valued at approximately $16,071,714.78. This trade represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,708 shares of company stock worth $17,863,422 in the last 90 days. Corporate insiders own 59.19% of the company’s stock.

Institutional Investors Weigh In On IES

Several institutional investors have recently bought and sold shares of IESC. Franklin Resources Inc. lifted its position 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 valued at $31,026,000 after acquiring an additional 68,750 shares in the last quarter. Tidal Investments LLC acquired a new position in IES in the 3rd quarter valued at $332,000. Arete Wealth Advisors LLC purchased a new position in IES in the 3rd quarter valued at $335,000. Geode Capital Management LLC boosted its stake in IES by 0.3% during 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 during the last quarter. Finally, Barclays PLC grew its holdings in shares of IES by 411.1% during the third quarter. Barclays PLC now owns 15,176 shares of the technology company’s stock worth $3,029,000 after buying an additional 12,207 shares in the last quarter. 86.60% of the stock is currently owned by institutional investors and hedge funds.

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.