IES (NASDAQ:IESC) Stock Price Down 6.2% – What’s Next?

IES Holdings, Inc. (NASDAQ:IESC) shares were down 6.2% during trading on Wednesday . The stock traded as low as $213.57 and last traded at $211.75. Approximately 39,317 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 223,223 shares. The stock had previously closed at $225.66.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded IES from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th.

IES Trading Down 9.0 %

The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of 19.11 and a beta of 1.52. The firm has a 50-day moving average price of $230.27 and a 200-day moving average price of $219.41.

IES (NASDAQ:IESC) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $2.64 earnings per share for the quarter. IES had a return on equity of 35.81% and a net margin of 7.30%.

Insider Transactions at IES

In other news, VP Mary K. Newman sold 2,500 shares of the firm’s stock in a transaction 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 owns 18,286 shares of the company’s stock, 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 filing with the SEC, which is available at this link. Also, CEO Jeffrey L. Et Al Gendell sold 12,389 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $257.37, for a total value of $3,188,556.93. Following the sale, the chief executive officer now owns 10,958,900 shares of the company’s stock, valued at approximately $2,820,492,093. This represents a 0.11 % 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 valued at $7,341,029 in the last three months. 56.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On IES

Several institutional investors have recently bought and sold shares of the stock. FMR LLC raised its holdings in IES by 4.6% during the third quarter. FMR LLC now owns 1,476,238 shares of the technology company’s stock valued at $294,687,000 after buying an additional 65,145 shares in the last quarter. Vanguard Group Inc. raised its holdings in IES by 38.9% during the fourth quarter. Vanguard Group Inc. now owns 753,331 shares of the technology company’s stock valued at $151,389,000 after buying an additional 210,925 shares in the last quarter. Royce & Associates LP raised its holdings in IES by 15.1% during the third quarter. Royce & Associates LP now owns 294,808 shares of the technology company’s stock valued at $58,850,000 after buying an additional 38,783 shares in the last quarter. Geode Capital Management LLC raised its holdings in IES by 17.0% during the fourth quarter. Geode Capital Management LLC now owns 244,620 shares of the technology company’s stock valued at $49,168,000 after buying an additional 35,474 shares in the last quarter. Finally, State Street Corp increased its stake in shares of IES by 3.2% in the third quarter. State Street Corp now owns 209,943 shares of the technology company’s stock worth $41,909,000 after purchasing an additional 6,492 shares during the period. 86.60% of the stock is currently owned by institutional investors.

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.