IES (NASDAQ:IESC) Trading Up 7.8% – Here’s What Happened

IES Holdings, Inc. (NASDAQ:IESC)’s stock price rose 7.8% during trading on Wednesday . The stock traded as high as $307.90 and last traded at $297.95. Approximately 38,950 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 147,747 shares. The stock had previously closed at $276.32.

Analyst Ratings Changes

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

IES Price Performance

The company’s 50 day simple moving average is $249.26 and its 200 day simple moving average is $208.65. The company has a market capitalization of $6.08 billion, a PE ratio of 30.71 and a beta of 1.52.

Insider Activity at IES

In related news, VP Mary K. Newman sold 2,500 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $286.23, for a total transaction of $715,575.00. Following the completion of the sale, the vice president now owns 18,286 shares in the company, valued at $5,234,001.78. This represents a 12.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey L. Et Al Gendell sold 12,389 shares of IES stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $257.37, for a total transaction of $3,188,556.93. Following the completion of the transaction, the chief executive officer now owns 10,958,900 shares in the company, 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 over the last ninety days. Insiders own 56.76% of the company’s stock.

Hedge Funds Weigh In On IES

Several institutional investors have recently added to or reduced their stakes in IESC. Andina Capital Management LLC increased its stake in shares of IES by 4.0% during the third quarter. Andina Capital Management LLC now owns 2,496 shares of the technology company’s stock worth $498,000 after acquiring an additional 96 shares during the period. CWM LLC lifted its stake in shares of IES by 17.2% in the third quarter. CWM LLC now owns 682 shares of the technology company’s stock valued at $136,000 after purchasing an additional 100 shares during the period. KBC Group NV boosted its holdings in IES by 52.5% during the fourth quarter. KBC Group NV now owns 401 shares of the technology company’s stock worth $81,000 after buying an additional 138 shares in the last quarter. Cetera Investment Advisers grew its position in IES by 2.2% during the second quarter. Cetera Investment Advisers now owns 8,690 shares of the technology company’s stock worth $1,211,000 after buying an additional 190 shares during the period. Finally, Federated Hermes Inc. increased its holdings in IES by 258.7% in the second quarter. Federated Hermes Inc. now owns 269 shares of the technology company’s stock valued at $37,000 after buying an additional 194 shares in the last quarter. Institutional investors and hedge funds own 86.60% of the company’s stock.

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.