IES (NASDAQ:IESC) Cut to Hold at StockNews.com

StockNews.com cut shares of IES (NASDAQ:IESC) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

IES Trading Down 6.2 %

Shares of NASDAQ IESC opened at $285.04 on Wednesday. The stock has a market capitalization of $5.70 billion, a PE ratio of 28.82 and a beta of 1.52. IES has a twelve month low of $80.86 and a twelve month high of $320.08. The stock has a fifty day simple moving average of $249.80 and a 200-day simple moving average of $209.65.

Insiders Place Their Bets

In other IES news, CEO Jeffrey L. Et Al Gendell sold 12,389 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 10,958,900 shares in the company, valued at $2,820,492,093. The trade was a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Tracy Mclauchlin sold 5,000 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $253.02, for a total value of $1,265,100.00. Following the sale, the chief financial officer now directly owns 71,177 shares in the company, valued at $18,009,204.54. This represents a 6.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,359 shares of company stock worth $7,341,029 over the last three months. Company insiders own 56.76% of the company’s stock.

Hedge Funds Weigh In On IES

Several hedge funds and other institutional investors have recently made changes to their positions in IESC. Federated Hermes Inc. increased its stake in shares of IES by 258.7% during the second quarter. Federated Hermes Inc. now owns 269 shares of the technology company’s stock worth $37,000 after buying an additional 194 shares during the period. Gabelli Funds LLC purchased a new stake in shares of IES in the 2nd quarter valued at approximately $209,000. Marshall Wace LLP acquired a new stake in shares of IES in the 2nd quarter valued at $632,000. Cubist Systematic Strategies LLC lifted its position in shares of IES by 42.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 22,175 shares of the technology company’s stock worth $3,090,000 after purchasing an additional 6,568 shares during the last quarter. Finally, Dark Forest Capital Management LP grew its stake in shares of IES by 90.8% during the second quarter. Dark Forest Capital Management LP now owns 7,470 shares of the technology company’s stock worth $1,041,000 after purchasing an additional 3,555 shares in the last quarter. Hedge funds and other institutional investors 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.