StockNews.com Downgrades IES (NASDAQ:IESC) to Hold

IES (NASDAQ:IESC) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

IES Price Performance

IES stock opened at $303.74 on Wednesday. IES has a fifty-two week low of $80.86 and a fifty-two week high of $320.08. The company’s 50 day simple moving average is $249.26 and its 200 day simple moving average is $208.65. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of 30.71 and a beta of 1.52.

Insider Activity

In other news, CEO Jeffrey L. Et Al Gendell sold 470 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $252.25, for a total value of $118,557.50. Following the completion of the transaction, the chief executive officer now owns 10,957,184 shares in the company, valued at $2,763,949,664. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mary K. Newman sold 2,500 shares of the company’s stock in a transaction that occurred 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 27,359 shares of company stock worth $7,341,029 over the last quarter. 56.76% of the stock is currently owned by company insiders.

Institutional Trading of IES

Institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. lifted its position in shares of IES by 258.7% in the second quarter. Federated Hermes Inc. now owns 269 shares of the technology company’s stock worth $37,000 after purchasing an additional 194 shares in the last quarter. Gladius Capital Management LP bought a new stake in shares of IES in the third quarter worth $44,000. KBC Group NV lifted its position 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 purchasing an additional 138 shares in the last quarter. City State Bank bought a new stake in shares of IES in the fourth quarter worth $106,000. Finally, CWM LLC lifted its position in shares of IES by 17.2% in the third quarter. CWM LLC now owns 682 shares of the technology company’s stock worth $136,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 86.60% of the company’s stock.

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.