IES (NASDAQ:IESC) Stock Price Down 6% – Time to Sell?

IES Holdings, Inc. (NASDAQ:IESC)’s share price dropped 6% during trading on Tuesday . The stock traded as low as $225.88 and last traded at $227.30. Approximately 35,441 shares changed hands during trading, a decline of 69% from the average daily volume of 115,145 shares. The stock had previously closed at $241.89.

Analyst Ratings Changes

Separately, StockNews.com raised IES from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th.

IES Price Performance

The stock has a market capitalization of $4.62 billion, a P/E ratio of 23.39 and a beta of 1.52. The company has a 50 day simple moving average of $249.56 and a 200-day simple moving average of $199.16.

Insiders Place Their Bets

In related news, CEO Jeffrey L. Et Al Gendell sold 470 shares of the business’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 transaction of $118,557.50. Following the completion of the transaction, the chief executive officer now owns 10,957,184 shares of the company’s stock, valued at approximately $2,763,949,664. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $286.23, for a total transaction of $715,575.00. Following the sale, the vice president now directly owns 18,286 shares in the company, 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. 59.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On IES

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in shares of IES by 9.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 38,215 shares of the technology company’s stock valued at $5,324,000 after acquiring an additional 3,178 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in IES in the 2nd quarter worth approximately $170,000. Principal Financial Group Inc. increased its holdings in shares of IES by 11.7% in the 2nd quarter. Principal Financial Group Inc. now owns 4,633 shares of the technology company’s stock worth $646,000 after buying an additional 485 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of IES by 1.6% in the 2nd quarter. Rhumbline Advisers now owns 12,400 shares of the technology company’s stock worth $1,728,000 after buying an additional 197 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of IES by 106.9% during the 2nd quarter. Victory Capital Management Inc. now owns 10,014 shares of the technology company’s stock valued at $1,395,000 after buying an additional 5,173 shares in the last quarter. 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.