IES (NASDAQ:IESC) Shares Down 4.5% – Time to Sell?

IES Holdings, Inc. (NASDAQ:IESC)’s share price was down 4.5% on Tuesday . The stock traded as low as $216.55 and last traded at $218.43. Approximately 68,587 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 133,589 shares. The stock had previously closed at $228.72.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of IES from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th.

IES Price Performance

The stock has a 50-day moving average of $186.25 and a 200-day moving average of $159.09. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 32.32 and a beta of 1.38.

IES (NASDAQ:IESC) last released its earnings results on Friday, August 2nd. The technology company reported $2.67 earnings per share (EPS) for the quarter. The company had revenue of $768.40 million for the quarter. IES had a return on equity of 34.38% and a net margin of 6.30%.

IES declared that its board has approved a stock repurchase plan on Friday, August 2nd that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, Director Todd M. Cleveland sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $153.57, for a total transaction of $1,535,700.00. Following the sale, the director now owns 104,654 shares in the company, valued at approximately $16,071,714.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other IES news, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $160.61, for a total transaction of $8,152,242.38. Following the completion of the transaction, the chief executive officer now owns 11,134,087 shares of the company’s stock, valued at approximately $1,788,245,713.07. 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 can be accessed through the SEC website. Also, Director Todd M. Cleveland sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $153.57, for a total transaction of $1,535,700.00. Following the completion of the sale, the director now owns 104,654 shares in the company, valued at approximately $16,071,714.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 160,966 shares of company stock worth $26,003,099. 59.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On IES

Institutional investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. acquired a new position in shares of IES during the first quarter worth $48,000. Allspring Global Investments Holdings LLC increased its holdings in IES by 5,687.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,794 shares of the technology company’s stock worth $218,000 after purchasing an additional 1,763 shares in the last quarter. Principal Financial Group Inc. bought a new position in IES in the first quarter valued at about $505,000. Peterson Wealth Services boosted its stake in shares of IES by 151.8% during the first quarter. Peterson Wealth Services now owns 6,937 shares of the technology company’s stock valued at $844,000 after purchasing an additional 4,182 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of IES by 31.1% during the first quarter. BNP Paribas Financial Markets now owns 20,727 shares of the technology company’s stock valued at $2,521,000 after purchasing an additional 4,913 shares in the last quarter. 86.60% of the stock is currently owned by institutional investors and hedge funds.

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.