IES (NASDAQ:IESC) Stock Price Down 4% – What’s Next?

IES Holdings, Inc. (NASDAQ:IESC) fell 4% during trading on Wednesday . The stock traded as low as $287.10 and last traded at $287.60. 66,201 shares changed hands during trading, a decline of 51% from the average session volume of 134,798 shares. The stock had previously closed at $299.52.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of IES from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th.

IES Trading Down 4.2 %

The company has a market capitalization of $5.73 billion, a PE ratio of 29.01 and a beta of 1.37. The stock’s 50-day moving average is $231.87 and its two-hundred day moving average is $180.85.

IES announced that its Board of Directors has authorized a stock repurchase program on Friday, August 2nd that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, 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 transaction, the director now directly owns 104,654 shares of the company’s stock, valued at approximately $16,071,714.78. This trade represents a 8.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $158.29, for a total value of $7,575,917.69. Following the completion of the sale, the chief executive officer now owns 11,036,984 shares of the company’s stock, valued at $1,747,044,197.36. The trade was a 0.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 95,208 shares of company stock valued at $15,094,607. Insiders own 59.19% of the company’s stock.

Institutional Investors Weigh In On IES

A number of institutional investors and hedge funds have recently bought and sold shares of 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 valued at $37,000 after buying an additional 194 shares during the period. Quest Partners LLC increased its position in IES by 41.0% during the 2nd quarter. Quest Partners LLC now owns 296 shares of the technology company’s stock valued at $41,000 after purchasing an additional 86 shares during the period. Gladius Capital Management LP bought a new stake in shares of IES in the 3rd quarter valued at about $44,000. Contravisory Investment Management Inc. purchased a new stake in shares of IES in the 2nd quarter worth approximately $48,000. Finally, CWM LLC boosted its stake in shares of IES by 252.7% during the second quarter. CWM LLC now owns 582 shares of the technology company’s stock valued at $81,000 after purchasing an additional 417 shares in the last quarter. 86.60% of the stock is owned by institutional investors.

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.