IES (NASDAQ:IESC) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of IES (NASDAQ:IESC) from a buy rating to a hold rating in a research report released on Wednesday morning.

IES Trading Up 14.5 %

IES stock opened at $316.26 on Wednesday. The company has a fifty day simple moving average of $248.49 and a 200-day simple moving average of $207.99. The stock has a market cap of $6.33 billion, a P/E ratio of 31.98 and a beta of 1.52. IES has a 12-month low of $80.86 and a 12-month high of $320.08.

Insider Activity

In other 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 sale, the chief executive officer now owns 10,957,184 shares in the company, valued at approximately $2,763,949,664. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mary K. Newman sold 2,500 shares of the stock in a transaction 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 directly owns 18,286 shares in the company, valued at $5,234,001.78. This trade represents a 12.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,359 shares of company stock worth $7,341,029. 56.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IES

Large investors have recently bought and sold shares of the stock. Federated Hermes Inc. increased its position in 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. Gladius Capital Management LP purchased a new stake in IES in the 3rd quarter valued at $44,000. KBC Group NV boosted its stake in shares of IES by 52.5% during the fourth quarter. KBC Group NV now owns 401 shares of the technology company’s stock worth $81,000 after buying an additional 138 shares during the period. City State Bank purchased a new position in shares of IES during the fourth quarter worth about $106,000. Finally, CWM LLC increased its position in IES by 17.2% in the 3rd quarter. CWM LLC now owns 682 shares of the technology company’s stock valued at $136,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds 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.