IES (NASDAQ:IESC) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of IES (NASDAQ:IESC) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

IES Stock Down 6.2 %

Shares of NASDAQ IESC opened at $285.04 on Wednesday. The business has a 50-day moving average price of $249.80 and a 200 day moving average price of $209.65. The stock has a market cap of $5.70 billion, a PE ratio of 28.82 and a beta of 1.52. IES has a 52-week low of $80.86 and a 52-week high of $320.08.

Insider Transactions at IES

In other IES news, CFO Tracy Mclauchlin sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $253.02, for a total transaction of $1,265,100.00. Following the completion of the sale, the chief financial officer now directly owns 71,177 shares of the company’s stock, valued at $18,009,204.54. This represents a 6.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey L. Et Al Gendell sold 470 shares of IES 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,359 shares of company stock worth $7,341,029. Insiders own 56.76% of the company’s stock.

Institutional Investors Weigh In On IES

Several large investors have recently modified their holdings of the stock. Federated Hermes Inc. increased its stake in IES by 258.7% in the 2nd 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. Gabelli Funds LLC purchased a new stake in shares of IES in the second quarter valued at about $209,000. Marshall Wace LLP acquired a new position in shares of IES during the second quarter worth about $632,000. Cubist Systematic Strategies LLC raised its holdings in IES by 42.1% during the second quarter. Cubist Systematic Strategies LLC now owns 22,175 shares of the technology company’s stock worth $3,090,000 after purchasing an additional 6,568 shares in the last quarter. Finally, Dark Forest Capital Management LP lifted its position in IES by 90.8% in the second quarter. Dark Forest Capital Management LP now owns 7,470 shares of the technology company’s stock valued at $1,041,000 after purchasing an additional 3,555 shares during the period. Hedge funds and other 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.