IES (NASDAQ:IESC) Stock Price Down 6.2% – Here’s Why

IES Holdings, Inc. (NASDAQ:IESC)’s stock price traded down 6.2% during mid-day trading on Thursday . The stock traded as low as $363.98 and last traded at $364.9450. 13,824 shares were traded during mid-day trading, a decline of 92% from the average session volume of 175,703 shares. The stock had previously closed at $389.25.

Analyst Ratings Changes

IESC has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of IES from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of IES in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

IES Stock Down 6.8%

The stock has a market cap of $7.20 billion, a P/E ratio of 27.82 and a beta of 1.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.65 and a current ratio of 1.85. The firm’s 50-day moving average is $387.22 and its two-hundred day moving average is $327.32.

Insider Activity

In related news, Chairman Jeffrey L. Et Al Gendell sold 6,811 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $380.74, for a total value of $2,593,220.14. Following the sale, the chairman directly owned 10,769,717 shares of the company’s stock, valued at approximately $4,100,462,050.58. The trade was a 0.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 144,127 shares of company stock worth $53,376,290 over the last ninety days. 56.76% of the stock is owned by corporate insiders.

Institutional Trading of IES

Hedge funds and other institutional investors have recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in IES in the 2nd quarter valued at approximately $25,000. Global Retirement Partners LLC raised its holdings in shares of IES by 1,014.3% in the third quarter. Global Retirement Partners LLC now owns 78 shares of the technology company’s stock valued at $31,000 after purchasing an additional 71 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of IES by 841.7% in the second quarter. Nisa Investment Advisors LLC now owns 113 shares of the technology company’s stock worth $33,000 after purchasing an additional 101 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in IES by 157.9% during the third quarter. SBI Securities Co. Ltd. now owns 98 shares of the technology company’s stock worth $39,000 after purchasing an additional 60 shares during the last quarter. Finally, Spire Wealth Management acquired a new stake in IES in the 3rd quarter valued at $40,000. 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.