IES (NASDAQ:IESC) Shares Down 4.5% – Here’s Why

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

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of IES from a “hold” rating to a “buy” rating in a research note on Wednesday.

IES Price Performance

The firm has a market cap of $4.27 billion, a P/E ratio of 31.79 and a beta of 1.38. The company’s 50 day moving average is $187.93 and its two-hundred day moving average is $160.01.

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

IES declared that its Board of Directors has initiated a stock repurchase plan on Friday, August 2nd that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at IES

In other news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $160.20, for a total value of $5,982,989.40. Following the transaction, the chief executive officer now directly owns 10,934,845 shares in the company, valued at $1,751,762,169. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $160.20, for a total value of $5,982,989.40. Following the completion of the transaction, the chief executive officer now owns 10,934,845 shares of the company’s stock, valued at $1,751,762,169. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $160.61, for a total value of $8,152,242.38. Following the sale, the chief executive officer now directly owns 11,134,087 shares in the company, valued at $1,788,245,713.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 160,966 shares of company stock worth $26,003,099 over the last 90 days. Insiders own 59.19% of the company’s stock.

Institutional Inflows and Outflows

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