IES (NASDAQ:IESC) Sees Strong Trading Volume

IES Holdings, Inc. (NASDAQ:IESC) shares saw unusually-strong trading volume on Friday . Approximately 54,406 shares changed hands during mid-day trading, a decline of 59% from the previous session’s volume of 134,314 shares.The stock last traded at $156.75 and had previously closed at $157.15.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of IES from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th.

IES Stock Performance

The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 24.30 and a beta of 1.38. The firm has a fifty day moving average price of $159.76 and a 200 day moving average price of $142.59.

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

Insiders Place Their Bets

In other news, Director Todd M. Cleveland sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $153.57, for a total transaction of $1,535,700.00. Following the sale, the director now owns 104,654 shares of the company’s stock, valued at approximately $16,071,714.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, 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 completion of the transaction, the chief executive officer now owns 11,134,087 shares in the company, valued at $1,788,245,713.07. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Todd M. Cleveland sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $153.57, for a total transaction of $1,535,700.00. Following the completion of the sale, the director now owns 104,654 shares in the company, valued at $16,071,714.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,758 shares of company stock worth $12,444,192. 59.19% of the stock is owned by company insiders.

Institutional Trading of IES

Several institutional investors and hedge funds have recently modified their holdings of IESC. Federated Hermes Inc. increased its stake in shares of IES by 258.7% during the 2nd quarter. Federated Hermes Inc. now owns 269 shares of the technology company’s stock worth $37,000 after purchasing an additional 194 shares in the last quarter. Quest Partners LLC increased its position in IES by 41.0% during the second quarter. Quest Partners LLC now owns 296 shares of the technology company’s stock worth $41,000 after buying an additional 86 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in IES during the first quarter worth $48,000. Contravisory Investment Management Inc. acquired a new position in shares of IES in the second quarter worth $48,000. Finally, CWM LLC lifted its position in shares of IES by 252.7% in the second quarter. CWM LLC now owns 582 shares of the technology company’s stock valued at $81,000 after acquiring an additional 417 shares in the last quarter. 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.