IES (NASDAQ:IESC) Shares Down 4.1% After Insider Selling

Shares of IES Holdings, Inc. (NASDAQ:IESC) fell 4.1% during mid-day trading on Monday following insider selling activity. The stock traded as low as $235.00 and last traded at $235.00. 57,752 shares traded hands during trading, a decline of 58% from the average session volume of 138,321 shares. The stock had previously closed at $245.15.

Specifically, CEO Jeffrey L. Et Al Gendell sold 12,389 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $257.37, for a total transaction of $3,188,556.93. Following the transaction, the chief executive officer now directly owns 10,958,900 shares of the company’s stock, valued at $2,820,492,093. This represents a 0.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Tracy Mclauchlin sold 5,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $253.02, for a total value of $1,265,100.00. Following the transaction, the chief financial officer now directly owns 71,177 shares in the company, valued at $18,009,204.54. This represents a 6.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised IES from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th.

IES Stock Performance

The company has a 50 day simple moving average of $251.06 and a two-hundred day simple moving average of $191.02. The firm has a market cap of $4.45 billion, a PE ratio of 22.51 and a beta of 1.45.

Institutional Trading of IES

Large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in IES by 56.9% during the 3rd quarter. Principal Financial Group Inc. now owns 7,269 shares of the technology company’s stock valued at $1,451,000 after purchasing an additional 2,636 shares during the last quarter. Versor Investments LP purchased a new stake in IES during the 2nd quarter valued at about $934,000. Thrivent Financial for Lutherans purchased a new stake in IES during the 3rd quarter valued at about $10,426,000. Summit Partners Public Asset Management LLC grew its stake in IES by 165.4% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 119,438 shares of the technology company’s stock valued at $23,842,000 after purchasing an additional 74,438 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of IES by 4.6% in the third quarter. FMR LLC now owns 1,476,238 shares of the technology company’s stock worth $294,687,000 after buying an additional 65,145 shares during 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.