Mary K. Newman Sells 2,500 Shares of IES Holdings, Inc. (NASDAQ:IESC) Stock

IES Holdings, Inc. (NASDAQ:IESC) VP Mary K. Newman sold 2,500 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $286.23, for a total value of $715,575.00. Following the completion of the transaction, the vice president now directly owns 18,286 shares in the company, valued at approximately $5,234,001.78. This trade represents a 12.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

IES Price Performance

NASDAQ IESC traded up $22.91 during midday trading on Friday, hitting $309.86. 136,752 shares of the company traded hands, compared to its average volume of 135,730. The company has a market cap of $6.19 billion, a PE ratio of 31.40 and a beta of 1.37. The company’s 50-day simple moving average is $233.94 and its 200-day simple moving average is $181.58. IES Holdings, Inc. has a 52 week low of $68.78 and a 52 week high of $318.99.

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

Institutional Trading of IES

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. boosted its position in IES by 258.7% during the 2nd quarter. Federated Hermes Inc. now owns 269 shares of the technology company’s stock valued at $37,000 after acquiring an additional 194 shares in the last quarter. Quest Partners LLC boosted its position in IES by 41.0% during the 2nd quarter. Quest Partners LLC now owns 296 shares of the technology company’s stock valued at $41,000 after acquiring an additional 86 shares in the last quarter. Gladius Capital Management LP purchased a new stake in shares of IES during the 3rd quarter valued at $44,000. Contravisory Investment Management Inc. purchased a new stake in shares of IES during the 2nd quarter valued at $48,000. Finally, CWM LLC lifted its holdings in shares of IES by 252.7% during the 2nd quarter. CWM LLC now owns 582 shares of the technology company’s stock valued at $81,000 after purchasing an additional 417 shares during the last quarter. Institutional investors own 86.60% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut IES from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th.

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.