IES (NASDAQ:IESC) Shares Down 6.2% – What’s Next?

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IESC. Wall Street Zen raised IES from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of IES in a research note on Tuesday. One analyst has rated the stock with a Buy rating, According to MarketBeat, IES presently has a consensus rating of “Buy”.

IES Price Performance

The company has a market capitalization of $7.20 billion, a PE 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 stock has a 50 day moving average price of $387.22 and a two-hundred day moving average price of $327.32.

Insider Buying and Selling at IES

In related news, Chairman Jeffrey L. Et Al Gendell sold 55,500 shares of IES stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $373.92, for a total value of $20,752,560.00. Following the completion of the sale, the chairman owned 10,801,028 shares of the company’s stock, valued at approximately $4,038,720,389.76. The trade was a 0.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 144,127 shares of company stock worth $53,376,290. 56.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC boosted its position 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 acquiring an additional 71 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of IES in the second quarter valued at about $25,000. SBI Securities Co. Ltd. increased its position in shares of IES by 157.9% during the third quarter. SBI Securities Co. Ltd. now owns 98 shares of the technology company’s stock valued at $39,000 after purchasing an additional 60 shares during the period. Spire Wealth Management acquired a new position in shares of IES in the third quarter valued at $40,000. Finally, Nisa Investment Advisors LLC raised its stake 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 valued at $33,000 after purchasing an additional 101 shares in the last quarter. 86.60% of the stock is owned by institutional investors.

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.