IES (NASDAQ:IESC) Trading 7% Higher – What’s Next?

IES Holdings, Inc. (NASDAQ:IESC) shares shot up 7% on Tuesday . The stock traded as high as $237.50 and last traded at $237.43. 29,342 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 140,442 shares. The stock had previously closed at $221.89.

Analysts Set New Price Targets

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

IES Trading Up 3.8 %

The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 23.28 and a beta of 1.52. The company has a 50 day moving average price of $249.40 and a 200 day moving average price of $202.27.

Insider Activity at IES

In related news, CFO Tracy Mclauchlin sold 5,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 71,177 shares of the company’s stock, valued at approximately $18,009,204.54. This trade represents a 6.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey L. Et Al Gendell sold 12,389 shares of the business’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 sale, the chief executive officer now directly owns 10,958,900 shares in the company, valued at $2,820,492,093. This trade represents a 0.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,359 shares of company stock worth $7,341,029 over the last ninety days. Company insiders own 59.19% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IESC. Summit Partners Public Asset Management LLC increased its position in IES by 165.4% during the third quarter. Summit Partners Public Asset Management LLC now owns 119,438 shares of the technology company’s stock worth $23,842,000 after buying an additional 74,438 shares during the last quarter. Franklin Resources Inc. lifted its holdings in IES by 79.3% during the 3rd quarter. Franklin Resources Inc. now owns 155,426 shares of the technology company’s stock valued at $31,026,000 after purchasing an additional 68,750 shares during the last quarter. FMR LLC boosted its position in IES by 4.6% during the third quarter. FMR LLC now owns 1,476,238 shares of the technology company’s stock worth $294,687,000 after purchasing an additional 65,145 shares during the period. F M Investments LLC acquired a new position in shares of IES in the third quarter valued at $10,887,000. Finally, Thrivent Financial for Lutherans bought a new position in shares of IES in the third quarter valued at about $10,426,000. 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.