IES (NASDAQ:IESC) Stock Price Crosses Above 200-Day Moving Average - Here's Why

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $197.54 and traded as high as $225.71. IES shares last traded at $225.67, with a volume of 144,082 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded IES from a "hold" rating to a "buy" rating in a research note on Tuesday, December 10th.

IES Trading Up 7.6 %

The business has a 50-day moving average of $248.94 and a two-hundred day moving average of $197.97. The firm has a market cap of $4.51 billion, a P/E ratio of 22.82 and a beta of 1.52.

Insider Activity at IES

In other IES news, CEO Jeffrey L. Et Al Gendell sold 12,389 shares of the firm's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $257.37, for a total transaction of $3,188,556.93. Following the completion of the transaction, the chief executive officer now owns 10,958,900 shares in the company, valued at approximately $2,820,492,093. This trade represents a 0.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mary K. Newman sold 2,500 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $286.23, for a total transaction of $715,575.00. Following the sale, the vice president now owns 18,286 shares of the company's stock, valued at approximately $5,234,001.78. This trade represents a 12.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,359 shares of company stock worth $7,341,029 over the last three months. Company insiders own 59.19% of the company's stock.

Institutional Trading of IES

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of IES by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 41,482 shares of the technology company's stock worth $8,281,000 after purchasing an additional 1,027 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of IES by 56.9% in the third quarter. Principal Financial Group Inc. now owns 7,269 shares of the technology company's stock valued at $1,451,000 after buying an additional 2,636 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of IES by 79.3% in the third quarter. Franklin Resources Inc. now owns 155,426 shares of the technology company's stock valued at $31,026,000 after buying an additional 68,750 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of IES during the third quarter valued at about $332,000. Finally, Arete Wealth Advisors LLC bought a new stake in shares of IES during the third quarter worth about $335,000. Institutional investors and hedge funds own 86.60% of the company's stock.

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.