IES (NASDAQ:IESC) Stock Price Down 4.5% - Here's Why

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report) shares traded down 4.5% during mid-day trading on Tuesday . The company traded as low as $216.55 and last traded at $218.43. 68,587 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 133,589 shares. The stock had previously closed at $228.72.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered IES from a "buy" rating to a "hold" rating in a research report on Tuesday, October 15th.

IES Trading Down 6.6 %

The stock has a 50-day simple moving average of $186.25 and a 200-day simple moving average of $159.09. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of 32.32 and a beta of 1.38.

IES (NASDAQ:IESC - Get Free Report) last announced its earnings results on Friday, August 2nd. The technology company reported $2.67 earnings per share (EPS) for the quarter. IES had a return on equity of 34.38% and a net margin of 6.30%. The company had revenue of $768.40 million for the quarter.

IES announced that its Board of Directors has authorized a share buyback plan on Friday, August 2nd that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the technology company to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Insider Activity

In other news, Director David B. Gendell sold 10,000 shares of the business's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $187.26, for a total value of $1,872,600.00. Following the completion of the sale, the director now directly owns 127,976 shares in the company, valued at approximately $23,964,785.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director David B. Gendell sold 10,000 shares of the company's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $187.26, for a total transaction of $1,872,600.00. Following the completion of the transaction, the director now directly owns 127,976 shares in the company, valued at $23,964,785.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the company's stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $160.61, for a total value of $8,152,242.38. Following the transaction, the chief executive officer now owns 11,134,087 shares of the company's stock, valued at approximately $1,788,245,713.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 160,966 shares of company stock worth $26,003,099. 59.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IESC. SG Americas Securities LLC acquired a new stake in shares of IES in the second quarter valued at $3,328,000. BNP Paribas Financial Markets lifted its holdings in shares of IES by 31.1% in the first quarter. BNP Paribas Financial Markets now owns 20,727 shares of the technology company's stock valued at $2,521,000 after buying an additional 4,913 shares during the period. Truvestments Capital LLC acquired a new stake in shares of IES in the first quarter valued at $499,000. Acadian Asset Management LLC lifted its holdings in shares of IES by 1,863.1% in the first quarter. Acadian Asset Management LLC now owns 12,446 shares of the technology company's stock valued at $1,512,000 after buying an additional 11,812 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of IES by 27.4% during the first quarter. Janus Henderson Group PLC now owns 26,609 shares of the technology company's stock valued at $3,237,000 after purchasing an additional 5,720 shares during the last quarter. 86.60% of the stock is currently owned by institutional investors.

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.