IES Holdings, Inc. (NASDAQ:IESC) Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. trimmed its stake in IES Holdings, Inc. (NASDAQ:IESC) by 7.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,421 shares of the technology company’s stock after selling 110 shares during the period. Freedom Investment Management Inc.’s holdings in IES were worth $284,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of IESC. Hennessy Advisors Inc. purchased a new position in shares of IES in the 2nd quarter valued at $9,558,000. FMR LLC grew its position in shares of IES by 4.6% in the 3rd quarter. FMR LLC now owns 1,476,238 shares of the technology company’s stock valued at $294,687,000 after buying an additional 65,145 shares during the last quarter. F M Investments LLC purchased a new position in shares of IES in the 3rd quarter valued at $10,887,000. Thrivent Financial for Lutherans purchased a new position in shares of IES in the 3rd quarter valued at $10,426,000. Finally, Apis Capital Advisors LLC purchased a new position in shares of IES in the 2nd quarter valued at $6,409,000. 86.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of IES from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th.

IES Stock Performance

Shares of IES stock opened at $309.86 on Monday. IES Holdings, Inc. has a 1 year low of $68.78 and a 1 year high of $318.99. The company has a market capitalization of $6.19 billion, a P/E ratio of 31.33 and a beta of 1.37. The company’s fifty day moving average is $236.46 and its two-hundred day moving average is $182.72.

Insiders Place Their Bets

In other IES news, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $158.29, for a total transaction of $7,575,917.69. Following the transaction, the chief executive officer now directly owns 11,036,984 shares of the company’s stock, valued at approximately $1,747,044,197.36. This trade represents a 0.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Todd M. Cleveland sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $153.57, for a total transaction of $1,535,700.00. Following the transaction, the director now directly owns 104,654 shares in the company, valued at $16,071,714.78. The trade was a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,708 shares of company stock valued at $15,810,182. Insiders own 59.19% 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.