IES Holdings, Inc. (NASDAQ:IESC – Get Free Report) was down 10.4% during trading on Tuesday . The company traded as low as $597.03 and last traded at $600.81. Approximately 60,479 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 228,555 shares. The stock had previously closed at $670.79.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on IESC shares. Wall Street Zen cut shares of IES from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Weiss Ratings reissued a “buy (b)” rating on shares of IES in a report on Thursday, June 18th. Finally, Freedom Capital lowered shares of IES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, IES currently has an average rating of “Moderate Buy” and a consensus price target of $458.00.
View Our Latest Analysis on IESC
IES Stock Performance
IES (NASDAQ:IESC – Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The technology company reported $4.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.95 by $0.21. IES had a return on equity of 33.97% and a net margin of 10.40%.The company had revenue of $974.20 million for the quarter, compared to analyst estimates of $1.01 billion.
Insiders Place Their Bets
In other IES news, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of IES stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $756.47, for a total value of $35,342,278.40. Following the transaction, the chairman owned 10,406,559 shares in the company, valued at $7,872,249,686.73. The trade was a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Tracy Mclauchlin sold 3,000 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $662.61, for a total value of $1,987,830.00. Following the transaction, the chief financial officer directly owned 62,525 shares of the company’s stock, valued at approximately $41,429,690.25. The trade was a 4.58% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 208,102 shares of company stock worth $146,518,202. Insiders own 56.43% of the company’s stock.
Hedge Funds Weigh In On IES
A number of institutional investors have recently added to or reduced their stakes in IESC. Optiver Holding B.V. lifted its stake in IES by 62.5% in the 1st quarter. Optiver Holding B.V. now owns 52 shares of the technology company’s stock valued at $25,000 after purchasing an additional 20 shares during the last quarter. Blue Trust Inc. grew its stake in shares of IES by 7.5% during the fourth quarter. Blue Trust Inc. now owns 400 shares of the technology company’s stock worth $156,000 after buying an additional 28 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of IES by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 244 shares of the technology company’s stock worth $95,000 after buying an additional 31 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of IES by 121.4% during the first quarter. Parallel Advisors LLC now owns 62 shares of the technology company’s stock worth $30,000 after buying an additional 34 shares in the last quarter. Finally, KPP Advisory Services LLC increased its holdings in shares of IES by 5.3% during the first quarter. KPP Advisory Services LLC now owns 699 shares of the technology company’s stock worth $333,000 after buying an additional 35 shares in the last quarter. 86.60% of the stock is currently owned by institutional investors and hedge funds.
IES Company Profile
IES Holdings, Inc (NASDAQ: IESC) is a specialty contractor providing integrated electrical and mechanical construction services, engineering, and systems integration across North America. The company focuses on delivering end-to-end solutions for commercial, industrial and mission-critical facilities, combining design, build, commission and maintenance capabilities to serve a wide range of markets.
Through its subsidiaries, IES offers a comprehensive portfolio of services including electrical distribution and infrastructure, mechanical contracting, process piping, controls and automation, energy management, and ongoing service and maintenance.
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