IES (NASDAQ:IESC) Chairman Jeffrey L. Et Al Gendell Sells 1,710 Shares

Key Points

• IES Holdings, Inc. Chairman Jeffrey L. Et Al Gendell sold 1,710 shares of stock for a total of $607,819.50, reducing his ownership by 0.02% but still holding over $3.8 billion in shares.
• The company reported $3.95 earnings per share for the last quarter, surpassing analyst estimates and achieving a net margin of 8.15% on $890.20 million in revenue.
• Institutional ownership of IES is significant, with 86.60% of the stock held by institutional investors, reflecting recent increases from various funds during the second quarter.

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report) Chairman Jeffrey L. Et Al Gendell sold 1,710 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $355.45, for a total transaction of $607,819.50. Following the transaction, the chairman directly owned 10,913,844 shares in the company, valued at $3,879,325,849.80. This represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

IES Price Performance

Shares of IESC stock traded down $3.15 during trading on Wednesday, hitting $321.59. The company had a trading volume of 136,561 shares, compared to its average volume of 131,590. The firm has a market capitalization of $6.38 billion, a P/E ratio of 24.57 and a beta of 1.67. IES Holdings, Inc. has a one year low of $140.89 and a one year high of $370.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.65 and a current ratio of 1.85. The stock's 50-day moving average price is $313.65 and its 200 day moving average price is $245.58.

IES (NASDAQ:IESC - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The technology company reported $3.95 EPS for the quarter, topping analysts' consensus estimates of $3.55 by $0.40. IES had a return on equity of 37.23% and a net margin of 8.15%.The firm had revenue of $890.20 million for the quarter, compared to analyst estimates of $833.00 million.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of IES from a "buy" rating to a "strong-buy" rating in a research note on Saturday.

Institutional Investors Weigh In On IES

Several hedge funds and other institutional investors have recently made changes to their positions in IESC. Pertento Partners LLP bought a new position in IES in the 2nd quarter valued at approximately $46,916,000. Lord Abbett & CO. LLC bought a new position in shares of IES in the 1st quarter valued at $16,853,000. United Capital Management of KS Inc. acquired a new stake in shares of IES during the 2nd quarter valued at $13,589,000. Invesco Ltd. grew its position in IES by 27.6% during the 4th quarter. Invesco Ltd. now owns 200,799 shares of the technology company's stock worth $40,353,000 after acquiring an additional 43,449 shares during the last quarter. Finally, Man Group plc bought a new position in IES in the fourth quarter valued at about $8,497,000. 86.60% of the stock is 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.