IES (NASDAQ:IESC) Chairman Jeffrey Et Al Gendell Sells 40,103 Shares

Key Points

• Chairman Jeffrey Et Al Gendell sold 40,103 shares of IES Holdings on May 6 at an average price of $677.19, generating about $27.16 million in proceeds. After the sale, he still owned more than 10.5 million shares.
• IES reported stronger-than-expected earnings for the latest quarter, posting EPS of $4.16 versus the $3.95 consensus estimate. Revenue came in at $974.2 million, below analyst expectations of $1.01 billion.
• The stock has surged near its 52-week high, trading around $666.70 versus a 52-week range of $235.99 to $688.51. Despite mixed analyst opinions, the stock still carries a consensus rating of “Moderate Buy.”

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report) Chairman Jeffrey Et Al Gendell sold 40,103 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $677.19, for a total transaction of $27,157,350.57. Following the transaction, the chairman directly owned 10,547,058 shares in the company, valued at $7,142,362,207.02. This trade represents a 0.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

IES Price Performance

Shares of IESC traded up $1.07 during trading hours on Friday, hitting $666.70. The stock had a trading volume of 164,427 shares, compared to its average volume of 211,634. The firm has a 50 day simple moving average of $511.80 and a 200-day simple moving average of $456.24. IES Holdings, Inc. has a 1-year low of $235.99 and a 1-year high of $688.51. The firm has a market capitalization of $13.29 billion, a P/E ratio of 35.56 and a beta of 1.81.

IES (NASDAQ:IESC - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The technology company reported $4.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.95 by $0.21. The business had revenue of $974.20 million for the quarter, compared to analyst estimates of $1.01 billion. IES had a return on equity of 33.97% and a net margin of 10.40%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Loop Capital set a $458.00 price objective on shares of IES in a report on Tuesday, February 3rd. Freedom Capital lowered shares of IES from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Finally, Wall Street Zen upgraded IES from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $458.00.

Institutional Trading of IES

Several institutional investors have recently made changes to their positions in IESC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of IES by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,904 shares of the technology company's stock valued at $810,000 after purchasing an additional 223 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in IES by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,787 shares of the technology company's stock valued at $3,762,000 after buying an additional 1,435 shares during the last quarter. Prudential Financial Inc. bought a new position in shares of IES during the 2nd quarter worth approximately $365,000. Quantbot Technologies LP purchased a new position in shares of IES in the 2nd quarter worth approximately $89,000. Finally, Invesco Ltd. boosted its stake in shares of IES by 43.7% in the 2nd quarter. Invesco Ltd. now owns 91,567 shares of the technology company's stock worth $27,125,000 after buying an additional 27,849 shares during the last quarter. Institutional investors own 86.60% of the company's stock.

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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