IES (NASDAQ:IESC) Chairman Jeffrey Et Al Gendell Sells 7,052 Shares

Key Points

• Chairman Jeffrey Et Al Gendell sold 7,052 shares of IES Holdings on May 8 at an average price of $674.25, for total proceeds of about $4.75 million. After the sale, he still owned more than 10.54 million shares.
• IES shares were slightly higher on Friday, trading up 0.2% to $666.70, near the stock’s 52-week high of $688.51. The company’s market value stood at about $13.29 billion.
• Recent earnings topped expectations, with IES reporting Q1 EPS of $4.16 versus analyst estimates of $3.95. Revenue came in at $974.2 million, below the consensus estimate of $1.01 billion.

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report) Chairman Jeffrey Et Al Gendell sold 7,052 shares of IES stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $674.25, for a total value of $4,754,811.00. Following the completion of the transaction, the chairman owned 10,540,005 shares of the company's stock, valued at approximately $7,106,598,371.25. This represents a 0.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

IES Trading Up 0.2%

IESC traded up $1.07 during trading on Friday, hitting $666.70. The company's stock had a trading volume of 164,427 shares, compared to its average volume of 211,634. The firm has a market capitalization of $13.29 billion, a price-to-earnings ratio of 35.56 and a beta of 1.81. IES Holdings, Inc. has a twelve month low of $235.99 and a twelve month high of $688.51. The business's fifty day simple moving average is $511.80 and its 200 day simple moving average is $456.24.

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

Hedge Funds Weigh In On IES

Several large investors have recently modified their holdings of IESC. AltraVue Capital LLC lifted its position in IES by 2.1% in the third quarter. AltraVue Capital LLC now owns 166,267 shares of the technology company's stock valued at $66,116,000 after buying an additional 3,370 shares during the last quarter. Alps Advisors Inc. increased its position in shares of IES by 60.5% during the third quarter. Alps Advisors Inc. now owns 5,726 shares of the technology company's stock valued at $2,277,000 after acquiring an additional 2,159 shares during the last quarter. RFG Advisory LLC acquired a new position in shares of IES in the 3rd quarter worth approximately $944,000. Dakota Wealth Management purchased a new position in shares of IES during the 4th quarter worth approximately $1,018,000. Finally, First Trust Advisors LP increased its holdings in IES by 982.7% in the 3rd quarter. First Trust Advisors LP now owns 323,893 shares of the technology company's stock valued at $128,796,000 after purchasing an additional 293,977 shares during the last quarter. Institutional investors and hedge funds own 86.60% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Loop Capital set a $458.00 price target on IES in a research report on Tuesday, February 3rd. Wall Street Zen upgraded shares of IES from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 2nd. Finally, Freedom Capital lowered IES from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $458.00.

About IES

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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