IES (NASDAQ:IESC) Chairman Jeffrey L. Et Al Gendell Sells 55,500 Shares

Key Points

• IES Holdings, Inc. Chairman Jeffrey Et Al Gendell sold 55,500 shares at an average price of $373.92, totaling approximately $20.75 million, reducing his ownership stake by 0.51%.
• The company reported earnings per share of $3.95 for the last quarter, exceeding estimates of $3.55, with revenues of $890.20 million beating expectations of $833.00 million.
• IES's stock has seen a price range between a 52-week low of $146.51 and a high of $388.70, with a current market capitalization of $7.50 billion.

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report) Chairman Jeffrey L. Et Al Gendell sold 55,500 shares of the business's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $373.92, for a total value of $20,752,560.00. Following the completion of the sale, the chairman directly owned 10,801,028 shares of the company's stock, valued at $4,038,720,389.76. The trade was a 0.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

IES Stock Down 2.5%

IES stock traded down $9.17 during mid-day trading on Wednesday, reaching $357.71. The stock had a trading volume of 130,937 shares, compared to its average volume of 134,332. The firm has a market capitalization of $7.10 billion, a PE ratio of 27.33 and a beta of 1.64. IES Holdings, Inc. has a fifty-two week low of $146.51 and a fifty-two week high of $388.70. The stock's 50-day simple moving average is $342.05 and its 200-day simple moving average is $265.96. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.65 and a current ratio of 1.85.

IES (NASDAQ:IESC - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The technology company reported $3.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.55 by $0.40. IES had a net margin of 8.15% and a return on equity of 37.23%. The business had revenue of $890.20 million during the quarter, compared to the consensus estimate of $833.00 million.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of IES from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 16th.

Hedge Funds Weigh In On IES

Several institutional investors and hedge funds have recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in shares of IES in the second quarter valued at $25,000. Nisa Investment Advisors LLC increased its holdings in IES by 841.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 113 shares of the technology company's stock worth $33,000 after acquiring an additional 101 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in IES in the 1st quarter valued at about $36,000. Elevation Point Wealth Partners LLC purchased a new stake in IES during the second quarter valued at about $47,000. Finally, Blue Trust Inc. boosted its position in IES by 82.7% during the second quarter. Blue Trust Inc. now owns 243 shares of the technology company's stock worth $72,000 after purchasing an additional 110 shares during the period. 86.60% of the stock is owned by institutional investors.

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.