IES (NASDAQ:IESC) Director Sells $628,389.10 in Stock

Key Points

• Director Todd Cleveland sold 922 shares of IES Holdings for about $628,389, reducing his direct stake by 1.18% while still holding 77,395 shares worth roughly $52.7 million.
• IES beat earnings expectations in its latest quarterly report, posting EPS of $4.16 versus the $3.95 consensus, though revenue of $974.2 million came in below estimates.
• Analyst sentiment remains mixed: Freedom Capital downgraded the stock to Hold, while MarketBeat shows an overall Moderate Buy rating with a $458 average price target.

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report) Director Todd Cleveland sold 922 shares of the business's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $681.55, for a total value of $628,389.10. Following the completion of the transaction, the director directly owned 77,395 shares of the company's stock, valued at approximately $52,748,562.25. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

IES Price Performance

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

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Alps Advisors Inc. increased its holdings 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 worth $2,277,000 after buying an additional 2,159 shares in the last quarter. AltraVue Capital LLC increased its stake in shares of 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 period. RFG Advisory LLC acquired a new position in shares of IES in the third quarter valued at approximately $944,000. Dakota Wealth Management acquired a new position in shares of IES in the fourth quarter valued at approximately $1,018,000. Finally, First Trust Advisors LP increased its stake in shares of IES by 982.7% in the third quarter. First Trust Advisors LP now owns 323,893 shares of the technology company's stock valued at $128,796,000 after buying an additional 293,977 shares during the period. 86.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on IESC. Freedom Capital downgraded shares of IES from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Wall Street Zen raised IES from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 2nd. Finally, Loop Capital set a $458.00 target price on IES in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, IES currently has an average rating of "Moderate Buy" and a consensus price target of $458.00.

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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