IES (NASDAQ:IESC) Releases Earnings Results, Beats Estimates By $0.21 EPS

Key Points

• EPS beat: IES reported quarterly EPS of $4.16, beating consensus by $0.21, and posted a 9.70% net margin with a 35.62% return on equity.
• Stock and valuation: Shares jumped 1.8% to $655.64 on heavy volume, giving a $13.07 billion market cap and a P/E of 39, notably trading well above the analysts' average target of $458.
• Insider activity: Company insiders sold about 20,659 shares worth $10.64 million over the quarter (including sales by the chairman and CEO), while insiders still hold 56.43% of shares and institutions own 86.60% as reported.

IES (NASDAQ:IESC - Get Free Report) released its quarterly earnings data on Friday. The technology company reported $4.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.95 by $0.21, Zacks reports. IES had a net margin of 9.70% and a return on equity of 35.62%.

IES Trading Up 1.8%

Shares of NASDAQ:IESC traded up $11.56 on Friday, hitting $655.64. 350,536 shares of the company were exchanged, compared to its average volume of 203,035. IES has a 1-year low of $213.57 and a 1-year high of $675.00. The stock's 50 day moving average price is $502.55 and its 200 day moving average price is $449.51. The firm has a market capitalization of $13.07 billion, a P/E ratio of 39.00 and a beta of 1.81.

Insider Buying and Selling at IES

In other IES news, Chairman Jeffrey L. Et Al Gendell sold 5,048 shares of IES stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $529.50, for a total value of $2,672,916.00. Following the completion of the transaction, the chairman owned 10,590,272 shares of the company's stock, valued at approximately $5,607,549,024. The trade was a 0.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew J. Simmes sold 5,000 shares of IES stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $506.26, for a total transaction of $2,531,300.00. Following the completion of the transaction, the chief executive officer directly owned 93,575 shares of the company's stock, valued at $47,373,279.50. The trade was a 5.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 20,659 shares of company stock valued at $10,636,940. Corporate insiders own 56.43% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IESC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 worth $810,000 after purchasing an additional 223 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings 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 purchasing an additional 1,435 shares during the last quarter. Prudential Financial Inc. acquired a new position in IES in the 2nd quarter valued at about $365,000. Quantbot Technologies LP acquired a new position in IES in the 2nd quarter valued at about $89,000. Finally, Invesco Ltd. boosted its holdings in IES by 43.7% in the 2nd quarter. Invesco Ltd. now owns 91,567 shares of the technology company's stock valued at $27,125,000 after purchasing an additional 27,849 shares during the last quarter. Hedge funds and other institutional investors own 86.60% of the company's stock.

Wall Street Analysts Forecast Growth

IESC has been the subject of a number of analyst reports. Loop Capital set a $458.00 target price on shares of IES in a research report on Tuesday, February 3rd. Wall Street Zen cut shares of IES from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 7th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, IES has an average rating of "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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