IES (NASDAQ:IESC) Shares Down 5.2% - Here's What Happened

Key Points

• Shares of IES Holdings fell about 5.2% to roughly $475 on Thursday, with intraday lows near $477 and volume plunging ~91% to ~18,199 shares versus its average of 202,474.
• The company missed the quarter, reporting EPS of $3.71 vs. a $3.94 consensus and revenue of $870.96M vs. $876M, while posting a 9.7% net margin and 35.62% return on equity.
• Insiders have been net sellers (CEO sold 5,000 shares and insiders sold 20,659 shares worth about $10.6M in the last 90 days), and analysts still show a consensus Buy but with an average price target of $458, below the current share price.

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report)'s stock price dropped 5.2% during trading on Thursday . The stock traded as low as $477.09 and last traded at $475.2650. Approximately 18,199 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 202,474 shares. The stock had previously closed at $501.27.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Loop Capital set a $458.00 target price on shares of IES in a report on Tuesday, February 3rd. Wall Street Zen lowered shares of IES from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 7th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of IES in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $458.00.

IES Price Performance

The business has a 50 day simple moving average of $468.43 and a 200 day simple moving average of $422.79. The company has a market cap of $9.34 billion, a price-to-earnings ratio of 27.86 and a beta of 1.68.

IES (NASDAQ:IESC - Get Free Report) last announced its earnings results on Friday, January 30th. The technology company reported $3.71 earnings per share for the quarter, missing analysts' consensus estimates of $3.94 by ($0.23). The business had revenue of $870.96 million during the quarter, compared to analyst estimates of $876.00 million. IES had a net margin of 9.70% and a return on equity of 35.62%.

Insider Buying and Selling at IES

In other IES news, CEO Matthew J. Simmes sold 5,000 shares of the business's stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $506.26, for a total value 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 approximately $47,373,279.50. The trade was a 5.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Todd M. Cleveland sold 1,425 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $500.84, for a total transaction of $713,697.00. Following the transaction, the director owned 78,089 shares in the company, valued at $39,110,094.76. The trade was a 1.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 20,659 shares of company stock worth $10,636,940. 56.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On IES

Several hedge funds and other institutional investors have recently made changes to their positions in IESC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 valued at $810,000 after acquiring an additional 223 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in IES by 6.7% during 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 worth $3,762,000 after purchasing an additional 1,435 shares during the last quarter. SG Americas Securities LLC acquired a new position in IES during the 2nd quarter valued at about $369,000. Creative Planning boosted its stake in shares of IES by 33.4% in the 2nd quarter. Creative Planning now owns 2,346 shares of the technology company's stock valued at $695,000 after purchasing an additional 588 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of IES in the 2nd quarter valued at about $205,000. 86.60% of the stock is owned by institutional investors and hedge funds.

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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