IES (NASDAQ:IESC) Shares Down 6.5% - Should You Sell?

Key Points

• Shares tumbled 6.5% on Friday to about $602.01 from a prior close of $644.08, with trading volume (~67,411 shares) down roughly 67% versus the daily average.
• Analysts maintain an average "Buy" rating but the consensus price target is only $458, notably below the current share price.
• IES reported a quarterly EPS beat of $4.16 vs. $3.95, while insiders have sold about 20,659 shares (~$10.6M) over the past three months despite insiders owning a majority stake.

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report) shares dropped 6.5% during trading on Friday . The company traded as low as $598.20 and last traded at $602.01. Approximately 67,411 shares changed hands during trading, a decline of 67% from the average daily volume of 205,721 shares. The stock had previously closed at $644.08.

Wall Street Analysts Forecast Growth

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

IES Price Performance

The business's 50-day moving average price is $502.55 and its two-hundred day moving average price is $449.51. The company has a market capitalization of $13.14 billion, a P/E ratio of 38.94 and a beta of 1.67.

IES (NASDAQ:IESC - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The technology company reported $4.16 earnings per share for the quarter, topping analysts' consensus estimates of $3.95 by $0.21. IES had a net margin of 9.70% and a return on equity of 35.62%.

Insider Transactions at IES

In other news, Director Todd M. Cleveland sold 3,119 shares of IES stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $511.81, for a total transaction of $1,596,335.39. Following the transaction, the director directly owned 82,517 shares of the company's stock, valued at $42,233,025.77. This trade represents a 3.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Jeffrey L. Et Al Gendell sold 5,048 shares of IES stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $529.50, for a total transaction of $2,672,916.00. Following the transaction, the chairman directly owned 10,590,272 shares in the company, valued at approximately $5,607,549,024. This represents a 0.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 20,659 shares of company stock valued at $10,636,940 over the last three months. 56.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On IES

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC boosted its stake in IES by 1,014.3% in the 3rd quarter. Global Retirement Partners LLC now owns 78 shares of the technology company's stock worth $31,000 after purchasing an additional 71 shares during the period. International Assets Investment Management LLC acquired a new position in IES in the 4th quarter worth $38,000. Steward Partners Investment Advisory LLC boosted its stake in IES by 366.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company's stock worth $38,000 after purchasing an additional 77 shares during the period. SBI Securities Co. Ltd. boosted its stake in IES by 157.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 98 shares of the technology company's stock worth $39,000 after purchasing an additional 60 shares during the period. Finally, Spire Wealth Management acquired a new position in IES in the 3rd quarter worth $40,000. 86.60% of the stock is owned by institutional investors.

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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