IES (NASDAQ:IESC) Shares Down 7.2% - What's Next?

Key Points

• IES shares fell 7.2% to about $691, with trading volume down 86% from its average. Despite the decline, the stock remains well above its 50-day and 200-day moving averages and has a $14.3 billion market capitalization.
• The company reported stronger-than-expected quarterly results, delivering $6.70 in earnings per share versus the $4.83 consensus estimate and revenue of $1.24 billion compared with expectations of $1.08 billion.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating, though the $458 average price target is below the current share price. IES also announced a 2-for-1 stock split effective August 24, while insiders sold roughly $146.5 million of shares over the past three months.

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report) fell 7.2% during trading on Monday . The company traded as low as $682.00 and last traded at $691.0260. Approximately 32,076 shares changed hands during trading, a decline of 86% from the average daily volume of 228,446 shares. The stock had previously closed at $744.54.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IESC. Wall Street Zen raised shares of IES from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Weiss Ratings reiterated a "buy (b)" rating on shares of IES in a research note on Thursday, June 18th. Finally, Freedom Capital lowered IES from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $458.00.

IES Price Performance

The stock has a market cap of $14.30 billion, a price-to-earnings ratio of 31.90 and a beta of 1.78. The business's fifty day simple moving average is $674.87 and its 200 day simple moving average is $571.73.

Shares of IES are going to split on Monday, August 24th. The 2-1 split was announced on Friday, July 31st. The newly created shares will be distributed to shareholders after the closing bell on Friday, August 21st.

IES (NASDAQ:IESC - Get Free Report) last issued its earnings results on Friday, July 31st. The technology company reported $6.70 earnings per share for the quarter, topping analysts' consensus estimates of $4.83 by $1.87. IES had a net margin of 11.40% and a return on equity of 38.05%. The company had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.08 billion.

Insider Buying and Selling at IES

In other news, Director Todd M. Cleveland sold 11,578 shares of the company's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $663.52, for a total transaction of $7,682,234.56. Following the completion of the transaction, the director directly owned 65,817 shares of the company's stock, valued at approximately $43,670,895.84. This represents a 14.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Tracy Mclauchlin sold 3,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $662.61, for a total value of $1,987,830.00. Following the sale, the chief financial officer owned 62,525 shares in the company, valued at $41,429,690.25. The trade was a 4.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 208,102 shares of company stock worth $146,518,202. Insiders own 56.43% of the company's stock.

Institutional Trading of IES

Several large investors have recently added to or reduced their stakes in IESC. Optiver Holding B.V. lifted its position in IES by 62.5% in the first quarter. Optiver Holding B.V. now owns 52 shares of the technology company's stock worth $25,000 after purchasing an additional 20 shares during the period. Parallel Advisors LLC lifted its holdings in shares of IES by 121.4% in the first quarter. Parallel Advisors LLC now owns 62 shares of the technology company's stock valued at $30,000 after buying an additional 34 shares during the period. International Assets Investment Management LLC bought a new position in IES during the fourth quarter valued at about $38,000. Steward Partners Investment Advisory LLC boosted its stake in IES by 366.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company's stock valued at $38,000 after buying an additional 77 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in IES by 59.0% during the fourth quarter. Global Retirement Partners LLC now owns 124 shares of the technology company's stock worth $48,000 after acquiring an additional 46 shares during the period. 86.60% of the stock is currently owned by institutional investors and hedge funds.

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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