IES (NASDAQ:IESC) Stock Price Down 10.1% - Here's What Happened

Key Points

• IES Holdings shares fell 10.1% to $542.38, with trading volume down 62% from the average session. The stock’s market capitalization was approximately $10.77 billion.
• Analyst sentiment remains positive but mixed: IES has a “Moderate Buy” consensus rating, based on one Buy and one Hold rating, with an average price target of $458.
• The company exceeded quarterly EPS expectations, reporting $4.16 versus the $3.95 consensus, though revenue of $974.2 million fell short of the $1.01 billion estimate. Insiders have sold more than 208,000 shares worth about $146.5 million over the past three months.

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report)'s stock price traded down 10.1% on Tuesday . The stock traded as low as $534.47 and last traded at $542.38. Approximately 85,671 shares were traded during trading, a decline of 62% from the average session volume of 226,976 shares. The stock had previously closed at $603.23.

Wall Street Analyst Weigh In

A number of research analysts recently commented on IESC shares. Weiss Ratings restated a "buy (b)" rating on shares of IES in a research note on Thursday, June 18th. Freedom Capital cut shares of IES from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 5th. Finally, Wall Street Zen downgraded shares of IES from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 10th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $458.00.

IES Stock Performance

The company's 50 day moving average price is $679.81 and its 200 day moving average price is $566.22. The company has a market cap of $10.77 billion, a price-to-earnings ratio of 28.83 and a beta of 1.78.

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 (EPS) for the quarter, beating the consensus estimate of $3.95 by $0.21. The firm had revenue of $974.20 million during the quarter, compared to the consensus estimate of $1.01 billion. IES had a net margin of 10.40% and a return on equity of 33.97%.

Insider Activity

In related news, CEO Matthew J. Simmes sold 7,000 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $658.24, for a total transaction of $4,607,680.00. Following the completion of the sale, the chief executive officer directly owned 86,575 shares of the company's stock, valued at $56,987,128. This trade represents a 7.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of IES stock in a transaction on Friday, June 12th. The shares were sold at an average price of $756.47, for a total value of $35,342,278.40. Following the completion of the transaction, the chairman owned 10,406,559 shares of the company's stock, valued at approximately $7,872,249,686.73. The trade was a 0.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 208,102 shares of company stock worth $146,518,202. 56.43% of the stock is currently owned by insiders.

Institutional Trading of IES

A number of hedge funds and other institutional investors have recently made changes to their positions in IESC. Optiver Holding B.V. grew its holdings in IES by 62.5% during the 1st quarter. Optiver Holding B.V. now owns 52 shares of the technology company's stock worth $25,000 after acquiring an additional 20 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of IES by 7.5% in the fourth quarter. Blue Trust Inc. now owns 400 shares of the technology company's stock valued at $156,000 after purchasing an additional 28 shares in the last quarter. GAMMA Investing LLC raised its position in IES by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 244 shares of the technology company's stock worth $95,000 after purchasing an additional 31 shares during the last quarter. Parallel Advisors LLC lifted its holdings in IES by 121.4% during the 1st quarter. Parallel Advisors LLC now owns 62 shares of the technology company's stock worth $30,000 after buying an additional 34 shares in the last quarter. Finally, KPP Advisory Services LLC boosted its position in IES by 5.3% in the 1st quarter. KPP Advisory Services LLC now owns 699 shares of the technology company's stock valued at $333,000 after buying an additional 35 shares during the last quarter. 86.60% of the stock is currently 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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