IES (NASDAQ:IESC) Trading 12.3% Higher - Here's What Happened

Key Points

• Shares of IES Holdings surged 12.3% on Thursday to about $642.50, trading above the Street's average target price of $458.
• IES slightly missed quarterly estimates, reporting EPS of $3.71 vs. $3.94 expected and revenue of $870.96M vs. $876M, while posting a 35.62% return on equity and a 9.70% net margin.
• Insiders sold roughly 20,659 shares (~$10.6M) over the last quarter but still own about 56.43% of the company, and institutional ownership is reported at 86.60%.

Shares of IES Holdings, Inc. (NASDAQ:IESC - Get Free Report) traded up 12.3% on Thursday . The company traded as high as $640.97 and last traded at $642.5040. 178,184 shares traded hands during trading, a decline of 14% from the average session volume of 206,050 shares. The stock had previously closed at $572.01.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Loop Capital set a $458.00 price target on IES in a report on Tuesday, February 3rd. Wall Street Zen downgraded IES from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 7th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $458.00.

IES Stock Up 12.6%

The business has a 50-day simple moving average of $499.81 and a two-hundred day simple moving average of $448.15. The company has a market cap of $12.84 billion, a price-to-earnings ratio of 38.32 and a beta of 1.67.

IES (NASDAQ:IESC - Get Free Report) last announced its quarterly 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). IES had a return on equity of 35.62% and a net margin of 9.70%.The company had revenue of $870.96 million during the quarter, compared to analyst estimates of $876.00 million.

Insiders Place Their Bets

In related news, Director Todd M. Cleveland sold 1,425 shares of the business's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $500.84, for a total transaction of $713,697.00. Following the completion of the transaction, the director owned 78,089 shares of the company's stock, valued at approximately $39,110,094.76. The trade was a 1.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Jeffrey L. Et Al Gendell sold 320 shares of the business's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $520.43, for a total value of $166,537.60. Following the transaction, the chairman owned 10,587,161 shares in the company, valued at $5,509,876,199.23. This represents a 0.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 20,659 shares of company stock valued at $10,636,940 over the last quarter. Insiders own 56.43% of the company's stock.

Hedge Funds Weigh In On IES

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

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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