IES (NASDAQ:IESC) Trading Down 3.8% - Here's What Happened

Key Points

• IES Holdings, Inc. (NASDAQ:IESC) saw its share price drop 3.8% to $336.94 during recent trading, with a notable decline in trading volume.
• Analysts at Wall Street Zen have downgraded IES from a "strong-buy" to a "buy" rating following the company's recent earnings report, where it surpassed expectations with earnings of $3.95 per share.
• Insider transactions revealed that CEO Jeffrey L. Et Al Gendell sold 5,764 shares, reducing his ownership slightly as corporate insiders now hold 56.76% of the company's stock.

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report) shares traded down 3.8% on Monday . The stock traded as low as $336.28 and last traded at $336.94. 92,862 shares were traded during trading, a decline of 51% from the average session volume of 189,883 shares. The stock had previously closed at $350.41.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of IES from a "strong-buy" rating to a "buy" rating in a research report on Sunday.

IES Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.50 and a current ratio of 1.85. The firm has a market cap of $6.50 billion, a P/E ratio of 25.08 and a beta of 1.67. The business's 50-day simple moving average is $298.48 and its 200 day simple moving average is $239.16.

IES (NASDAQ:IESC - Get Free Report) last posted its earnings results on Friday, August 1st. The technology company reported $3.95 EPS for the quarter, topping analysts' consensus estimates of $3.55 by $0.40. IES had a net margin of 8.15% and a return on equity of 37.23%. The business had revenue of $890.20 million during the quarter, compared to the consensus estimate of $833.00 million.

Insider Buying and Selling at IES

In other news, CEO Jeffrey L. Et Al Gendell sold 27,144 shares of IES stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $275.92, for a total transaction of $7,489,572.48. Following the transaction, the chief executive officer owned 10,930,040 shares in the company, valued at $3,015,816,636.80. This trade represents a 0.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 39,630 shares of company stock worth $10,915,095. Company insiders own 56.76% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IESC. Vanguard Group Inc. boosted its stake in shares of IES by 38.9% during the 4th quarter. Vanguard Group Inc. now owns 753,331 shares of the technology company's stock worth $151,389,000 after acquiring an additional 210,925 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of IES during the 1st quarter worth $16,853,000. United Capital Management of KS Inc. purchased a new position in shares of IES during the 2nd quarter valued at $13,589,000. Invesco Ltd. lifted its stake in shares of IES by 27.6% during the 4th quarter. Invesco Ltd. now owns 200,799 shares of the technology company's stock valued at $40,353,000 after buying an additional 43,449 shares in the last quarter. Finally, Man Group plc purchased a new position in shares of IES during the 4th quarter valued at $8,497,000. Hedge funds and other institutional investors own 86.60% of the company's stock.

IES Company Profile

IES Holdings, Inc engages in the design and installation of integrated electrical and technology systems, and provides infrastructure products and services in the United States. The Communications segment designs, installs, and maintains network infrastructure within data centers for co-location and managed hosting customers; corporate, educational, financial, hospitality, and healthcare buildings; e-commerce distribution centers; and high-tech manufacturing facilities.