IES Shares Set to Split on Monday, August 24th (NASDAQ:IESC)

Key Points

• IES Holdings announced a 2-for-1 stock split, with shares distributed after the market closes on Friday, August 21, and split-adjusted trading beginning Monday, August 24.
• IES reported quarterly results above expectations, posting $6.70 in EPS versus the $4.83 consensus and revenue of $1.24 billion compared with estimates of $1.08 billion.
• Analyst sentiment was mixed but leaned positive, with the stock carrying a “Moderate Buy” consensus rating; meanwhile, insiders sold approximately $99.7 million of shares over the past three months.

IES Holdings, Inc. (NASDAQ:IESC - Free Report) shares are going to split before the market opens 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 market closes on Friday, August 21st.

IES Trading Down 0.7%

IESC opened at $762.71 on Friday. The business's 50 day moving average is $682.32 and its 200-day moving average is $582.10. The stock has a market cap of $15.19 billion, a PE ratio of 33.88 and a beta of 1.79. IES has a twelve month low of $309.51 and a twelve month high of $811.85.

IES (NASDAQ:IESC - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The technology company reported $6.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.83 by $1.87. IES had a return on equity of 35.70% and a net margin of 11.40%.The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.08 billion.

Analysts Set New Price Targets

IESC has been the subject of a number of analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of IES in a research report on Thursday, June 18th. Freedom Capital lowered IES from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 5th. Finally, Wall Street Zen upgraded shares of IES from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $458.00.

Insider Activity at IES

In other news, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of IES stock in a transaction on Friday, June 12th. The stock was sold at an average price of $756.47, for a total transaction of $35,342,278.40. Following the transaction, the chairman directly owned 10,406,559 shares in the company, valued at approximately $7,872,249,686.73. This trade represents a 0.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Todd M. Cleveland sold 5,000 shares of IES stock in a transaction on Friday, June 12th. The shares were sold at an average price of $761.89, for a total value of $3,809,450.00. Following the transaction, the director owned 60,874 shares in the company, valued at approximately $46,379,291.86. This trade represents a 7.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 138,446 shares of company stock worth $99,699,230. 56.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IESC. BlackRock Inc. bought a new stake in IES in the second quarter worth about $649,086,000. First Trust Advisors LP lifted its holdings in IES by 40.4% in the 1st quarter. First Trust Advisors LP now owns 349,163 shares of the technology company's stock valued at $166,366,000 after acquiring an additional 100,425 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of IES by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 274,725 shares of the technology company's stock valued at $106,887,000 after purchasing an additional 6,349 shares in the last quarter. Pertento Partners LLP boosted its position in shares of IES by 17.1% during the 4th quarter. Pertento Partners LLP now owns 209,351 shares of the technology company's stock valued at $81,442,000 after purchasing an additional 30,583 shares in the last quarter. Finally, State Street Corp grew its stake in shares of IES by 1.2% in the 4th quarter. State Street Corp now owns 205,905 shares of the technology company's stock worth $80,101,000 after purchasing an additional 2,517 shares during the last quarter. Institutional investors own 86.60% of the company's stock.

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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