IES (NASDAQ:IESC) Chairman Sells $6,590,473.91 in Stock

Key Points

• IES Holdings Chairman Jeffrey Et Al Gendell sold 17,363 shares at an average price of $379.57, totaling approximately $6.59 million, decreasing his ownership by 0.16%.
• IES reported quarterly earnings of $3.95 per share, surpassing analysts' expectations of $3.55, with revenues reaching $890.20 million.
• Wall Street Zen upgraded IES from a "buy" rating to a "strong-buy" rating, indicating increased confidence in the company's future performance.

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report) Chairman Jeffrey L. Et Al Gendell sold 17,363 shares of the company's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $379.57, for a total value of $6,590,473.91. Following the sale, the chairman owned 10,783,665 shares in the company, valued at $4,093,155,724.05. The trade was a 0.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

IES Stock Performance

Shares of IESC traded down $6.04 during midday trading on Tuesday, reaching $363.71. The stock had a trading volume of 25,179 shares, compared to its average volume of 180,270. IES Holdings, Inc. has a one year low of $146.51 and a one year high of $388.70. The firm has a 50 day simple moving average of $339.52 and a 200-day simple moving average of $264.61. The company has a current ratio of 1.85, a quick ratio of 1.65 and a debt-to-equity ratio of 0.03. The firm has a market cap of $7.22 billion, a PE ratio of 27.78 and a beta of 1.64.

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

Institutional Investors Weigh In On IES

A number of hedge funds and other institutional investors have recently bought and sold shares of IESC. Opal Wealth Advisors LLC bought a new position in shares of IES during the second quarter valued at $25,000. Nisa Investment Advisors LLC raised its stake in shares of IES by 841.7% during the second quarter. Nisa Investment Advisors LLC now owns 113 shares of the technology company's stock valued at $33,000 after acquiring an additional 101 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of IES during the first quarter valued at $36,000. Elevation Point Wealth Partners LLC bought a new stake in IES in the second quarter valued at approximately $47,000. Finally, Blue Trust Inc. boosted its holdings in IES by 82.7% in the second quarter. Blue Trust Inc. now owns 243 shares of the technology company's stock valued at $72,000 after acquiring an additional 110 shares during the last quarter. Institutional investors own 86.60% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of IES from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 16th.

About IES

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.