Jeffrey L. Et Al Gendell Sells 17,363 Shares of IES (NASDAQ:IESC) 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 business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $379.57, for a total value of $6,590,473.91. Following the completion of the transaction, the chairman owned 10,783,665 shares of the company's stock, valued at $4,093,155,724.05. This trade represents a 0.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

IES Trading Down 2.5%

Shares of IESC stock traded down $9.17 during mid-day trading on Wednesday, hitting $357.71. 130,937 shares of the company's stock were exchanged, compared to its average volume of 134,332. The stock has a market cap of $7.10 billion, a price-to-earnings ratio of 27.33 and a beta of 1.64. The company has a quick ratio of 1.65, a current ratio of 1.85 and a debt-to-equity ratio of 0.03. IES Holdings, Inc. has a fifty-two week low of $146.51 and a fifty-two week high of $388.70. The stock has a 50-day simple moving average of $342.05 and a two-hundred day simple moving average of $265.96.

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

Institutional Trading of IES

Hedge funds and other institutional investors have recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in IES during the second quarter worth $25,000. Nisa Investment Advisors LLC increased its position in IES by 841.7% in the 2nd 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 period. Catalyst Capital Advisors LLC bought a new stake in shares of IES during the first quarter valued at about $36,000. Elevation Point Wealth Partners LLC bought a new stake in IES during the second quarter worth approximately $47,000. Finally, Blue Trust Inc. lifted its holdings in shares of 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 buying an additional 110 shares during the period. 86.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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.