Insider Selling: IES (NASDAQ:IESC) Director Sells 11,578 Shares of Stock

Key Points

• Director Todd Cleveland sold 11,578 shares of IES Holdings on Friday, May 8, at an average price of $663.52, for a total of about $7.68 million. After the sale, he still held 65,817 shares valued at roughly $43.67 million.
• IES stock was little changed, rising 0.2% to $666.70, near its 52-week high of $688.51. The company’s market cap is about $13.29 billion.
• IES recently beat earnings expectations, reporting $4.16 EPS versus the $3.95 consensus estimate, though revenue of $974.2 million came in below forecasts. Analyst sentiment remains mixed, with a consensus rating of “Moderate Buy” and a $458 target price.

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report) Director Todd Cleveland sold 11,578 shares of the firm's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $663.52, for a total transaction of $7,682,234.56. Following the completion of the sale, the director owned 65,817 shares in the company, valued at $43,670,895.84. This represents a 14.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

IES Stock Up 0.2%

Shares of NASDAQ IESC traded up $1.07 during trading hours on Friday, hitting $666.70. 164,427 shares of the stock were exchanged, compared to its average volume of 211,634. IES Holdings, Inc. has a 12 month low of $235.99 and a 12 month high of $688.51. The firm has a fifty day moving average price of $511.80 and a 200-day moving average price of $456.24. The company has a market cap of $13.29 billion, a PE ratio of 35.56 and a beta of 1.81.

IES (NASDAQ:IESC - Get Free Report) last announced its earnings results on Friday, May 1st. The technology company reported $4.16 earnings per share for the quarter, beating the consensus estimate of $3.95 by $0.21. The company had revenue of $974.20 million during the quarter, compared to the consensus estimate of $1.01 billion. IES had a net margin of 10.40% and a return on equity of 33.97%.

Institutional Trading of IES

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IESC. First Trust Advisors LP increased its holdings in shares of IES by 982.7% in the third quarter. First Trust Advisors LP now owns 323,893 shares of the technology company's stock valued at $128,796,000 after purchasing an additional 293,977 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in IES by 324,337.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 120,042 shares of the technology company's stock valued at $46,699,000 after buying an additional 120,005 shares during the last quarter. Norges Bank acquired a new position in IES in the 4th quarter worth approximately $40,578,000. SG Capital Management LLC acquired a new position in IES in the 3rd quarter worth approximately $38,609,000. Finally, Parsifal Capital Management LP purchased a new position in IES during the 3rd quarter worth approximately $25,768,000. Institutional investors and hedge funds own 86.60% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on IESC. Freedom Capital downgraded IES from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Wall Street Zen upgraded IES from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 2nd. Finally, Loop Capital set a $458.00 price target on IES in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $458.00.

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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