Insider Selling: IES (NASDAQ:IESC) Chairman Sells 6,811 Shares of Stock

Key Points

• Chairman Jeffrey Et Al Gendell sold 6,811 shares of IES Holdings stock for approximately $2.59 million, reducing his ownership by 0.06% to 10,769,717 shares.
• IES Holdings reported quarterly earnings of $3.95 per share, exceeding analyst expectations and generating $890.20 million in revenue, both figures representing strong performance.
• Wall Street analysts have upgraded IES from a "buy" to a "strong-buy" rating, reflecting increasing confidence in the company's prospects.

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report) Chairman Jeffrey L. Et Al Gendell sold 6,811 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $380.74, for a total value of $2,593,220.14. Following the completion of the sale, the chairman directly owned 10,769,717 shares in the company, valued at approximately $4,100,462,050.58. The trade was a 0.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

IES Stock Up 0.5%

IESC stock traded up $1.92 during midday trading on Friday, hitting $379.42. The stock had a trading volume of 215,680 shares, compared to its average volume of 180,519. The firm has a market cap of $7.53 billion, a price-to-earnings ratio of 28.99 and a beta of 1.64. The business has a 50-day moving average of $343.39 and a two-hundred day moving average of $267.41. IES Holdings, Inc. has a 52-week low of $146.51 and a 52-week high of $388.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.85 and a quick ratio of 1.65.

IES (NASDAQ:IESC - Get Free Report) last issued its quarterly 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. The company had revenue of $890.20 million for the quarter, compared to analysts' expectations of $833.00 million. IES had a return on equity of 37.23% and a net margin of 8.15%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of IES

A number of hedge funds and other institutional investors have recently bought and sold shares of IESC. Pertento Partners LLP purchased a new stake in IES in the second quarter worth about $46,916,000. Lord Abbett & CO. LLC purchased a new stake in IES in the first quarter worth about $16,853,000. United Capital Management of KS Inc. purchased a new stake in IES in the second quarter worth about $13,589,000. GAMMA Investing LLC increased its position in IES by 17,886.4% in the first quarter. GAMMA Investing LLC now owns 42,268 shares of the technology company's stock worth $69,790,000 after buying an additional 42,033 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in IES by 50.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 110,313 shares of the technology company's stock worth $32,678,000 after buying an additional 36,845 shares in the last quarter. Hedge funds and other institutional investors own 86.60% of the company's stock.

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.