IES (NASDAQ:IESC) Chairman Sells $10,390,650.00 in Stock

IES Holdings, Inc. (NASDAQ:IESC) Chairman Jeffrey Et Al Gendell sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $692.71, for a total transaction of $10,390,650.00. Following the completion of the sale, the chairman directly owned 10,525,005 shares in the company, valued at $7,290,776,213.55. This represents a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

IES Stock Performance

IESC opened at $682.20 on Monday. The company’s 50 day simple moving average is $533.83 and its 200 day simple moving average is $468.32. IES Holdings, Inc. has a 1 year low of $235.99 and a 1 year high of $700.20. The stock has a market capitalization of $13.60 billion, a PE ratio of 36.38 and a beta of 1.81.

IES (NASDAQ:IESC) last released its earnings results on Friday, May 1st. The technology company reported $4.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.95 by $0.21. IES had a net margin of 10.40% and a return on equity of 33.97%. The business had revenue of $974.20 million for the quarter, compared to analysts’ expectations of $1.01 billion.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. First Trust Advisors LP raised its holdings in IES by 40.4% in the first quarter. First Trust Advisors LP now owns 349,163 shares of the technology company’s stock valued at $166,366,000 after buying an additional 100,425 shares during the period. Geode Capital Management LLC raised its holdings in IES by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 274,725 shares of the technology company’s stock valued at $106,887,000 after buying an additional 6,349 shares during the period. Pertento Partners LLP raised its holdings in IES by 17.1% in the fourth quarter. Pertento Partners LLP now owns 209,351 shares of the technology company’s stock valued at $81,442,000 after buying an additional 30,583 shares during the period. State Street Corp raised its holdings in IES by 1.2% in the fourth quarter. State Street Corp now owns 205,905 shares of the technology company’s stock valued at $80,101,000 after buying an additional 2,517 shares during the period. Finally, Morgan Stanley raised its holdings in IES by 7.7% in the fourth quarter. Morgan Stanley now owns 171,488 shares of the technology company’s stock valued at $66,713,000 after buying an additional 12,232 shares during the period. Hedge funds and other institutional investors own 86.60% of the company’s stock.

Analyst Upgrades and Downgrades

IESC has been the topic of several research analyst reports. Loop Capital set a $458.00 target price on shares of IES in a research report on Tuesday, February 3rd. Wall Street Zen cut shares of IES from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Finally, Freedom Capital cut shares of IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, IES has a consensus 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.