IES (NASDAQ:IESC) Chairman Sells $21,396,738.30 in Stock

IES Holdings, Inc. (NASDAQ:IESC) Chairman Jeffrey Et Al Gendell sold 30,310 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $705.93, for a total transaction of $21,396,738.30. Following the transaction, the chairman directly owned 10,453,279 shares of the company’s stock, valued at approximately $7,379,283,244.47. This trade represents a 0.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

IES Stock Up 0.7%

IES stock traded up $4.76 during midday trading on Thursday, hitting $698.96. The company’s stock had a trading volume of 237,664 shares, compared to its average volume of 208,931. The stock’s 50-day moving average price is $569.43 and its 200-day moving average price is $483.18. IES Holdings, Inc. has a 12 month low of $246.43 and a 12 month high of $713.82. The company has a market capitalization of $13.92 billion, a PE ratio of 37.28 and a beta of 1.81.

IES (NASDAQ:IESC) last issued its quarterly earnings results on Friday, May 1st. The technology company reported $4.16 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 firm had revenue of $974.20 million for the quarter, compared to analysts’ expectations of $1.01 billion.

Analyst Upgrades and Downgrades

IESC has been the subject of several recent research reports. Loop Capital set a $458.00 price target on IES in a research note on Tuesday, February 3rd. Freedom Capital cut IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen lowered IES from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $458.00.

Hedge Funds Weigh In On IES

Hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its holdings in IES by 121.4% in the first quarter. Parallel Advisors LLC now owns 62 shares of the technology company’s stock valued at $30,000 after acquiring an additional 34 shares during the last quarter. International Assets Investment Management LLC bought a new position in IES in the fourth quarter valued at about $38,000. Steward Partners Investment Advisory LLC boosted its holdings in IES by 366.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company’s stock valued at $38,000 after acquiring an additional 77 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in IES by 157.9% in the third quarter. SBI Securities Co. Ltd. now owns 98 shares of the technology company’s stock valued at $39,000 after acquiring an additional 60 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in IES by 59.0% in the fourth quarter. Global Retirement Partners LLC now owns 124 shares of the technology company’s stock valued at $48,000 after acquiring an additional 46 shares during the last quarter. Institutional investors own 86.60% of the company’s stock.

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.