IES (NASDAQ:IESC) Stock Price Down 10.4% – Time to Sell?

Shares of IES Holdings, Inc. (NASDAQ:IESC) were down 10.4% during trading on Tuesday . The stock traded as low as $597.03 and last traded at $600.81. 60,479 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 228,555 shares. The stock had previously closed at $670.79.

Wall Street Analyst Weigh In

IESC has been the subject of a number of research analyst reports. Freedom Capital downgraded shares of IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Weiss Ratings reissued a “buy (b)” rating on shares of IES in a research note on Thursday, June 18th. Finally, Wall Street Zen cut shares of IES from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $458.00.

IES Stock Performance

The stock has a fifty day simple moving average of $687.70 and a two-hundred day simple moving average of $545.67. The stock has a market cap of $12.34 billion, a PE ratio of 33.03 and a beta of 1.78.

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.

Insider Buying and Selling

In other IES news, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of IES stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $756.47, for a total value of $35,342,278.40. Following the transaction, the chairman owned 10,406,559 shares in the company, valued at approximately $7,872,249,686.73. The trade was a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Todd M. Cleveland sold 5,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $761.89, for a total value of $3,809,450.00. Following the completion of the transaction, the director directly owned 60,874 shares in the company, valued at $46,379,291.86. This represents a 7.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 208,102 shares of company stock worth $146,518,202. Corporate insiders own 56.43% of the company’s stock.

Hedge Funds Weigh In On IES

A number of hedge funds have recently modified their holdings of IESC. Optiver Holding B.V. lifted its holdings in shares of IES by 62.5% during the first quarter. Optiver Holding B.V. now owns 52 shares of the technology company’s stock valued at $25,000 after purchasing an additional 20 shares during the last quarter. Blue Trust Inc. increased its stake in IES by 7.5% in the 4th quarter. Blue Trust Inc. now owns 400 shares of the technology company’s stock worth $156,000 after purchasing an additional 28 shares in the last quarter. GAMMA Investing LLC raised its holdings in IES by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 244 shares of the technology company’s stock worth $95,000 after buying an additional 31 shares during the period. Parallel Advisors LLC raised its holdings in IES by 121.4% during the 1st quarter. Parallel Advisors LLC now owns 62 shares of the technology company’s stock worth $30,000 after buying an additional 34 shares during the period. Finally, KPP Advisory Services LLC lifted its stake in IES by 5.3% during the first quarter. KPP Advisory Services LLC now owns 699 shares of the technology company’s stock valued at $333,000 after buying an additional 35 shares in the last quarter. 86.60% of the stock is currently owned by institutional investors and hedge funds.

About IES

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.