IES (NASDAQ:IESC) Shares Down 5.8% – Here’s Why

IES Holdings, Inc. (NASDAQ:IESC)’s share price was down 5.8% on Tuesday . The company traded as low as $390.00 and last traded at $400.0550. Approximately 25,696 shares were traded during trading, a decline of 71% from the average daily volume of 90,095 shares. The stock had previously closed at $424.86.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of IES in a report on Monday, December 22nd. Wall Street Zen upgraded IES from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 30th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, IES has a consensus rating of “Buy”.

IES Price Performance

The firm has a fifty day moving average of $406.61 and a 200 day moving average of $369.38. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 27.19 and a beta of 1.73.

IES (NASDAQ:IESC) last announced its earnings results on Friday, November 21st. The technology company reported $3.77 earnings per share (EPS) for the quarter. IES had a net margin of 8.99% and a return on equity of 38.61%. The company had revenue of $897.80 million for the quarter.

Insiders Place Their Bets

In other IES news, insider Matthew Michael Allen sold 700 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $457.95, for a total transaction of $320,565.00. Following the transaction, the insider directly owned 1,098 shares of the company’s stock, valued at approximately $502,829.10. This trade represents a 38.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Mary K. Newman sold 2,000 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $477.86, for a total value of $955,720.00. Following the completion of the transaction, the chief accounting officer owned 21,843 shares of the company’s stock, valued at $10,437,895.98. The trade was a 8.39% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 217,661 shares of company stock worth $96,387,385. Corporate insiders own 56.76% of the company’s stock.

Hedge Funds Weigh In On IES

A number of hedge funds have recently bought and sold shares of the company. Orion Porfolio Solutions LLC raised its holdings in IES by 85.0% during the second quarter. Orion Porfolio Solutions LLC now owns 5,649 shares of the technology company’s stock worth $1,673,000 after purchasing an additional 2,596 shares in the last quarter. Atria Investments Inc acquired a new position in IES in the second quarter worth approximately $291,000. Arrowstreet Capital Limited Partnership lifted its position in shares of 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 during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in IES in the 2nd quarter valued at $243,000. Finally, Geode Capital Management LLC boosted its position in shares of IES by 4.8% in the second quarter. Geode Capital Management LLC now owns 263,993 shares of the technology company’s stock valued at $78,210,000 after acquiring an additional 12,026 shares during the period. 86.60% of the stock is currently owned by institutional investors and hedge funds.

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.