IES (NASDAQ:IESC) Shares Down 9.8% After Insider Selling

IES Holdings, Inc. (NASDAQ:IESC)’s stock price fell 9.8% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $437.60 and last traded at $440.00. 100,303 shares were traded during mid-day trading, a decline of 51% from the average session volume of 204,749 shares. The stock had previously closed at $487.77.

Specifically, Director Todd M. Cleveland sold 1,425 shares of IES stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $500.84, for a total value of $713,697.00. Following the sale, the director owned 78,089 shares of the company’s stock, valued at approximately $39,110,094.76. The trade was a 1.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Todd M. Cleveland sold 875 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $501.13, for a total transaction of $438,488.75. Following the sale, the director owned 79,514 shares of the company’s stock, valued at approximately $39,846,850.82. The trade was a 1.09% decrease in their position. The disclosure for this sale is available in the SEC filing. In related news, Director Todd M. Cleveland sold 200 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $513.54, for a total value of $102,708.00. Following the transaction, the director owned 80,617 shares in the company, valued at approximately $41,400,054.18. This represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analysts Set New Price Targets

A number of research analysts have recently commented on IESC shares. Loop Capital set a $458.00 price target on IES in a research report on Tuesday, February 3rd. Weiss Ratings restated a “buy (b)” rating on shares of IES in a research note on Monday, December 22nd. Finally, Wall Street Zen lowered shares of IES from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 7th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, IES presently has an average rating of “Buy” and a consensus price target of $458.00.

IES Price Performance

The firm’s 50 day moving average is $453.84 and its 200 day moving average is $411.60. The company has a market cap of $8.59 billion, a PE ratio of 25.64 and a beta of 1.68.

IES (NASDAQ:IESC) last released its quarterly earnings results on Friday, January 30th. The technology company reported $3.71 EPS for the quarter, missing analysts’ consensus estimates of $3.94 by ($0.23). IES had a net margin of 9.70% and a return on equity of 35.62%. The firm had revenue of $870.96 million for the quarter, compared to analysts’ expectations of $876.00 million.

Hedge Funds Weigh In On IES

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP boosted its stake in shares of IES by 982.7% during the third quarter. First Trust Advisors LP now owns 323,893 shares of the technology company’s stock valued at $128,796,000 after purchasing an additional 293,977 shares during the period. Geode Capital Management LLC raised its stake in shares of IES by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 274,725 shares of the technology company’s stock valued at $106,887,000 after acquiring an additional 6,349 shares during the last quarter. Pertento Partners LLP boosted its holdings in shares of IES by 17.1% during the fourth quarter. Pertento Partners LLP now owns 209,351 shares of the technology company’s stock worth $81,442,000 after purchasing an additional 30,583 shares during the period. State Street Corp boosted its holdings in shares of IES by 1.2% during the fourth quarter. State Street Corp now owns 205,905 shares of the technology company’s stock worth $80,101,000 after purchasing an additional 2,517 shares during the period. Finally, Morgan Stanley grew its stake in shares of IES by 7.7% in the fourth quarter. Morgan Stanley now owns 171,488 shares of the technology company’s stock worth $66,713,000 after purchasing an additional 12,232 shares during the last quarter. 86.60% of the stock is currently owned by institutional investors.

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.