IES Shares Set to Split on Monday, August 24th (NASDAQ:IESC)

Shares of IES Holdings, Inc. (NASDAQ:IESC) are scheduled to split on the morning of Monday, August 24th. The 2-1 split was announced on Friday, July 31st. The newly minted shares will be payable to shareholders after the market closes on Friday, August 21st.

IES Stock Performance

Shares of IES stock opened at $756.18 on Friday. The firm has a market cap of $15.06 billion, a PE ratio of 33.59 and a beta of 1.79. The firm’s 50-day simple moving average is $351.04 and its 200-day simple moving average is $298.88. IES has a 1 year low of $309.51 and a 1 year high of $816.51.

IES (NASDAQ:IESC) last issued its quarterly earnings results on Friday, July 31st. The technology company reported $3.35 EPS for the quarter, topping the consensus estimate of $2.42 by $0.93. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.08 billion. IES had a net margin of 11.40% and a return on equity of 35.70%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IESC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IES in a report on Thursday, June 18th. Freedom Capital downgraded IES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, Wall Street Zen upgraded IES from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, IES has a consensus rating of “Moderate Buy” and a consensus price target of $229.00.

Insider Transactions at IES

In related news, Chairman Jeffrey L. Et Al Gendell sold 93,440 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $378.24, for a total transaction of $35,342,278.40. Following the completion of the sale, the chairman owned 20,813,118 shares of the company’s stock, valued at $7,872,249,686.73. This represents a 0.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Todd M. Cleveland sold 10,000 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $380.94, for a total transaction of $3,809,450.00. Following the sale, the director owned 121,748 shares in the company, valued at approximately $46,379,291.86. This trade represents a 7.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 168,170 shares of company stock valued at $61,991,652. Insiders own 56.43% of the company’s stock.

Institutional Trading of IES

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of IES in the 2nd quarter worth approximately $649,086,000. First Trust Advisors LP grew its stake in IES by 40.4% during the 1st quarter. First Trust Advisors LP now owns 349,163 shares of the technology company’s stock worth $166,366,000 after buying an additional 100,425 shares during the last quarter. Geode Capital Management LLC grew its stake in IES by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 274,725 shares of the technology company’s stock worth $106,887,000 after buying an additional 6,349 shares during the last quarter. Pertento Partners LLP increased its position in IES by 17.1% in the fourth quarter. Pertento Partners LLP now owns 209,351 shares of the technology company’s stock worth $81,442,000 after buying an additional 30,583 shares during the period. Finally, State Street Corp increased its position in IES by 1.2% in the fourth quarter. State Street Corp now owns 205,905 shares of the technology company’s stock worth $80,101,000 after buying an additional 2,517 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.