IES (NASDAQ:IESC) Shares Down 6.8% – What’s Next?

IES Holdings, Inc. (NASDAQ:IESC)’s stock price was down 6.8% during trading on Wednesday . The company traded as low as $680.11 and last traded at $688.3450. Approximately 31,487 shares changed hands during trading, a decline of 86% from the average session volume of 223,944 shares. The stock had previously closed at $738.79.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on IESC shares. Wall Street Zen raised IES from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Freedom Capital lowered IES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of IES in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $229.00.

IES Price Performance

The company’s fifty day simple moving average is $380.61 and its 200-day simple moving average is $313.49. The firm has a market capitalization of $13.61 billion, a PE ratio of 30.35 and a beta of 1.79.

Shares of IES are scheduled to split on the morning of Monday, August 24th. The 2-1 split was announced on Friday, July 31st. The newly issued shares will be payable to shareholders after the closing bell on Friday, August 21st.

IES (NASDAQ:IESC) last released its earnings results on Friday, July 31st. The technology company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.93. The business had revenue of $1.24 billion during 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%.

Insider Activity at IES

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

Hedge Funds Weigh In On IES

Several hedge funds and other institutional investors have recently modified their holdings of the business. Optiver Holding B.V. raised its holdings in IES by 62.5% in the 1st quarter. Optiver Holding B.V. now owns 52 shares of the technology company’s stock valued at $25,000 after acquiring an additional 20 shares during the last quarter. Allworth Financial LP acquired a new position in shares of IES during the 2nd quarter worth approximately $25,000. Toth Financial Advisory Corp boosted its holdings in shares of IES by 73.9% during the 2nd quarter. Toth Financial Advisory Corp now owns 40 shares of the technology company’s stock worth $29,000 after purchasing an additional 17 shares during the last quarter. Parallel Advisors LLC grew its position in shares of 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 purchasing an additional 34 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of IES in the fourth quarter valued at approximately $38,000. 86.60% of the stock is owned by hedge funds and other 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.