IES (NASDAQ:IESC) Trading 12.3% Higher – Here’s What Happened

IES Holdings, Inc. (NASDAQ:IESC)’s share price shot up 12.3% during trading on Thursday . The stock traded as high as $640.97 and last traded at $642.5040. 178,184 shares were traded during trading, a decline of 14% from the average session volume of 206,050 shares. The stock had previously closed at $572.01.

Wall Street Analyst Weigh In

Several brokerages recently commented on IESC. Wall Street Zen downgraded IES from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 7th. Loop Capital set a $458.00 price target on IES in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $458.00.

IES Stock Performance

The company has a fifty day moving average price of $499.81 and a two-hundred day moving average price of $448.15. The company has a market cap of $12.84 billion, a P/E ratio of 38.32 and a beta of 1.67.

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

Insider Activity at IES

In related news, CEO Matthew J. Simmes sold 5,000 shares of IES stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $506.26, for a total transaction of $2,531,300.00. Following the completion of the transaction, the chief executive officer owned 93,575 shares in the company, valued at approximately $47,373,279.50. This trade represents a 5.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Jeffrey L. Et Al Gendell sold 320 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $520.43, for a total value of $166,537.60. Following the sale, the chairman owned 10,587,161 shares of the company’s stock, valued at approximately $5,509,876,199.23. This represents a 0.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 20,659 shares of company stock valued at $10,636,940. 56.43% of the stock is owned by insiders.

Institutional Investors Weigh In On IES

Institutional investors have recently made changes to their positions in the stock. Global Retirement Partners LLC boosted its stake in shares of IES by 1,014.3% in the third quarter. Global Retirement Partners LLC now owns 78 shares of the technology company’s stock valued at $31,000 after buying an additional 71 shares during the period. International Assets Investment Management LLC acquired a new position in IES during the fourth quarter valued at approximately $38,000. Steward Partners Investment Advisory LLC raised its position in IES by 366.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company’s stock valued at $38,000 after purchasing an additional 77 shares in the last quarter. SBI Securities Co. Ltd. raised its position in IES by 157.9% during the third quarter. SBI Securities Co. Ltd. now owns 98 shares of the technology company’s stock valued at $39,000 after purchasing an additional 60 shares in the last quarter. Finally, Spire Wealth Management acquired a new position in IES during the third quarter valued at approximately $40,000. 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.