IES (NASDAQ:IESC) Shares Down 6.8% – Time to Sell?

IES Holdings, Inc. (NASDAQ:IESC)’s share price fell 6.8% during mid-day trading on Wednesday . The company traded as low as $673.26 and last traded at $676.7240. 84,259 shares changed hands during trading, a decline of 59% from the average session volume of 207,416 shares. The stock had previously closed at $726.31.

Analysts Set New Price Targets

Several equities analysts recently weighed in on IESC shares. Freedom Capital cut IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Wall Street Zen lowered IES from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $458.00.

IES Trading Down 5.9%

The stock has a 50 day moving average price of $613.68 and a two-hundred day moving average price of $504.39. The company has a market cap of $13.62 billion, a price-to-earnings ratio of 36.33 and a beta of 1.78.

IES (NASDAQ:IESC) last posted its earnings results on Friday, May 1st. The technology company reported $4.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.95 by $0.21. IES had a net margin of 10.40% and a return on equity of 33.97%. The firm had revenue of $974.20 million for the quarter, compared to analysts’ expectations of $1.01 billion.

Insider Activity

In other IES news, Director Todd M. Cleveland sold 11,578 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $663.52, for a total value of $7,682,234.56. Following the completion of the sale, the director owned 65,817 shares in the company, valued at approximately $43,670,895.84. This trade represents a 14.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew J. Simmes sold 7,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $658.24, for a total transaction of $4,607,680.00. Following the completion of the sale, the chief executive officer owned 86,575 shares of the company’s stock, valued at approximately $56,987,128. This trade represents a 7.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 156,382 shares of company stock worth $107,366,474. Corporate insiders own 56.43% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IESC. First Trust Advisors LP grew its position in shares of IES by 982.7% during the 3rd quarter. First Trust Advisors LP now owns 323,893 shares of the technology company’s stock valued at $128,796,000 after acquiring an additional 293,977 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in IES by 324,337.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 120,042 shares of the technology company’s stock worth $46,699,000 after buying an additional 120,005 shares during the period. Norges Bank bought a new position in IES in the 4th quarter worth approximately $40,578,000. SG Capital Management LLC purchased a new stake in IES in the 3rd quarter worth approximately $38,609,000. Finally, Parsifal Capital Management LP purchased a new stake in shares of IES during the 3rd quarter valued at $25,768,000. 86.60% of the stock is owned by institutional investors.

About IES

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.