IES (NASDAQ:IESC) Posts Quarterly Earnings Results, Beats Estimates By $1.87 EPS

IES (NASDAQ:IESC) released its quarterly earnings data on Friday. The technology company reported $6.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.83 by $1.87, Zacks reports. IES had a return on equity of 33.97% and a net margin of 10.40%.

IES Stock Up 30.3%

NASDAQ:IESC traded up $173.00 during mid-day trading on Friday, reaching $744.54. 484,628 shares of the stock were exchanged, compared to its average volume of 229,442. The stock has a market capitalization of $14.83 billion, a P/E ratio of 39.71 and a beta of 1.78. IES has a 1 year low of $309.51 and a 1 year high of $804.00. The company has a 50 day simple moving average of $673.17 and a 200-day simple moving average of $569.44.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on IESC shares. Wall Street Zen cut IES from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Weiss Ratings restated a “buy (b)” rating on shares of IES in a research report on Thursday, June 18th. Finally, Freedom Capital cut shares of IES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $458.00.

Insider Buying and Selling at IES

In other news, Director Todd M. Cleveland sold 5,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $761.89, for a total value of $3,809,450.00. Following the completion of the sale, the director directly owned 60,874 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $756.47, for a total transaction of $35,342,278.40. Following the transaction, the chairman owned 10,406,559 shares in the company, valued at approximately $7,872,249,686.73. This trade represents a 0.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 208,102 shares of company stock worth $146,518,202. 56.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC grew its holdings in shares of IES by 366.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company’s stock worth $38,000 after buying an additional 77 shares during the last quarter. Global Retirement Partners LLC raised its stake in IES by 59.0% during the 4th quarter. Global Retirement Partners LLC now owns 124 shares of the technology company’s stock valued at $48,000 after acquiring an additional 46 shares during the last quarter. Greenline Wealth Management LLC acquired a new stake in IES during the 4th quarter worth approximately $56,000. CIBC Private Wealth Group LLC grew its stake in shares of IES by 1,318.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 156 shares of the technology company’s stock valued at $61,000 after purchasing an additional 145 shares during the last quarter. Finally, US Bancorp DE increased its holdings in shares of IES by 255.0% in the third quarter. US Bancorp DE now owns 213 shares of the technology company’s stock valued at $85,000 after purchasing an additional 153 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.