IES (NASDAQ:IESC) Shares Gap Down on Disappointing Earnings

Shares of IES Holdings, Inc. (NASDAQ:IESC) gapped down before the market opened on Friday following a dissappointing earnings announcement. The stock had previously closed at $474.61, but opened at $425.86. IES shares last traded at $401.1130, with a volume of 35,971 shares changing hands.

The technology company reported $3.71 EPS for the quarter, missing the consensus estimate of $3.94 by ($0.23). The company had revenue of $870.96 million during the quarter, compared to analysts’ expectations of $876.00 million. IES had a net margin of 8.99% and a return on equity of 38.61%.

Wall Street Analysts Forecast Growth

IESC has been the subject of a number of research reports. Wall Street Zen raised IES from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of IES in a research note on Monday, December 22nd. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy”.

Insider Transactions at IES

In other IES news, Director David B. Gendell sold 17,867 shares of IES stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $452.20, for a total value of $8,079,457.40. Following the completion of the transaction, the director owned 70,669 shares of the company’s stock, valued at approximately $31,956,521.80. The trade was a 20.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Tracy Mclauchlin sold 5,000 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $411.48, for a total transaction of $2,057,400.00. Following the sale, the chief financial officer directly owned 65,525 shares in the company, valued at approximately $26,962,227. The trade was a 7.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 217,661 shares of company stock worth $96,387,385. Insiders own 56.43% of the company’s stock.

Hedge Funds Weigh In On IES

A number of large investors have recently bought and sold shares of IESC. Global Retirement Partners LLC grew its holdings in 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 purchasing an additional 71 shares during the period. SBI Securities Co. Ltd. grew its stake in IES by 157.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 98 shares of the technology company’s stock valued at $39,000 after acquiring an additional 60 shares during the period. Spire Wealth Management acquired a new position in IES during the third quarter worth $40,000. Nisa Investment Advisors LLC grew its position in shares of IES by 841.7% in the second quarter. Nisa Investment Advisors LLC now owns 113 shares of the technology company’s stock valued at $33,000 after purchasing an additional 101 shares during the period. Finally, Federated Hermes Inc. raised its position in shares of IES by 91.3% during the 3rd quarter. Federated Hermes Inc. now owns 132 shares of the technology company’s stock worth $52,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 86.60% of the company’s stock.

IES Stock Performance

The stock has a market capitalization of $7.58 billion, a PE ratio of 25.59 and a beta of 1.73. The stock’s 50 day moving average is $426.46 and its two-hundred day moving average is $386.63.

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.