IES (NASDAQ:IESC) Chairman Jeffrey Et Al Gendell Sells 40,103 Shares of Stock

IES Holdings, Inc. (NASDAQ:IESC) Chairman Jeffrey Et Al Gendell sold 40,103 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $677.19, for a total value of $27,157,350.57. Following the completion of the transaction, the chairman directly owned 10,547,058 shares in the company, valued at approximately $7,142,362,207.02. This represents a 0.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

IES Price Performance

Shares of IES stock traded up $1.07 during trading hours on Friday, hitting $666.70. 164,427 shares of the company’s stock traded hands, compared to its average volume of 211,634. The stock has a market capitalization of $13.29 billion, a price-to-earnings ratio of 35.56 and a beta of 1.81. IES Holdings, Inc. has a 12-month low of $235.99 and a 12-month high of $688.51. The company has a fifty day simple moving average of $511.80 and a 200-day simple moving average of $456.24.

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

Institutional Trading of IES

Hedge funds and other institutional investors have recently modified their holdings of the business. Florida Financial Advisors LLC lifted its stake in shares of IES by 18.7% during the 1st quarter. Florida Financial Advisors LLC now owns 4,548 shares of the technology company’s stock valued at $2,167,000 after buying an additional 715 shares in the last quarter. Parallel Advisors LLC raised its holdings in IES by 121.4% during the 1st quarter. Parallel Advisors LLC now owns 62 shares of the technology company’s stock valued at $30,000 after acquiring an additional 34 shares during the period. SEB Asset Management AB bought a new stake in IES during the 1st quarter valued at $238,000. Swiss National Bank lifted its position in shares of IES by 0.5% during the first quarter. Swiss National Bank now owns 17,740 shares of the technology company’s stock worth $8,453,000 after acquiring an additional 80 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of IES during the first quarter worth $332,000. Institutional investors own 86.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on IESC. Loop Capital set a $458.00 price target on shares of IES in a research note on Tuesday, February 3rd. Freedom Capital downgraded IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Wall Street Zen upgraded IES from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $458.00.

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.