Insider Selling: IES (NASDAQ:IESC) Chairman Sells 46,720 Shares of Stock

IES Holdings, Inc. (NASDAQ:IESC) Chairman Jeffrey Et Al Gendell sold 46,720 shares of IES stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $756.47, for a total transaction of $35,342,278.40. Following the completion of the transaction, the chairman directly owned 10,406,559 shares in the company, valued at approximately $7,872,249,686.73. The trade was a 0.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

IES Stock Down 4.2%

Shares of NASDAQ:IESC traded down $30.60 during midday trading on Tuesday, reaching $695.81. The company had a trading volume of 170,329 shares, compared to its average volume of 207,334. IES Holdings, Inc. has a 1-year low of $265.00 and a 1-year high of $779.00. The stock has a market cap of $13.86 billion, a PE ratio of 37.11 and a beta of 1.78. The business’s 50 day moving average price is $633.71 and its 200 day moving average price is $513.87.

IES (NASDAQ:IESC) last released its quarterly earnings results on Friday, May 1st. The technology company reported $4.16 earnings per share for the quarter, beating 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 company had revenue of $974.20 million during the quarter, compared to the consensus estimate of $1.01 billion.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of IES by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,904 shares of the technology company’s stock valued at $810,000 after buying an additional 223 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of IES by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,787 shares of the technology company’s stock valued at $3,762,000 after purchasing an additional 1,435 shares during the last quarter. Prudential Financial Inc. purchased a new position in shares of IES during the second quarter worth about $365,000. Quantbot Technologies LP acquired a new position in IES in the 2nd quarter valued at about $89,000. Finally, Invesco Ltd. lifted its holdings in shares of IES by 43.7% in the 2nd quarter. Invesco Ltd. now owns 91,567 shares of the technology company’s stock valued at $27,125,000 after buying an additional 27,849 shares during the period. Institutional investors own 86.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wall Street Zen cut shares of IES from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Freedom Capital lowered IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s 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.