Insider Selling: IES (NASDAQ:IESC) Chairman Sells $4,754,811.00 in Stock

IES Holdings, Inc. (NASDAQ:IESC) Chairman Jeffrey Et Al Gendell sold 7,052 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $674.25, for a total transaction of $4,754,811.00. Following the transaction, the chairman owned 10,540,005 shares in the company, valued at $7,106,598,371.25. This represents a 0.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

IES Price Performance

IESC stock opened at $666.70 on Monday. The stock has a market capitalization of $13.29 billion, a PE ratio of 35.56 and a beta of 1.81. The company’s 50-day moving average is $511.80 and its 200-day moving average is $456.24. IES Holdings, Inc. has a 1 year low of $235.99 and a 1 year high of $688.51.

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

Analyst Ratings Changes

Several research firms have recently commented on IESC. Loop Capital set a $458.00 price objective on IES in a report on Tuesday, February 3rd. Freedom Capital downgraded shares of IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen lowered shares of IES from a “strong-buy” rating to a “buy” rating in a research note on Sunday. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $458.00.

Institutional Trading of IES

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Florida Financial Advisors LLC raised its stake in shares of IES by 18.7% in the first quarter. Florida Financial Advisors LLC now owns 4,548 shares of the technology company’s stock worth $2,167,000 after purchasing an additional 715 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of IES by 121.4% in the first quarter. Parallel Advisors LLC now owns 62 shares of the technology company’s stock valued at $30,000 after purchasing an additional 34 shares in the last quarter. SEB Asset Management AB purchased a new position in shares of IES during the first quarter valued at approximately $238,000. Swiss National Bank boosted 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 valued at $8,453,000 after buying an additional 80 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in IES during the first quarter worth $332,000. 86.60% of the stock is owned by institutional investors.

IES News Summary

Here are the key news stories impacting IES this week:

• Positive Sentiment: IES reported quarterly earnings of $4.16 per share, topping analyst estimates of $3.95 and reinforcing the company’s strong profitability profile. Revenue came in below expectations, but the earnings beat may still support the stock’s higher valuation. IES earnings and stock page
• Neutral Sentiment: Wall Street Zen recently upgraded IESC from “buy” to “strong-buy,” while Freedom Capital downgraded the stock from “strong-buy” to “hold.” The mixed analyst signals suggest some disagreement about how much upside remains after the stock’s sharp run. Article on Freedom Capital downgrade
• Negative Sentiment: CEO Matthew Simmes sold 7,000 shares, and Director Todd M. Cleveland sold 11,578 shares plus an additional 922 shares in separate transactions. Large insider sales can raise concern that executives and directors see less near-term upside at current levels. Insider selling alert
• Negative Sentiment: Chairman Jeffrey L. Et Al Gendell also sold 40,103 shares and then another 7,052 shares, adding to the negative sentiment around insider activity. Although the sales were small relative to his overall stake, the pace of selling may weigh on investor confidence. SEC filing

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.