IES (NASDAQ:IESC) Trading Down 10.1% – Time to Sell?

IES Holdings, Inc. (NASDAQ:IESC) shares fell 10.1% during trading on Tuesday . The stock traded as low as $534.47 and last traded at $542.38. Approximately 85,671 shares traded hands during trading, a decline of 62% from the average daily volume of 226,976 shares. The stock had previously closed at $603.23.

Wall Street Analysts Forecast Growth

IESC has been the subject of several recent analyst reports. Freedom Capital downgraded shares of IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of IES in a report on Thursday, June 18th. Finally, Wall Street Zen lowered shares of IES from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, IES currently has a consensus rating of “Moderate Buy” and a consensus target price of $458.00.

IES Stock Up 13.7%

The company’s 50-day moving average is $674.69 and its two-hundred day moving average is $568.16. The company has a market capitalization of $11.24 billion, a P/E ratio of 30.16 and a beta of 1.78.

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

Insider Transactions at IES

In other IES news, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the firm’s stock in a transaction dated 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 sale, the chairman directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Tracy Mclauchlin sold 3,000 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $662.61, for a total value of $1,987,830.00. Following the completion of the transaction, the chief financial officer owned 62,525 shares of the company’s stock, valued at $41,429,690.25. This represents a 4.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 208,102 shares of company stock worth $146,518,202 over the last 90 days. 56.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IES

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC grew its position in shares of IES by 729.2% during the fourth quarter. SG Americas Securities LLC now owns 11,285 shares of the technology company’s stock worth $4,390,000 after purchasing an additional 9,924 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in IES by 94.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 11,575 shares of the technology company’s stock worth $5,515,000 after purchasing an additional 5,618 shares in the last quarter. First Trust Advisors LP lifted its holdings in IES by 40.4% in the 1st quarter. First Trust Advisors LP now owns 349,163 shares of the technology company’s stock worth $166,366,000 after purchasing an additional 100,425 shares in the last quarter. RIHO Partners LLC bought a new position in IES in the 1st quarter worth approximately $4,069,000. Finally, Hsbc Holdings PLC bought a new position in IES in the 4th quarter worth approximately $2,826,000. 86.60% of the stock is currently owned by hedge funds and other institutional investors.

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.