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 company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $677.19, for a total transaction of $27,157,350.57. Following the sale, the chairman owned 10,547,058 shares of the company’s stock, valued at $7,142,362,207.02. This trade represents a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

IES Price Performance

IESC stock opened at $666.70 on Friday. IES Holdings, Inc. has a 52-week low of $235.99 and a 52-week high of $688.51. The company has a 50-day moving average of $511.80 and a two-hundred day moving average of $456.24. 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 (NASDAQ:IESC) last released its quarterly earnings results on Friday, May 1st. The technology company reported $4.16 earnings per share (EPS) 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 analysts’ expectations of $1.01 billion.

Analysts Set New Price Targets

A number of research firms have issued reports on IESC. Loop Capital set a $458.00 price target on shares of IES in a report on Tuesday, February 3rd. Freedom Capital cut shares of IES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Finally, Wall Street Zen upgraded shares of 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 assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $458.00.

IES News Roundup

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alps Advisors Inc. increased its holdings in shares of IES by 60.5% during the third quarter. Alps Advisors Inc. now owns 5,726 shares of the technology company’s stock worth $2,277,000 after buying an additional 2,159 shares in the last quarter. AltraVue Capital LLC increased its holdings in shares of IES by 2.1% during the third quarter. AltraVue Capital LLC now owns 166,267 shares of the technology company’s stock worth $66,116,000 after buying an additional 3,370 shares in the last quarter. RFG Advisory LLC acquired a new stake in shares of IES during the third quarter worth approximately $944,000. Dakota Wealth Management acquired a new stake in shares of IES during the fourth quarter worth approximately $1,018,000. Finally, First Trust Advisors LP increased its holdings in shares of IES by 982.7% during the third quarter. First Trust Advisors LP now owns 323,893 shares of the technology company’s stock worth $128,796,000 after buying an additional 293,977 shares in the last quarter. Institutional investors own 86.60% of the company’s stock.

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.