IES (NASDAQ:IESC) Director Todd Cleveland Sells 922 Shares of Stock

IES Holdings, Inc. (NASDAQ:IESC) Director Todd Cleveland sold 922 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $681.55, for a total value of $628,389.10. Following the sale, the director owned 77,395 shares of the company’s stock, valued at approximately $52,748,562.25. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

IES Stock Performance

IESC opened at $666.70 on Friday. The company has a market cap of $13.29 billion, a PE ratio of 35.56 and a beta of 1.81. The stock has a 50-day moving average of $511.80 and a 200-day moving average of $456.24. IES Holdings, Inc. has a 52-week low of $235.99 and a 52-week high of $688.51.

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, topping the consensus estimate of $3.95 by $0.21. The company had revenue of $974.20 million during the quarter, compared to the consensus estimate of $1.01 billion. IES had a return on equity of 33.97% and a net margin of 10.40%.

Institutional Trading of IES

Several hedge funds have recently added to or reduced their stakes in IESC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in IES by 4.8% during 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 purchasing an additional 223 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in IES by 6.7% during 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 period. Prudential Financial Inc. bought a new stake in IES during the 2nd quarter valued at approximately $365,000. Quantbot Technologies LP bought a new stake in IES during the 2nd quarter valued at approximately $89,000. Finally, Invesco Ltd. boosted its stake in IES by 43.7% during the 2nd quarter. Invesco Ltd. now owns 91,567 shares of the technology company’s stock valued at $27,125,000 after purchasing an additional 27,849 shares during the period. Institutional investors own 86.60% of the company’s stock.

Analysts Set New Price Targets

IESC has been the subject of several recent analyst reports. Loop Capital set a $458.00 price target on IES in a research note on Tuesday, February 3rd. Wall Street Zen upgraded IES from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Finally, Freedom Capital downgraded IES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $458.00.

Key Stories Impacting IES

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.