IES (NASDAQ:IESC) Director Sells $7,682,234.56 in Stock

IES Holdings, Inc. (NASDAQ:IESC) Director Todd Cleveland sold 11,578 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $663.52, for a total value of $7,682,234.56. Following the transaction, the director owned 65,817 shares in the company, valued at $43,670,895.84. This represents a 14.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

IES Stock Performance

Shares of NASDAQ IESC opened at $666.70 on Monday. The stock has a 50 day moving average of $511.80 and a two-hundred day moving average of $456.24. The stock has a market cap of $13.29 billion, a P/E ratio of 35.56 and a beta of 1.81. IES Holdings, Inc. has a twelve month low of $235.99 and a twelve month high of $688.51.

IES (NASDAQ:IESC) last issued its quarterly earnings results 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. IES had a net margin of 10.40% and a return on equity of 33.97%. The firm had revenue of $974.20 million during the quarter, compared to analysts’ expectations of $1.01 billion.

Key Headlines 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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IESC. Parallel Advisors LLC boosted its stake in shares of IES by 121.4% during the 1st quarter. Parallel Advisors LLC now owns 62 shares of the technology company’s stock worth $30,000 after acquiring an additional 34 shares in the last quarter. Global Retirement Partners LLC increased its stake in IES by 1,014.3% in the 3rd quarter. Global Retirement Partners LLC now owns 78 shares of the technology company’s stock valued at $31,000 after purchasing an additional 71 shares in the last quarter. International Assets Investment Management LLC purchased a new position in IES in the 4th quarter valued at approximately $38,000. Steward Partners Investment Advisory LLC raised its holdings in IES by 366.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company’s stock worth $38,000 after purchasing an additional 77 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its position in IES by 157.9% during the third quarter. SBI Securities Co. Ltd. now owns 98 shares of the technology company’s stock worth $39,000 after purchasing an additional 60 shares in the last quarter. 86.60% of the stock is owned by hedge funds and other institutional investors.

IES Company Profile

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.