IES (NASDAQ:IESC) Trading Down 6.8% – Here’s What Happened

IES Holdings, Inc. (NASDAQ:IESC)’s stock price fell 6.8% on Wednesday . The stock traded as low as $673.26 and last traded at $676.7240. 84,259 shares were traded during trading, a decline of 59% from the average session volume of 207,416 shares. The stock had previously closed at $726.31.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IESC. Wall Street Zen downgraded IES from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Freedom Capital downgraded IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $458.00.

IES Price Performance

The firm has a market capitalization of $14.57 billion, a P/E ratio of 39.00 and a beta of 1.78. The firm has a 50-day moving average price of $623.51 and a two-hundred day moving average price of $509.18.

IES (NASDAQ:IESC) last released its quarterly earnings data on Friday, May 1st. The technology company reported $4.16 earnings per share for the quarter, beating the consensus estimate of $3.95 by $0.21. The firm 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%.

Insider Transactions at IES

In related news, Director Todd M. Cleveland sold 11,578 shares of IES stock in a transaction dated 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 completion of the sale, the director directly owned 65,817 shares in the company, valued at $43,670,895.84. The trade was a 14.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Tracy Mclauchlin sold 3,000 shares of IES stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $662.61, for a total value of $1,987,830.00. Following the completion of the sale, the chief financial officer owned 62,525 shares of the company’s stock, valued at $41,429,690.25. The trade was a 4.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 156,382 shares of company stock valued at $107,366,474. Insiders own 56.43% of the company’s stock.

Institutional Trading of IES

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP raised its holdings in shares of IES by 40.4% in the first quarter. First Trust Advisors LP now owns 349,163 shares of the technology company’s stock valued at $166,366,000 after acquiring an additional 100,425 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of IES by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 274,725 shares of the technology company’s stock valued at $106,887,000 after acquiring an additional 6,349 shares in the last quarter. Pertento Partners LLP raised its holdings in IES by 17.1% in the fourth quarter. Pertento Partners LLP now owns 209,351 shares of the technology company’s stock worth $81,442,000 after purchasing an additional 30,583 shares in the last quarter. State Street Corp raised its holdings in IES by 1.2% in the fourth quarter. State Street Corp now owns 205,905 shares of the technology company’s stock worth $80,101,000 after purchasing an additional 2,517 shares in the last quarter. Finally, Morgan Stanley raised its holdings in IES by 7.7% in the fourth quarter. Morgan Stanley now owns 171,488 shares of the technology company’s stock worth $66,713,000 after purchasing an additional 12,232 shares in the last quarter. 86.60% of the stock is currently owned by 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.