IES (NASDAQ:IESC) Trading Down 10.4% – Here’s What Happened

IES Holdings, Inc. (NASDAQ:IESC)’s share price traded down 10.4% during mid-day trading on Tuesday . The stock traded as low as $597.03 and last traded at $600.81. Approximately 60,479 shares traded hands during trading, a decline of 74% from the average session volume of 228,555 shares. The stock had previously closed at $670.79.

Analysts Set New Price Targets

Several equities analysts have commented on IESC shares. Wall Street Zen downgraded shares of IES from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Weiss Ratings reissued a “buy (b)” rating on shares of IES in a research report on Thursday, June 18th. Finally, Freedom Capital cut shares of IES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $458.00.

IES Stock Performance

The firm has a market capitalization of $12.05 billion, a price-to-earnings ratio of 32.17 and a beta of 1.78. The company has a fifty day moving average of $687.26 and a two-hundred day moving average of $542.66.

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

Insider Buying and Selling at IES

In other IES news, 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 in the company, valued at $41,429,690.25. The trade was a 4.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Todd M. Cleveland sold 11,578 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $663.52, for a total transaction of $7,682,234.56. Following the completion of the sale, the director directly owned 65,817 shares of the company’s stock, valued at $43,670,895.84. This represents a 14.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 208,102 shares of company stock valued at $146,518,202. 56.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Optiver Holding B.V. boosted its stake in shares of IES by 62.5% in the first quarter. Optiver Holding B.V. now owns 52 shares of the technology company’s stock valued at $25,000 after buying an additional 20 shares during the period. Parallel Advisors LLC increased its stake in 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 during the period. International Assets Investment Management LLC bought a new position in IES during the 4th quarter worth $38,000. Steward Partners Investment Advisory LLC raised its holdings in IES by 366.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company’s stock valued at $38,000 after acquiring an additional 77 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in IES by 59.0% in the 4th quarter. Global Retirement Partners LLC now owns 124 shares of the technology company’s stock valued at $48,000 after acquiring an additional 46 shares in the last quarter. 86.60% of the stock is owned by 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.