IES Shares to Split on Monday, August 24th (NASDAQ:IESC)

IES Holdings, Inc. (NASDAQ:IESC)’s stock is set to split on the morning of Monday, August 24th. The 2-1 split was announced on Friday, July 31st. The newly issued shares will be distributed to shareholders after the market closes on Friday, August 21st.

IES Stock Down 5.6%

Shares of IES stock opened at $697.38 on Thursday. The stock’s 50-day simple moving average is $374.25 and its 200-day simple moving average is $310.02. IES has a 52 week low of $309.51 and a 52 week high of $816.51. The company has a market capitalization of $13.89 billion, a price-to-earnings ratio of 30.98 and a beta of 1.79.

IES (NASDAQ:IESC) last released its quarterly earnings data on Friday, July 31st. The technology company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.93. IES had a return on equity of 35.70% and a net margin of 11.40%.The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.08 billion.

Wall Street Analyst Weigh In

IESC has been the subject of several recent analyst reports. Freedom Capital downgraded IES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Wall Street Zen upgraded shares of IES from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of IES in a report on Thursday, June 18th. One 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $229.00.

Insider Activity at IES

In related news, Chairman Jeffrey L. Et Al Gendell sold 93,440 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $378.24, for a total value of $35,342,278.40. Following the completion of the transaction, the chairman directly owned 20,813,118 shares of the company’s stock, valued at approximately $7,872,249,686.73. This trade represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Todd M. Cleveland sold 10,000 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $380.94, for a total transaction of $3,809,450.00. Following the completion of the sale, the director owned 121,748 shares in the company, valued at $46,379,291.86. This represents a 7.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 168,170 shares of company stock worth $61,991,652 over the last ninety days. Insiders own 56.43% of the company’s stock.

Hedge Funds Weigh In On IES

Institutional investors and hedge funds have recently made changes to their positions in the business. Optiver Holding B.V. raised its position in shares of IES by 62.5% during the 1st 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 in the last quarter. Allworth Financial LP purchased a new position in IES in the second quarter worth about $25,000. Toth Financial Advisory Corp grew its position in IES by 73.9% in the second quarter. Toth Financial Advisory Corp now owns 40 shares of the technology company’s stock worth $29,000 after acquiring an additional 17 shares in the last quarter. Parallel Advisors LLC increased its stake in IES by 121.4% during the first 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 last quarter. Finally, International Assets Investment Management LLC bought a new stake in IES during the fourth quarter worth approximately $38,000. 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.