IES (NASDAQ:IESC) Trading Down 5.2% – Here’s What Happened

IES Holdings, Inc. (NASDAQ:IESC)’s share price fell 5.2% during mid-day trading on Tuesday . The stock traded as low as $309.27 and last traded at $307.3750. 131,064 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 443,101 shares. The stock had previously closed at $324.12.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wall Street Zen raised IES from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Freedom Capital lowered IES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of IES in a research report on Thursday, June 18th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $114.50.

IES Trading Up 0.4%

The company’s 50-day moving average price is $202.24 and its two-hundred day moving average price is $163.11. The company has a market cap of $13.26 billion, a P/E ratio of 29.69 and a beta of 1.79.

IES (NASDAQ:IESC) last announced its quarterly earnings data on Friday, July 31st. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.47. IES had a net margin of 11.40% and a return on equity of 35.70%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.08 billion.

Insider Buying and Selling at IES

In related news, Director Todd M. Cleveland sold 20,000 shares of IES stock in a transaction on Friday, June 12th. The stock was sold at an average price of $190.47, for a total value of $3,809,450.00. Following the transaction, the director directly owned 243,496 shares in the company, valued at $46,379,291.86. The trade was a 7.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Jeffrey L. Et Al Gendell sold 186,880 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $189.12, for a total value of $35,342,278.40. Following the sale, the chairman directly owned 41,626,236 shares in the company, valued at $7,872,249,686.73. This trade represents a 0.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 56.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On IES

A number of institutional investors have recently bought and sold shares of the stock. Optiver Holding B.V. lifted its stake in IES by 62.5% during 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 in the last quarter. Allworth Financial LP purchased a new position in shares of IES in the second quarter worth approximately $25,000. Toth Financial Advisory Corp raised its holdings in shares of IES by 73.9% during the second quarter. Toth Financial Advisory Corp now owns 40 shares of the technology company’s stock valued at $29,000 after acquiring an additional 17 shares during the period. Parallel Advisors LLC raised its holdings in shares of IES by 121.4% during the first quarter. Parallel Advisors LLC now owns 62 shares of the technology company’s stock valued at $30,000 after acquiring an additional 34 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of IES in the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 86.60% of the company’s stock.

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.