IES (NASDAQ:IESC) Releases Quarterly Earnings Results, Misses Estimates By $0.23 EPS

IES (NASDAQ:IESC) released its quarterly earnings results on Friday. The technology company reported $3.71 EPS for the quarter, missing the consensus estimate of $3.94 by ($0.23), FiscalAI reports. IES had a return on equity of 38.61% and a net margin of 8.99%.The firm had revenue of $870.96 million for the quarter, compared to the consensus estimate of $876.00 million.

IES Trading Down 19.9%

Shares of IES stock opened at $380.29 on Friday. IES has a 52 week low of $146.51 and a 52 week high of $488.62. The stock has a market cap of $7.58 billion, a PE ratio of 25.32 and a beta of 1.73. The company’s 50-day moving average price is $426.64 and its two-hundred day moving average price is $387.15.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IESC. Weiss Ratings reissued a “buy (b)” rating on shares of IES in a research note on Monday, December 22nd. Wall Street Zen raised IES from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 30th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

Insider Buying and Selling at IES

In related news, insider Matthew Michael Allen sold 700 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $457.95, for a total transaction of $320,565.00. Following the completion of the sale, the insider directly owned 1,098 shares in the company, valued at approximately $502,829.10. This trade represents a 38.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Tracy Mclauchlin sold 5,000 shares of IES stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $411.48, for a total transaction of $2,057,400.00. Following the completion of the transaction, the chief financial officer owned 65,525 shares in the company, valued at approximately $26,962,227. This trade represents a 7.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 217,661 shares of company stock valued at $96,387,385. Corporate insiders own 56.43% of the company’s stock.

Institutional Investors Weigh In On IES

Hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC lifted its position in shares of 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 acquiring an additional 71 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in IES by 841.7% in the second quarter. Nisa Investment Advisors LLC now owns 113 shares of the technology company’s stock worth $33,000 after buying an additional 101 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in shares of IES by 157.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 98 shares of the technology company’s stock worth $39,000 after purchasing an additional 60 shares during the last quarter. Spire Wealth Management acquired a new stake in shares of IES in the 3rd quarter valued at $40,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in IES in the second quarter worth $47,000. 86.60% of the stock is owned by hedge funds and other 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.