IES (NASDAQ:IESC) Shares Gap Up – Here’s Why

IES Holdings, Inc. (NASDAQ:IESC) gapped up prior to trading on Wednesday . The stock had previously closed at $710.54, but opened at $738.96. IES shares last traded at $758.6770, with a volume of 49,405 shares changing hands.

Analyst Ratings Changes

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

IES Stock Performance

The stock has a fifty day simple moving average of $658.35 and a two-hundred day simple moving average of $526.40. The stock has a market cap of $15.25 billion, a PE ratio of 40.81 and a beta of 1.78.

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

Insider Buying and Selling

In other IES news, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $756.47, for a total value of $35,342,278.40. Following the transaction, the chairman owned 10,406,559 shares in the company, valued at $7,872,249,686.73. The trade was a 0.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Todd M. Cleveland sold 5,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $761.89, for a total transaction of $3,809,450.00. Following the completion of the transaction, the director directly owned 60,874 shares of the company’s stock, valued at approximately $46,379,291.86. The trade was a 7.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 208,102 shares of company stock valued at $146,518,202 in the last quarter. Company insiders own 56.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in IES by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,904 shares of the technology company’s stock valued at $810,000 after purchasing an additional 223 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of IES by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,787 shares of the technology company’s stock valued at $3,762,000 after purchasing an additional 1,435 shares in the last quarter. Prudential Financial Inc. purchased a new position in shares of IES during the 2nd quarter valued at approximately $365,000. Quantbot Technologies LP acquired a new stake in shares of IES during the second quarter worth approximately $89,000. Finally, Invesco Ltd. grew its position in shares of IES by 43.7% during the second quarter. Invesco Ltd. now owns 91,567 shares of the technology company’s stock worth $27,125,000 after buying an additional 27,849 shares in the last quarter. Institutional investors and hedge funds own 86.60% of the company’s stock.

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.