IES (NASDAQ:IESC) Announces Quarterly Earnings Results

IES (NASDAQ:IESC) announced its quarterly earnings data on Friday. The technology company reported $6.70 EPS for the quarter, topping analysts’ consensus estimates of $4.83 by $1.87, Zacks reports. IES had a net margin of 10.40% and a return on equity of 33.97%.

IES Stock Up 30.3%

Shares of NASDAQ IESC traded up $173.00 during midday trading on Friday, hitting $744.54. The company had a trading volume of 484,628 shares, compared to its average volume of 229,442. The business has a 50-day simple moving average of $673.17 and a two-hundred day simple moving average of $569.44. IES has a twelve month low of $309.51 and a twelve month high of $804.00. The firm has a market capitalization of $14.83 billion, a price-to-earnings ratio of 39.71 and a beta of 1.78.

Wall Street Analysts Forecast Growth

IESC has been the topic of a number of recent analyst reports. Freedom Capital lowered shares of IES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IES in a report on Thursday, June 18th. Finally, Wall Street Zen downgraded IES from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $458.00.

Insider Activity at IES

In related news, Director Todd M. Cleveland sold 11,578 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $663.52, for a total value of $7,682,234.56. Following the completion of the transaction, the director directly owned 65,817 shares of the company’s stock, valued at $43,670,895.84. This trade represents a 14.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of IES stock in a transaction on Friday, June 12th. The stock was sold at an average price of $756.47, for a total value of $35,342,278.40. Following the transaction, the chairman directly owned 10,406,559 shares of the company’s stock, valued at approximately $7,872,249,686.73. This represents a 0.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 208,102 shares of company stock valued at $146,518,202. 56.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On IES

Hedge funds have recently added to or reduced their stakes in the business. Vestcor Inc purchased a new stake in IES in the 3rd quarter valued at approximately $239,000. Amundi purchased a new position in IES during the fourth quarter worth $235,000. Cibc World Markets Corp acquired a new position in shares of IES in the fourth quarter worth $233,000. Inceptionr LLC purchased a new stake in shares of IES in the fourth quarter valued at $212,000. Finally, Brooklyn Investment Group purchased a new stake in shares of IES in the fourth quarter valued at $210,000. 86.60% of the stock is currently 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.