IES (NASDAQ:IESC) Shares Down 7.2% – Here’s Why

IES Holdings, Inc. (NASDAQ:IESC)’s stock price fell 7.2% on Monday . The company traded as low as $682.00 and last traded at $691.0260. 32,076 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 228,446 shares. The stock had previously closed at $744.54.

Analyst Ratings Changes

IESC has been the topic of several recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of IES in a report on Thursday, June 18th. Wall Street Zen raised shares of IES from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Freedom Capital lowered shares of IES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $458.00.

IES Stock Performance

The stock has a market cap of $15.15 billion, a price-to-earnings ratio of 33.78 and a beta of 1.79. The company’s 50 day simple moving average is $677.44 and its two-hundred day simple moving average is $576.19.

Shares of IES are scheduled to split on Monday, August 24th. The 2-1 split was announced on Friday, July 31st. The newly minted shares will be payable to shareholders after the market closes on Friday, August 21st.

IES (NASDAQ:IESC) last issued its earnings results on Friday, July 31st. The technology company reported $6.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.83 by $1.87. IES had a net margin of 11.40% and a return on equity of 35.70%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.08 billion.

Insider Activity at IES

In other IES news, Director Todd M. Cleveland sold 5,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $761.89, for a total value of $3,809,450.00. Following the transaction, the director owned 60,874 shares in the company, valued at $46,379,291.86. The trade was a 7.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chairman directly owned 10,406,559 shares in the company, valued at approximately $7,872,249,686.73. The trade was a 0.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 160,077 shares of company stock valued at $114,124,783. Insiders own 56.43% of the company’s stock.

Hedge Funds Weigh In On IES

A number of hedge funds have recently added to or reduced their stakes in IESC. First Trust Advisors LP lifted its stake in IES by 40.4% in the first quarter. First Trust Advisors LP now owns 349,163 shares of the technology company’s stock valued at $166,366,000 after acquiring an additional 100,425 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of IES by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 274,725 shares of the technology company’s stock worth $106,887,000 after purchasing an additional 6,349 shares during the last quarter. Pertento Partners LLP increased its stake in shares of IES by 17.1% during the 4th quarter. Pertento Partners LLP now owns 209,351 shares of the technology company’s stock worth $81,442,000 after purchasing an additional 30,583 shares during the last quarter. State Street Corp raised its holdings in shares of IES by 1.2% during the 4th quarter. State Street Corp now owns 205,905 shares of the technology company’s stock valued at $80,101,000 after purchasing an additional 2,517 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of IES by 7.7% during the 4th quarter. Morgan Stanley now owns 171,488 shares of the technology company’s stock valued at $66,713,000 after purchasing an additional 12,232 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.