IES (NASDAQ:IESC) Shares Gap Up on Earnings Beat

IES Holdings, Inc. (NASDAQ:IESC)’s stock price gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $571.54, but opened at $677.98. IES shares last traded at $721.3850, with a volume of 37,983 shares trading hands.

The technology company reported $6.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.83 by $1.87. IES had a net margin of 10.40% and a return on equity of 33.97%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on IESC shares. Weiss Ratings reiterated a “buy (b)” rating on shares of IES in a research note on Thursday, June 18th. Freedom Capital lowered shares of IES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Finally, Wall Street Zen cut shares of IES from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. One 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 has an average rating of “Moderate Buy” and a consensus target price of $458.00.

Insider Buying and Selling at IES

In other news, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of IES stock in a transaction dated 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 completion of the transaction, the chairman directly owned 10,406,559 shares of the company’s stock, valued at approximately $7,872,249,686.73. The trade was a 0.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Todd M. Cleveland sold 5,000 shares of the business’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 sale, the director directly owned 60,874 shares of the company’s stock, valued at approximately $46,379,291.86. This represents a 7.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 208,102 shares of company stock worth $146,518,202 over the last 90 days. Insiders own 56.43% of the company’s stock.

Hedge Funds Weigh In On IES

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC raised its position in shares of IES by 729.2% during the 4th quarter. SG Americas Securities LLC now owns 11,285 shares of the technology company’s stock worth $4,390,000 after purchasing an additional 9,924 shares during the period. Illinois Municipal Retirement Fund grew its stake in IES by 94.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 11,575 shares of the technology company’s stock worth $5,515,000 after buying an additional 5,618 shares during the last quarter. First Trust Advisors LP grew its stake in IES by 40.4% during the 1st quarter. First Trust Advisors LP now owns 349,163 shares of the technology company’s stock worth $166,366,000 after buying an additional 100,425 shares during the last quarter. RIHO Partners LLC acquired a new stake in IES in the first quarter worth $4,069,000. Finally, Hsbc Holdings PLC acquired a new stake in IES in the fourth quarter worth $2,826,000. Institutional investors own 86.60% of the company’s stock.

IES Stock Up 27.2%

The company has a market capitalization of $14.48 billion, a P/E ratio of 38.31 and a beta of 1.78. The business has a 50 day simple moving average of $673.17 and a 200-day simple moving average of $569.44.

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.