Insider Selling: IES (NASDAQ:IESC) Chairman Sells $21,396,738.30 in Stock

IES Holdings, Inc. (NASDAQ:IESC) Chairman Jeffrey Et Al Gendell sold 30,310 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $705.93, for a total transaction of $21,396,738.30. Following the sale, the chairman directly owned 10,453,279 shares in the company, valued at $7,379,283,244.47. The trade was a 0.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

IES Price Performance

Shares of NASDAQ IESC opened at $678.35 on Friday. The stock has a market capitalization of $13.51 billion, a price-to-earnings ratio of 36.18 and a beta of 1.81. IES Holdings, Inc. has a 12 month low of $246.43 and a 12 month high of $713.82. The firm’s 50 day simple moving average is $579.13 and its 200-day simple moving average is $486.64.

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

Institutional Investors Weigh In On IES

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP boosted 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 purchasing an additional 100,425 shares during the last quarter. Geode Capital Management LLC boosted its stake in 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 boosted its stake in 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 boosted its stake in IES by 1.2% during the 4th quarter. State Street Corp now owns 205,905 shares of the technology company’s stock worth $80,101,000 after purchasing an additional 2,517 shares during the last quarter. Finally, Morgan Stanley boosted its stake in IES by 7.7% during the 4th quarter. Morgan Stanley now owns 171,488 shares of the technology company’s stock worth $66,713,000 after purchasing an additional 12,232 shares during the last quarter. Institutional investors and hedge funds own 86.60% of the company’s stock.

Wall Street Analysts Forecast Growth

IESC has been the topic of a number of research analyst reports. Wall Street Zen cut shares of IES from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Freedom Capital cut shares of IES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Finally, Loop Capital set a $458.00 price target on shares of IES in a research note on Tuesday, February 3rd. One equities research 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $458.00.

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.