IES Stock to Split on Monday, August 24th (NASDAQ:IESC)

Shares of IES Holdings, Inc. (NASDAQ:IESC) are going to split on the morning of Monday, August 24th. The 2-1 split was announced on Friday, July 31st. The newly minted shares will be payable to shareholders after the closing bell on Friday, August 21st.

IES Stock Performance

IESC opened at $780.00 on Wednesday. The business’s 50-day simple moving average is $685.29 and its 200 day simple moving average is $587.22. IES has a 52-week low of $309.51 and a 52-week high of $811.85. The firm has a market capitalization of $15.54 billion, a PE ratio of 34.65 and a beta of 1.79.

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

Analysts Set New Price Targets

Several research firms have recently commented on IESC. Weiss Ratings reissued a “buy (b)” rating on shares of IES in a report on Thursday, June 18th. Freedom Capital lowered shares of IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen upgraded shares of IES from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $458.00.

Insider Activity at IES

In related news, Director Todd M. Cleveland sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $761.89, for a total transaction of $3,809,450.00. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $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. Insiders sold 123,446 shares of company stock worth $89,308,580 in the last 90 days. Corporate insiders own 56.43% of the company’s stock.

Hedge Funds Weigh In On IES

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IESC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of IES by 4.8% in the first 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in 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 buying an additional 1,435 shares during the last quarter. Prudential Financial Inc. bought a new position in IES in the 2nd quarter valued at about $365,000. Quantbot Technologies LP bought a new position in IES in the 2nd quarter valued at about $89,000. Finally, Invesco Ltd. lifted its position in 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 acquiring an additional 27,849 shares during the last quarter. 86.60% of the stock is owned by institutional investors.

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.