IES (NASDAQ:IESC) Stock Price Down 6.8% – Here’s What Happened

IES Holdings, Inc. (NASDAQ:IESC)’s share price was down 6.8% on Wednesday . The company traded as low as $680.11 and last traded at $688.3450. 31,487 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 223,944 shares. The stock had previously closed at $738.79.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IESC. Wall Street Zen raised shares of IES from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Weiss Ratings reissued a “buy (b)” rating on shares of IES in a research report on Thursday, June 18th. Finally, Freedom Capital cut shares of IES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.00.

IES Stock Performance

The company’s 50 day moving average is $367.09 and its 200 day moving average is $306.78. The stock has a market capitalization of $14.00 billion, a price-to-earnings ratio of 31.27 and a beta of 1.78.

IES’s stock is 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 (NASDAQ:IESC) last announced its quarterly earnings data on Friday, July 31st. The technology company reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.93. IES had a net margin of 11.40% and a return on equity of 35.70%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.08 billion.

Insider Buying and Selling at IES

In other IES news, Chairman Jeffrey L. Et Al Gendell sold 93,440 shares of IES stock in a transaction on Friday, June 12th. The shares were sold at an average price of $378.24, for a total transaction of $35,342,278.40. Following the sale, the chairman owned 20,813,118 shares in the company, valued at $7,872,249,686.73. The trade was a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Todd M. Cleveland sold 10,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $380.94, for a total transaction of $3,809,450.00. Following the completion of the sale, the director directly owned 121,748 shares in the company, valued at approximately $46,379,291.86. The trade was a 7.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 168,170 shares of company stock valued at $61,991,652. 56.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On IES

A number of institutional investors have recently modified their holdings of the stock. Optiver Holding B.V. lifted its stake in shares of IES by 62.5% during the first quarter. Optiver Holding B.V. now owns 52 shares of the technology company’s stock valued at $25,000 after acquiring an additional 20 shares during the period. Allworth Financial LP acquired a new position in shares of IES in the 2nd quarter valued at $25,000. Parallel Advisors LLC grew its holdings in shares of IES by 121.4% in the 1st quarter. Parallel Advisors LLC now owns 62 shares of the technology company’s stock valued at $30,000 after buying an additional 34 shares during the period. International Assets Investment Management LLC bought a new stake in shares of IES in the 4th quarter valued at $38,000. Finally, Steward Partners Investment Advisory LLC raised its stake in IES by 366.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company’s stock worth $38,000 after buying an additional 77 shares during the period. 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.