IES (NASDAQ:IESC) Shares Down 9.8% on Insider Selling

IES Holdings, Inc. (NASDAQ:IESC)’s share price fell 9.8% on Thursday after an insider sold shares in the company. The stock traded as low as $437.60 and last traded at $440.00. 100,303 shares traded hands during trading, a decline of 51% from the average session volume of 204,749 shares. The stock had previously closed at $487.77.

Specifically, Director Todd M. Cleveland sold 1,425 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $500.84, for a total transaction of $713,697.00. Following the completion of the sale, the director directly owned 78,089 shares in the company, valued at approximately $39,110,094.76. This trade represents a 1.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Todd M. Cleveland sold 875 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $501.13, for a total value of $438,488.75. Following the completion of the transaction, the director directly owned 79,514 shares in the company, valued at $39,846,850.82. This represents a 1.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In other IES news, Director Todd M. Cleveland sold 200 shares of IES stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $513.54, for a total value of $102,708.00. Following the completion of the sale, the director directly owned 80,617 shares in the company, valued at approximately $41,400,054.18. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analysts Set New Price Targets

IESC has been the subject of several recent analyst reports. Loop Capital set a $458.00 price objective on shares of IES in a research report on Tuesday, February 3rd. Wall Street Zen lowered shares of IES from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of IES in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $458.00.

IES Trading Down 11.6%

The firm has a market cap of $8.59 billion, a P/E ratio of 25.64 and a beta of 1.68. The company’s 50-day moving average is $453.84 and its two-hundred day moving average is $411.60.

IES (NASDAQ:IESC) last issued its quarterly earnings data on Friday, January 30th. The technology company reported $3.71 EPS for the quarter, missing the consensus estimate of $3.94 by ($0.23). IES had a return on equity of 35.62% and a net margin of 9.70%.The company had revenue of $870.96 million during the quarter, compared to analysts’ expectations of $876.00 million.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IESC. Global Retirement Partners LLC lifted its position in shares of IES by 1,014.3% during the 3rd quarter. Global Retirement Partners LLC now owns 78 shares of the technology company’s stock worth $31,000 after buying an additional 71 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in IES by 841.7% in the second quarter. Nisa Investment Advisors LLC now owns 113 shares of the technology company’s stock worth $33,000 after purchasing an additional 101 shares during the last quarter. International Assets Investment Management LLC bought a new position in IES in the 4th quarter valued at $38,000. Steward Partners Investment Advisory LLC increased its position in shares of IES by 366.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company’s stock valued at $38,000 after purchasing an additional 77 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its position in shares of IES by 157.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 98 shares of the technology company’s stock valued at $39,000 after purchasing an additional 60 shares during the last quarter. 86.60% of the stock is currently owned by hedge funds and other institutional investors.

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.