IES (NASDAQ:IESC) Announces Quarterly Earnings Results

IES (NASDAQ:IESC) issued its quarterly earnings data on Friday. The technology company reported $6.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.83 by $1.87, Zacks reports. IES had a return on equity of 33.97% and a net margin of 10.40%.

IES Stock Up 30.3%

NASDAQ:IESC traded up $173.00 during mid-day trading on Friday, reaching $744.54. 485,140 shares of the company were exchanged, compared to its average volume of 229,956. The stock has a market cap of $14.83 billion, a PE ratio of 39.71 and a beta of 1.78. IES has a 12 month low of $309.51 and a 12 month high of $804.00. The company has a fifty day moving average of $673.17 and a 200 day moving average of $569.44.

Analyst Ratings Changes

Several equities analysts recently issued reports on IESC shares. 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 report on Tuesday, May 5th. Finally, Wall Street Zen cut shares of IES from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $458.00.

Insider Activity at IES

In other news, CEO Matthew J. Simmes sold 7,000 shares of IES stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $658.24, for a total value of $4,607,680.00. Following the completion of the sale, the chief executive officer directly owned 86,575 shares of the company’s stock, valued at approximately $56,987,128. This trade represents a 7.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the business’s stock in a transaction 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 sale, the chairman 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 SEC filing for this sale provides additional information. Insiders have sold a total of 208,102 shares of company stock valued at $146,518,202 over the last ninety days. Company insiders own 56.43% of the company’s stock.

Institutional Investors Weigh In On IES

A number of institutional investors have recently made changes to their positions in the stock. Invesco Ltd. increased its position in shares of IES by 0.7% in the 4th quarter. Invesco Ltd. now owns 91,743 shares of the technology company’s stock valued at $35,690,000 after buying an additional 605 shares in the last quarter. Vident Advisory LLC grew its stake in IES by 3.4% in the fourth quarter. Vident Advisory LLC now owns 12,059 shares of the technology company’s stock valued at $4,691,000 after acquiring an additional 391 shares during the period. Empowered Funds LLC increased its holdings in shares of IES by 27.0% in the fourth quarter. Empowered Funds LLC now owns 1,402 shares of the technology company’s stock worth $545,000 after acquiring an additional 298 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of IES in the fourth quarter worth about $328,000. Finally, VestGen Advisors LLC raised its position in shares of IES by 4.7% during the fourth quarter. VestGen Advisors LLC now owns 1,796 shares of the technology company’s stock worth $699,000 after purchasing an additional 81 shares during the period. 86.60% of the stock is owned by institutional investors and hedge funds.

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.