Insider Selling: IES (NASDAQ:IESC) Director Sells 922 Shares of Stock

IES Holdings, Inc. (NASDAQ:IESC) Director Todd Cleveland sold 922 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $681.55, for a total transaction of $628,389.10. Following the sale, the director directly owned 77,395 shares of the company’s stock, valued at approximately $52,748,562.25. This trade represents a 1.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

IES Stock Performance

Shares of IESC stock traded up $1.07 during trading hours on Friday, hitting $666.70. 164,427 shares of the company were exchanged, compared to its average volume of 211,634. The firm has a market cap of $13.29 billion, a P/E ratio of 35.56 and a beta of 1.81. IES Holdings, Inc. has a fifty-two week low of $235.99 and a fifty-two week high of $688.51. The company has a 50 day simple moving average of $511.80 and a two-hundred day simple moving average of $456.24.

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

Hedge Funds Weigh In On IES

Several institutional investors have recently bought and sold shares of IESC. First Trust Advisors LP lifted its stake in IES by 982.7% in the third quarter. First Trust Advisors LP now owns 323,893 shares of the technology company’s stock valued at $128,796,000 after purchasing an additional 293,977 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in IES by 324,337.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 120,042 shares of the technology company’s stock valued at $46,699,000 after purchasing an additional 120,005 shares during the last quarter. Norges Bank purchased a new position in IES in the fourth quarter valued at approximately $40,578,000. SG Capital Management LLC purchased a new position in IES in the third quarter valued at approximately $38,609,000. Finally, Parsifal Capital Management LP purchased a new position in IES in the third quarter valued at approximately $25,768,000. Hedge funds and other institutional investors own 86.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wall Street Zen raised shares of IES from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Loop Capital set a $458.00 target price on IES in a research note on Tuesday, February 3rd. Finally, Freedom Capital downgraded IES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, IES has an average rating of “Moderate Buy” and a consensus target price of $458.00.

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.