IES (NASDAQ:IESC) Shares Gap Up – Here’s What Happened

IES Holdings, Inc. (NASDAQ:IESC) shares gapped up prior to trading on Wednesday . The stock had previously closed at $710.54, but opened at $738.96. IES shares last traded at $758.6770, with a volume of 49,405 shares traded.

Wall Street Analysts Forecast Growth

IESC has been the subject of a number of recent analyst reports. Wall Street Zen cut IES from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Freedom Capital lowered shares of IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of IES in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, IES currently has an average rating of “Moderate Buy” and an average target price of $458.00.

IES Trading Up 2.5%

The firm has a market cap of $15.27 billion, a price-to-earnings ratio of 40.88 and a beta of 1.78. The firm has a 50-day moving average of $666.96 and a two-hundred day moving average of $531.08.

IES (NASDAQ:IESC) last released its earnings results on Friday, May 1st. The technology company reported $4.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.95 by $0.21. The firm had revenue of $974.20 million for the quarter, compared to analyst estimates of $1.01 billion. IES had a return on equity of 33.97% and a net margin of 10.40%.

Insider Activity

In other news, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were 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 in the company, valued at approximately $7,872,249,686.73. This trade represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Todd M. Cleveland sold 5,000 shares of the business’s stock in a transaction 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 in the company, valued at $46,379,291.86. This trade represents a 7.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 208,102 shares of company stock valued at $146,518,202. 56.43% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Optiver Holding B.V. grew its position in IES by 62.5% during the first quarter. Optiver Holding B.V. now owns 52 shares of the technology company’s stock worth $25,000 after buying an additional 20 shares in the last quarter. Parallel Advisors LLC raised its holdings in 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 acquiring an additional 34 shares in the last quarter. International Assets Investment Management LLC acquired a new position in IES in the 4th quarter valued at approximately $38,000. Steward Partners Investment Advisory LLC lifted its position in shares of IES by 366.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company’s stock worth $38,000 after acquiring an additional 77 shares during the period. Finally, Global Retirement Partners LLC lifted its position in shares of IES by 59.0% in the 4th quarter. Global Retirement Partners LLC now owns 124 shares of the technology company’s stock worth $48,000 after acquiring an additional 46 shares during the period. Institutional investors and hedge funds own 86.60% of the company’s stock.

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.