IES (NASDAQ:IESC) Posts Quarterly Earnings Results, Beats Estimates By $0.21 EPS

IES (NASDAQ:IESC) issued its quarterly earnings data on Friday. The technology company reported $4.16 EPS for the quarter, topping the consensus estimate of $3.95 by $0.21, Zacks reports. IES had a net margin of 9.70% and a return on equity of 35.62%.

IES Trading Up 1.8%

IESC traded up $11.56 during trading hours on Friday, hitting $655.64. 350,536 shares of the company’s stock were exchanged, compared to its average volume of 203,035. IES has a 12-month low of $213.57 and a 12-month high of $675.00. The firm has a 50 day moving average of $502.55 and a 200 day moving average of $449.51. The firm has a market cap of $13.07 billion, a P/E ratio of 39.00 and a beta of 1.81.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Loop Capital set a $458.00 price objective on shares of IES in a report on Tuesday, February 3rd. Wall Street Zen lowered shares of IES from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, IES currently has a consensus rating of “Buy” and a consensus price target of $458.00.

Insider Buying and Selling

In related news, Director Todd M. Cleveland sold 1,425 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $500.84, for a total transaction of $713,697.00. Following the sale, the director directly owned 78,089 shares of the company’s stock, valued at $39,110,094.76. This represents a 1.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Jeffrey L. Et Al Gendell sold 320 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $520.43, for a total transaction of $166,537.60. Following the sale, the chairman directly owned 10,587,161 shares in the company, valued at approximately $5,509,876,199.23. The trade was a 0.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 20,659 shares of company stock valued at $10,636,940 in the last ninety days. Company insiders own 56.43% of the company’s stock.

Institutional Investors Weigh In On IES

A number of large investors have recently modified their holdings of IESC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of IES by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,904 shares of the technology company’s stock valued at $810,000 after purchasing an additional 223 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of IES by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,787 shares of the technology company’s stock valued at $3,762,000 after purchasing an additional 1,435 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of IES in the 2nd quarter valued at approximately $365,000. Quantbot Technologies LP purchased a new stake in shares of IES in the 2nd quarter valued at approximately $89,000. Finally, Invesco Ltd. increased its position in shares of IES by 43.7% in the 2nd quarter. Invesco Ltd. now owns 91,567 shares of the technology company’s stock valued at $27,125,000 after purchasing an additional 27,849 shares during the last quarter. 86.60% of the stock is 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.