IES (NASDAQ:IESC) Shares Gap Down Following Weak Earnings

IES Holdings, Inc. (NASDAQ:IESC)’s share price gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $474.61, but opened at $425.86. IES shares last traded at $401.1130, with a volume of 35,971 shares traded.

The technology company reported $3.71 EPS for the quarter, missing the consensus estimate of $3.94 by ($0.23). The company had revenue of $870.96 million for the quarter, compared to analysts’ expectations of $876.00 million. IES had a net margin of 8.99% and a return on equity of 38.61%.

Wall Street Analysts Forecast Growth

IESC has been the subject of a number of research reports. Wall Street Zen upgraded shares of IES from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of IES in a research report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Insider Buying and Selling

In other news, CFO Tracy Mclauchlin sold 5,000 shares of IES stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $411.48, for a total value of $2,057,400.00. Following the transaction, the chief financial officer directly owned 65,525 shares of the company’s stock, valued at $26,962,227. The trade was a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Mary K. Newman sold 2,000 shares of IES stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $477.86, for a total transaction of $955,720.00. Following the transaction, the chief accounting officer owned 21,843 shares in the company, valued at $10,437,895.98. The trade was a 8.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 217,661 shares of company stock worth $96,387,385. Corporate insiders own 56.43% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Strategic Blueprint LLC lifted its stake in IES by 33.0% during the fourth quarter. Strategic Blueprint LLC now owns 1,648 shares of the technology company’s stock worth $641,000 after purchasing an additional 409 shares during the last quarter. Comerica Bank lifted its position in IES by 11.8% in the fourth quarter. Comerica Bank now owns 418 shares of the technology company’s stock worth $162,000 after purchasing an additional 44 shares during the period. Pictet Asset Management Holding SA lifted its holdings in IES by 18.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,423 shares of the technology company’s stock valued at $554,000 after acquiring an additional 222 shares during the last quarter. UBS Group AG lifted its holdings in IES by 4.9% in the 4th quarter. UBS Group AG now owns 88,715 shares of the technology company’s stock valued at $34,512,000 after acquiring an additional 4,159 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its position in shares of IES by 39.2% during the 4th quarter. Sanctuary Advisors LLC now owns 905 shares of the technology company’s stock valued at $352,000 after purchasing an additional 255 shares in the last quarter. 86.60% of the stock is owned by institutional investors and hedge funds.

IES Stock Performance

The company’s 50 day moving average price is $426.64 and its 200-day moving average price is $387.74. The company has a market cap of $7.58 billion, a price-to-earnings ratio of 25.32 and a beta of 1.73.

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.