Jeffrey Et Al Gendell Sells 30,310 Shares of IES (NASDAQ:IESC) Stock

IES Holdings, Inc. (NASDAQ:IESC) Chairman Jeffrey Et Al Gendell sold 30,310 shares of IES stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $705.93, for a total value of $21,396,738.30. Following the sale, the chairman directly owned 10,453,279 shares of the company’s stock, valued at $7,379,283,244.47. This trade represents a 0.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

IES Stock Down 2.9%

IES stock opened at $678.35 on Friday. IES Holdings, Inc. has a 52 week low of $246.43 and a 52 week high of $713.82. The company has a market capitalization of $13.52 billion, a price-to-earnings ratio of 36.18 and a beta of 1.81. The stock has a 50-day moving average price of $579.13 and a 200 day moving average price of $486.64.

IES (NASDAQ:IESC) last announced its quarterly 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. IES had a return on equity of 33.97% and a net margin of 10.40%.The company had revenue of $974.20 million during the quarter, compared to the consensus estimate of $1.01 billion.

Analyst Ratings Changes

IESC has been the subject of a number of analyst reports. Loop Capital set a $458.00 price target on IES in a report on Tuesday, February 3rd. Freedom Capital downgraded IES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, Wall Street Zen downgraded IES from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, IES presently has a consensus rating of “Moderate Buy” and a consensus price target of $458.00.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. First Trust Advisors LP raised its stake in shares of IES by 40.4% during the 1st quarter. First Trust Advisors LP now owns 349,163 shares of the technology company’s stock worth $166,366,000 after buying an additional 100,425 shares during the period. Geode Capital Management LLC raised its stake in shares of IES by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 274,725 shares of the technology company’s stock worth $106,887,000 after buying an additional 6,349 shares during the period. Pertento Partners LLP raised its stake in shares of IES by 17.1% during the 4th quarter. Pertento Partners LLP now owns 209,351 shares of the technology company’s stock worth $81,442,000 after buying an additional 30,583 shares during the period. State Street Corp raised its stake in shares of IES by 1.2% during the 4th quarter. State Street Corp now owns 205,905 shares of the technology company’s stock worth $80,101,000 after buying an additional 2,517 shares during the period. Finally, Morgan Stanley raised its stake in shares of IES by 7.7% during the 4th quarter. Morgan Stanley now owns 171,488 shares of the technology company’s stock worth $66,713,000 after buying an additional 12,232 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.