Insider Selling: IES (NASDAQ:IESC) Chairman Sells $35,342,278.40 in Stock

IES Holdings, Inc. (NASDAQ:IESC) Chairman Jeffrey Et Al Gendell sold 46,720 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $756.47, for a total transaction of $35,342,278.40. Following the completion of the transaction, the chairman directly owned 10,406,559 shares of the company’s stock, valued at $7,872,249,686.73. The trade was a 0.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

IES Trading Up 4.0%

NASDAQ:IESC opened at $712.87 on Friday. The company has a market cap of $14.20 billion, a PE ratio of 38.02 and a beta of 1.78. IES Holdings, Inc. has a twelve month low of $265.00 and a twelve month high of $779.00. The company’s 50 day moving average is $646.52 and its two-hundred day moving average is $519.76.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on IESC. Freedom Capital lowered IES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Wall Street Zen downgraded IES from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, IES has an average rating of “Moderate Buy” and a consensus price target of $458.00.

Institutional Trading of IES

Several institutional investors and hedge funds have recently bought and sold shares of IESC. Empowered Funds LLC raised its holdings in shares of IES by 8.1% during the first quarter. Empowered Funds LLC now owns 1,515 shares of the technology company’s stock worth $722,000 after purchasing an additional 113 shares during the last quarter. Militia Capital Management LLC purchased a new stake in IES in the first quarter valued at $218,000. Parallel Advisors LLC grew its position in IES by 121.4% during the 1st quarter. Parallel Advisors LLC now owns 62 shares of the technology company’s stock worth $30,000 after purchasing an additional 34 shares during the period. Optiver Holding B.V. grew its position in IES by 62.5% during the 1st quarter. Optiver Holding B.V. now owns 52 shares of the technology company’s stock worth $25,000 after purchasing an additional 20 shares during the period. Finally, Segall Bryant & Hamill LLC raised its stake in shares of IES by 192.5% during the 1st quarter. Segall Bryant & Hamill LLC now owns 39,592 shares of the technology company’s stock valued at $18,864,000 after buying an additional 26,054 shares during the last quarter. 86.60% of the stock is currently 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.