IES (NASDAQ:IESC) Announces Quarterly Earnings Results, Misses Estimates By $0.23 EPS

IES (NASDAQ:IESC) announced its quarterly earnings results on Friday. The technology company reported $3.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.94 by ($0.23), FiscalAI reports. The company had revenue of $870.96 million during 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%.

IES Stock Performance

Shares of NASDAQ:IESC traded down $96.36 during trading on Friday, reaching $378.25. The stock had a trading volume of 267,950 shares, compared to its average volume of 168,611. IES has a 1-year low of $146.51 and a 1-year high of $488.62. The stock has a market cap of $7.54 billion, a PE ratio of 25.26 and a beta of 1.73. The business has a fifty day moving average price of $426.46 and a 200-day moving average price of $386.63.

Insider Transactions at IES

In other news, insider Matthew Michael Allen sold 700 shares of IES stock in a transaction on Monday, December 15th. The stock was sold at an average price of $457.95, for a total transaction of $320,565.00. Following the transaction, the insider owned 1,098 shares in the company, valued at $502,829.10. The trade was a 38.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David B. Gendell sold 17,867 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $452.20, for a total value of $8,079,457.40. Following the sale, the director directly owned 70,669 shares of the company’s stock, valued at approximately $31,956,521.80. This trade represents a 20.18% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 217,661 shares of company stock valued at $96,387,385. 56.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On IES

A number of institutional investors and hedge funds have recently made changes to their positions in IESC. Global Retirement Partners LLC raised its holdings in IES by 1,014.3% in the third quarter. Global Retirement Partners LLC now owns 78 shares of the technology company’s stock valued at $31,000 after acquiring an additional 71 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in shares of IES by 157.9% during the third quarter. SBI Securities Co. Ltd. now owns 98 shares of the technology company’s stock worth $39,000 after purchasing an additional 60 shares in the last quarter. Spire Wealth Management purchased a new position in IES in the third quarter valued at $40,000. Nisa Investment Advisors LLC raised its stake in IES by 841.7% in the second quarter. Nisa Investment Advisors LLC now owns 113 shares of the technology company’s stock valued at $33,000 after buying an additional 101 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in IES by 91.3% during the 3rd quarter. Federated Hermes Inc. now owns 132 shares of the technology company’s stock worth $52,000 after buying an additional 63 shares during the last quarter. 86.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on IESC shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IES in a report on Monday, December 22nd. Wall Street Zen upgraded IES from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 30th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, IES presently has an average rating of “Buy”.

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.