IES (NASDAQ:IESC) Shares Gap Down on Disappointing Earnings

Shares of IES Holdings, Inc. (NASDAQ:IESC) gapped down before the market opened on Friday following a weaker than expected earnings announcement. 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 earnings per share for the quarter, missing the consensus estimate of $3.94 by ($0.23). IES had a return on equity of 38.61% and a net margin of 8.99%.The business had revenue of $870.96 million during the quarter, compared to analysts’ expectations of $876.00 million.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of IES from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of IES in a report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

Insider Transactions at IES

In related news, Chairman Jeffrey L. Et Al Gendell sold 76,400 shares of IES stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $473.25, for a total transaction of $36,156,300.00. Following the transaction, the chairman directly owned 10,595,320 shares of the company’s stock, valued at $5,014,235,190. This trade represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Tracy Mclauchlin sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $411.48, for a total transaction of $2,057,400.00. Following the completion of the transaction, the chief financial officer directly owned 65,525 shares of the company’s stock, valued at $26,962,227. This trade represents a 7.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 217,661 shares of company stock worth $96,387,385. Insiders own 56.43% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IESC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in IES by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,904 shares of the technology company’s stock valued at $810,000 after acquiring 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% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,787 shares of the technology company’s stock worth $3,762,000 after purchasing an additional 1,435 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of IES during the 2nd quarter valued at $259,000. Farther Finance Advisors LLC boosted its position in shares of IES by 54,800.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 549 shares of the technology company’s stock worth $163,000 after purchasing an additional 548 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new position in IES during the 2nd quarter worth $331,000. Hedge funds and other institutional investors own 86.60% of the company’s stock.

IES Trading Down 19.9%

The company has a 50-day moving average of $426.46 and a 200-day moving average of $386.63. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of 25.59 and a beta of 1.73.

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.