IES (NASDAQ:IESC) Shares Down 6.5% – Should You Sell?

IES Holdings, Inc. (NASDAQ:IESC) was down 6.5% on Friday . The company traded as low as $598.20 and last traded at $602.01. Approximately 67,411 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 205,721 shares. The stock had previously closed at $644.08.

Analyst Ratings Changes

IESC has been the topic of several research reports. Wall Street Zen cut IES from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 7th. Loop Capital set a $458.00 target price on IES in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $458.00.

IES Stock Performance

The firm’s 50-day simple moving average is $502.55 and its 200 day simple moving average is $449.51. The stock has a market capitalization of $13.14 billion, a P/E ratio of 38.94 and a beta of 1.67.

IES (NASDAQ:IESC) last issued its quarterly earnings results on Friday, May 1st. The technology company reported $4.16 EPS for the quarter, topping the consensus estimate of $3.95 by $0.21. IES had a net margin of 9.70% and a return on equity of 35.62%.

Insiders Place Their Bets

In other IES news, Chairman Jeffrey L. Et Al Gendell sold 320 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $520.43, for a total transaction of $166,537.60. Following the sale, the chairman directly owned 10,587,161 shares of the company’s stock, valued at $5,509,876,199.23. The trade was a 0.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Matthew J. Simmes sold 5,000 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $506.26, for a total transaction of $2,531,300.00. Following the sale, the chief executive officer directly owned 93,575 shares in the company, valued at $47,373,279.50. This trade represents a 5.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 20,659 shares of company stock valued at $10,636,940 in the last three months. 56.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On IES

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC lifted its position in IES by 1,014.3% during the 3rd quarter. Global Retirement Partners LLC now owns 78 shares of the technology company’s stock worth $31,000 after buying an additional 71 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of IES during the 4th quarter worth about $38,000. Steward Partners Investment Advisory LLC increased its stake in shares of IES by 366.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company’s stock worth $38,000 after purchasing an additional 77 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in shares of IES by 157.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 98 shares of the technology company’s stock worth $39,000 after purchasing an additional 60 shares during the last quarter. Finally, Spire Wealth Management acquired a new position in shares of IES during the 3rd quarter worth about $40,000. 86.60% of the stock is owned by institutional investors.

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.