IES (NASDAQ:IESC) Announces Quarterly Earnings Results

IES (NASDAQ:IESC) announced its earnings results on Friday. The technology company reported $6.70 earnings per share for the quarter, beating the consensus estimate of $4.83 by $1.87, Zacks reports. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.08 billion. IES had a net margin of 10.40% and a return on equity of 33.97%.

IES Stock Up 30.3%

Shares of NASDAQ IESC opened at $744.54 on Friday. The firm’s 50-day simple moving average is $674.87 and its 200 day simple moving average is $570.66. The company has a market cap of $14.83 billion, a price-to-earnings ratio of 39.71 and a beta of 1.78. IES has a 12-month low of $309.51 and a 12-month high of $804.00.

Shares of IES are scheduled to split before the market opens on Monday, August 24th. The 2-1 split was announced on Friday, July 31st. The newly minted shares will be distributed to shareholders after the closing bell on Friday, August 21st.

Insider Buying and Selling at IES

In other IES news, CFO Tracy Mclauchlin sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $662.61, for a total transaction of $1,987,830.00. Following the transaction, the chief financial officer owned 62,525 shares of the company’s stock, valued at $41,429,690.25. The trade was a 4.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Todd M. Cleveland sold 5,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $761.89, for a total value of $3,809,450.00. Following the sale, the director directly owned 60,874 shares in the company, valued at $46,379,291.86. This represents a 7.59% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 208,102 shares of company stock worth $146,518,202. Corporate insiders own 56.43% of the company’s stock.

Hedge Funds Weigh In On IES

Several institutional investors have recently bought and sold shares of IESC. Smartleaf Asset Management LLC grew its position in IES by 4,566.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the technology company’s stock valued at $110,000 after buying an additional 274 shares during the period. Advyzon Investment Management LLC acquired a new stake in IES in the 4th quarter worth about $220,000. Brooklyn Investment Group purchased a new position in shares of IES in the fourth quarter valued at approximately $210,000. Inceptionr LLC acquired a new stake in shares of IES in the fourth quarter worth approximately $212,000. Finally, Los Angeles Capital Management LLC acquired a new position in IES in the 4th quarter valued at $177,000. Hedge funds and other institutional investors own 86.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of IES in a report on Thursday, June 18th. Freedom Capital cut shares of IES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, Wall Street Zen raised shares of IES from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, IES has an average rating of “Moderate Buy” and an average price target of $458.00.

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.