Insider Selling: IES (NASDAQ:IESC) Director Sells $628,389.10 in Stock

IES Holdings, Inc. (NASDAQ:IESC) Director Todd Cleveland sold 922 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $681.55, for a total transaction of $628,389.10. Following the completion of the sale, the director owned 77,395 shares in the company, valued at $52,748,562.25. This represents a 1.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

IES Stock Performance

Shares of NASDAQ:IESC opened at $666.70 on Monday. IES Holdings, Inc. has a 52 week low of $235.99 and a 52 week high of $688.51. The company’s fifty day moving average is $511.80 and its 200-day moving average is $456.24. The company has a market capitalization of $13.29 billion, a PE ratio of 35.56 and a beta of 1.81.

IES (NASDAQ:IESC) last issued its earnings results on Friday, May 1st. The technology company reported $4.16 EPS for the quarter, beating the consensus estimate of $3.95 by $0.21. The company had revenue of $974.20 million for the quarter, compared to the consensus estimate of $1.01 billion. IES had a net margin of 10.40% and a return on equity of 33.97%.

Key Headlines Impacting IES

Here are the key news stories impacting IES this week:

• Positive Sentiment: IES reported quarterly earnings of $4.16 per share, topping analyst estimates of $3.95 and reinforcing the company’s strong profitability profile. Revenue came in below expectations, but the earnings beat may still support the stock’s higher valuation. IES earnings and stock page
• Neutral Sentiment: Wall Street Zen recently upgraded IESC from “buy” to “strong-buy,” while Freedom Capital downgraded the stock from “strong-buy” to “hold.” The mixed analyst signals suggest some disagreement about how much upside remains after the stock’s sharp run. Article on Freedom Capital downgrade
• Negative Sentiment: CEO Matthew Simmes sold 7,000 shares, and Director Todd M. Cleveland sold 11,578 shares plus an additional 922 shares in separate transactions. Large insider sales can raise concern that executives and directors see less near-term upside at current levels. Insider selling alert
• Negative Sentiment: Chairman Jeffrey L. Et Al Gendell also sold 40,103 shares and then another 7,052 shares, adding to the negative sentiment around insider activity. Although the sales were small relative to his overall stake, the pace of selling may weigh on investor confidence. SEC filing

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its position in IES by 121.4% during the 1st quarter. Parallel Advisors LLC now owns 62 shares of the technology company’s stock valued at $30,000 after purchasing an additional 34 shares during the period. 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 valued at $31,000 after purchasing an additional 71 shares during the period. International Assets Investment Management LLC acquired a new position in IES during the 4th quarter valued at about $38,000. Steward Partners Investment Advisory LLC lifted its position in IES by 366.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company’s stock valued at $38,000 after purchasing an additional 77 shares during the period. Finally, SBI Securities Co. Ltd. lifted its position in IES by 157.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 98 shares of the technology company’s stock valued at $39,000 after purchasing an additional 60 shares during the period. 86.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on IESC. Wall Street Zen downgraded shares of IES from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Loop Capital set a $458.00 price target on shares of IES in a research report on Tuesday, February 3rd. Finally, Freedom Capital downgraded shares of IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $458.00.

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.