Todd Cleveland Sells 5,000 Shares of IES (NASDAQ:IESC) Stock

IES Holdings, Inc. (NASDAQ:IESC) Director Todd Cleveland sold 5,000 shares of the firm’s stock in a transaction 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 transaction, the director owned 60,874 shares of the company’s stock, valued at approximately $46,379,291.86. This represents a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

IES Stock Down 1.5%

IESC opened at $685.18 on Thursday. IES Holdings, Inc. has a 52 week low of $265.00 and a 52 week high of $779.00. The business has a fifty day simple moving average of $641.90 and a 200-day simple moving average of $517.67. The firm has a market cap of $13.65 billion, a P/E ratio of 36.54 and a beta of 1.78.

IES (NASDAQ:IESC) last released 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 return on equity of 33.97% and a net margin of 10.40%.The business had revenue of $974.20 million during the quarter, compared to analyst estimates of $1.01 billion.

Institutional Investors Weigh In On IES

Several institutional investors have recently modified their holdings of IESC. First Trust Advisors LP boosted its stake in shares of IES by 982.7% during the 3rd quarter. First Trust Advisors LP now owns 323,893 shares of the technology company’s stock worth $128,796,000 after acquiring an additional 293,977 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of IES by 324,337.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 120,042 shares of the technology company’s stock worth $46,699,000 after purchasing an additional 120,005 shares during the last quarter. Norges Bank acquired a new position in shares of IES during the 4th quarter worth approximately $40,578,000. SG Capital Management LLC acquired a new position in shares of IES during the 3rd quarter worth approximately $38,609,000. Finally, Parsifal Capital Management LP acquired a new position in shares of IES during the 3rd quarter worth approximately $25,768,000. Hedge funds and other institutional investors own 86.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IESC. Wall Street Zen cut IES from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Freedom Capital cut 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 assigned a Hold rating to the stock. According to MarketBeat, IES presently has a consensus rating of “Moderate Buy” and a consensus target price 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.