IES (NASDAQ:IESC) Stock Price Down 9.8% Following Insider Selling

IES Holdings, Inc. (NASDAQ:IESC) shares dropped 9.8% on Thursday following insider selling activity. The company traded as low as $437.60 and last traded at $440.00. Approximately 100,303 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 204,749 shares. The stock had previously closed at $487.77.

Specifically, Director Todd M. Cleveland sold 1,425 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $500.84, for a total transaction of $713,697.00. Following the completion of the transaction, the director owned 78,089 shares in the company, valued at approximately $39,110,094.76. This represents a 1.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Todd M. Cleveland sold 875 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $501.13, for a total value of $438,488.75. Following the completion of the sale, the director owned 79,514 shares in the company, valued at approximately $39,846,850.82. This trade represents a 1.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In other news, Director Todd M. Cleveland sold 200 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $513.54, for a total transaction of $102,708.00. Following the completion of the transaction, the director directly owned 80,617 shares of the company’s stock, valued at $41,400,054.18. This represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Wall Street Zen cut IES from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IES in a research note on Monday, December 22nd. Finally, Loop Capital set a $458.00 price objective on shares of IES in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $458.00.

IES Stock Performance

The stock has a market cap of $8.49 billion, a price-to-earnings ratio of 25.34 and a beta of 1.68. The company has a 50-day simple moving average of $454.22 and a two-hundred day simple moving average of $411.70.

IES (NASDAQ:IESC) last released its quarterly earnings data on Friday, January 30th. The technology company reported $3.71 EPS for the quarter, missing the consensus estimate of $3.94 by ($0.23). The company had revenue of $870.96 million during the quarter, compared to analyst estimates of $876.00 million. IES had a net margin of 9.70% and a return on equity of 35.62%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IESC. Orion Porfolio Solutions LLC increased its stake in IES by 85.0% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 5,649 shares of the technology company’s stock worth $1,673,000 after acquiring an additional 2,596 shares during the period. Alps Advisors Inc. grew its holdings in shares of IES by 60.5% during the 3rd quarter. Alps Advisors Inc. now owns 5,726 shares of the technology company’s stock worth $2,277,000 after purchasing an additional 2,159 shares in the last quarter. Atria Investments Inc bought a new position in shares of IES in the second quarter worth $291,000. Geode Capital Management LLC raised its stake in IES by 4.8% in the second quarter. Geode Capital Management LLC now owns 263,993 shares of the technology company’s stock valued at $78,210,000 after purchasing an additional 12,026 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in IES by 50.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 110,313 shares of the technology company’s stock worth $32,678,000 after purchasing an additional 36,845 shares during the period. Institutional investors own 86.60% of the company’s stock.

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.