IES (NASDAQ:IESC) Shares Gap Down Following Weak Earnings

IES Holdings, Inc. (NASDAQ:IESC)’s stock price gapped down before the market opened on Friday following a dissappointing earnings announcement. The stock had previously closed at $474.61, but opened at $425.86. IES shares last traded at $401.1130, with a volume of 35,971 shares.

The technology company reported $3.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.94 by ($0.23). IES had a net margin of 8.99% and a return on equity of 38.61%. The company had revenue of $870.96 million for the quarter, compared to the consensus estimate of $876.00 million.

Analyst Ratings Changes

Several research analysts have weighed in on IESC shares. Wall Street Zen upgraded IES from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 30th. Weiss Ratings restated a “buy (b)” rating on shares of IES in a research report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Insider Activity at IES

In other IES news, CEO Matthew J. Simmes sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $406.96, for a total transaction of $4,069,600.00. Following the transaction, the chief executive officer owned 98,575 shares of the company’s stock, valued at approximately $40,116,082. This trade represents a 9.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Tracy Mclauchlin sold 5,000 shares of IES stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $411.48, for a total transaction of $2,057,400.00. Following the transaction, the chief financial officer directly owned 65,525 shares in the company, valued at approximately $26,962,227. The trade was a 7.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 217,661 shares of company stock worth $96,387,385 over the last three months. Corporate insiders own 56.43% of the company’s stock.

Institutional Investors Weigh In On IES

Institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC boosted its holdings in shares of IES by 1,014.3% in the 3rd quarter. Global Retirement Partners LLC now owns 78 shares of the technology company’s stock valued at $31,000 after buying an additional 71 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of IES by 841.7% during the second quarter. Nisa Investment Advisors LLC now owns 113 shares of the technology company’s stock valued at $33,000 after buying an additional 101 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of IES by 157.9% in the third 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. Spire Wealth Management acquired a new position in IES in the 3rd quarter worth approximately $40,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of IES in the second quarter worth $47,000. Institutional investors own 86.60% of the company’s stock.

IES Stock Performance

The firm has a market cap of $7.58 billion, a PE ratio of 25.32 and a beta of 1.73. The stock has a 50 day simple moving average of $426.64 and a two-hundred day simple moving average of $387.15.

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.