Gold is 2025’s best performer. UBS sees more upside
IES Holdings, Inc. (NASDAQ:IESC) has reported a significant stock transaction by director Cleveland Todd M, who sold shares totaling over $1.5 million. The sales occurred on September 11, 2024, and were disclosed in a recent filing with the Securities and Exchange Commission.
The transactions involved multiple sales of IES Holdings common stock at varying prices, resulting in a total sale value of approximately $1,535,712. The prices per share for these sales ranged from $151.08 to $155.48. Specifically, the sales were executed in several transactions, with prices starting from as low as $150.54 and reaching up to $155.93.
Investors may find the details of the sales noteworthy as they provide insight into the actions of the company's insiders. The director's remaining ownership in the company now stands at 104,654 shares following the transactions.
The company, which operates within the Electrical Work industry under the SIC code 1731, has seen its stock being actively traded by one of its directors, which could be of interest to current and prospective shareholders.
The reported transactions are part of the regular financial disclosures made by company insiders, which can be indicators of the company's financial health and management's belief in the company's future prospects. However, it is important for investors to consider a wide range of factors when assessing the implications of insider trading activities.
For those interested in following up on the complete details of the stock transactions, the SEC filing includes a commitment by the reporting person to provide full information regarding the number of shares sold at each separate price within the reported range upon request.
In other recent news, IES Holdings, Inc. has reported significant financial growth for the third quarter ending June 30, 2024. The company's revenue surged by 31% to $768 million, while operating income rose to $90.2 million, a 163% increase from the previous fiscal year. Net income attributable to IES for the quarter was $62.1 million, marking a 175% increase from the prior year's quarter. These developments point to the company's solid financial position and ability to capitalize on strong market demand.
In addition to the strong financial performance, IES Holdings continued its share repurchase program, with $20.9 million in shares repurchased during the third quarter. The Board of Directors authorized a new $200 million share repurchase program following the end of the quarter. Furthermore, the company announced the resignation of Elizabeth D. Leykum from its Board of Directors, citing other commitments as the reason for her departure. According to the company, her decision to step down is not the result of any disagreements with IES Holdings regarding its operations, policies, or practices.
InvestingPro Insights
IES Holdings, Inc. (NASDAQ:IESC) has recently made headlines with a notable insider transaction. To provide a broader investment context, certain metrics and tips from InvestingPro offer additional insights into the company's financial performance and stock valuation.
InvestingPro Data reveals a robust financial picture for IES Holdings, with a market capitalization of $3.22 billion and a Price/Earnings (P/E) Ratio of 18.81, which adjusts to 18.13 on a trailing twelve-month basis as of Q3 2024. This valuation metric is particularly relevant as it trades at a low P/E ratio relative to near-term earnings growth, suggesting a potentially undervalued stock in comparison to its earnings potential.
The company has also experienced considerable growth, with revenue increasing by 17.56% over the last twelve months leading up to Q3 2024. This is complemented by an impressive quarterly revenue growth of 31.48% in Q3 2024, indicating a strong upward trajectory in the company's earnings.
InvestingPro Tips highlight that IES Holdings has had a significant return over the last week, with an 8.0% price total return. This is part of a larger trend, as the company has also seen a high return over the last year, with a price total return of 127.62%. These figures underscore the company's robust performance in the stock market and may be of particular interest to investors looking for stocks with strong momentum.
Moreover, IES Holdings operates with a moderate level of debt and has liquid assets that exceed short-term obligations, suggesting a solid financial footing. The company's cash flows are also strong enough to sufficiently cover interest payments, which is a reassuring sign for investors concerned about the company's debt servicing capabilities.
For investors seeking further insights and analysis, there are an additional 11 InvestingPro Tips available for IES Holdings, Inc. at https://www.investing.com/pro/IESC. These tips provide deeper analysis and could be instrumental in making informed investment decisions regarding IESC stock.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.