IES Holdings, Inc. (NASDAQ:IESC) President and Chief Operating Officer, Matthew J. Simmes, recently sold a significant portion of his shares in the company. According to the latest filings, Simmes disposed of company stock valued at over $2.3 million.
The series of transactions, all dated May 7, 2024, involved the sale of shares at prices that ranged from $168.39 to $172.11. The sales were executed in multiple batches, with the prices reflecting a weighted average across the various transactions. Notably, the shares were sold in a price bracket starting at $167.84 and going up to $172.40, as detailed in the footnotes of the filing.
The largest single transaction listed involved the sale of 4,000 shares at an average price of $172.11 per share, totaling approximately $688,440. Another transaction included 4,936 shares sold at an average of $170.30, amounting to about $840,148. Smaller batches of 2,099 and 1,385 shares were sold at average prices of $168.39 and $169.23 respectively, with total values of $353,198 and $234,403. The final listed transaction was for 1,580 shares at an average price of $171.11, totaling approximately $270,354.
Following these transactions, Simmes retains a substantial number of shares in IES Holdings, indicating a continued vested interest in the company's performance. The sales have been duly reported in compliance with SEC regulations, offering transparency to investors and the market.
IES Holdings, Inc., which operates within the electrical work sector, has its headquarters in Houston, Texas. The company, previously known as Integrated Electrical Services, Inc., has a long history in the industry and is incorporated in Delaware.
Investors often monitor insider trading activity as a signal of executive confidence in the company's prospects. Transactions such as these are common and are required to be disclosed to the public through filings like the one Simmes submitted.
InvestingPro Insights
As investors digest the news of IES Holdings, Inc. (NASDAQ:IESC) President and COO Matthew J. Simmes selling a portion of his shares, it's important to consider the company's current financial health and market performance. InvestingPro data shows that IES Holdings has a market capitalization of $3.61 billion, with a Price/Earnings (P/E) ratio of 26.69, which adjusts slightly to 25.71 when looking at the last twelve months as of Q2 2024. This suggests the company is valued at a level consistent with its earnings.
Additionally, the company's Price to Book (P/B) ratio stands at 6.62, indicating that the market values the company at over six times its book value. This could suggest that investors are willing to pay a premium for IES Holdings shares, potentially because of the company's assets or its market position within the electrical work sector.
One of the InvestingPro Tips highlights that IES Holdings is trading at a low P/E ratio relative to near-term earnings growth, which could signal an attractive investment opportunity for those looking at the company's future earnings potential. Furthermore, the company's significant return over the last week, with a 10.42% price total return, may reflect positive investor sentiment in the short term.
For those looking to delve deeper into IES Holdings' financials and stock performance, there are 16 additional InvestingPro Tips available, which could provide further insights into whether the recent insider trading aligns with the company's overall trajectory. Interested investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access these valuable tips and make more informed investment decisions.
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