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HOUSTON—Tracy McLauchlin, Senior Vice President, Chief Financial Officer, and Treasurer of IES Holdings, Inc. (NASDAQ:IESC), a company with a market capitalization of nearly $5 billion and remarkable YTD returns of 214%, has sold a substantial amount of company stock, according to a recent SEC filing. On December 12, McLauchlin sold 5,000 shares of IES Holdings' common stock, with prices ranging from $253.02 to $253.50 per share. The total value of the transaction was approximately $1.27 million. Following this sale, McLauchlin retains ownership of 71,177 shares of the company. According to InvestingPro analysis, IES Holdings maintains strong financial health with a "GREAT" overall score, supported by robust cash flows and profitable operations. The stock has demonstrated exceptional momentum, gaining over 81% in the past six months. Discover more insights and 12 additional ProTips with InvestingPro.
In other recent news, a consortium led by Mason Capital Management LLC, including IES Holdings, Inc., has finalized an agreement to acquire CB&I storage solutions business from McDermott International, Ltd. The transaction is expected to close in the fourth quarter of 2024, bolstering CB&I's financial independence and competitive edge in the energy infrastructure sector. The acquisition is seen as a strategic response to the increasing demand for infrastructure and energy projects.
In related developments, IES Holdings, Inc. has reported a notable increase in its financial performance for the third quarter ending June 30, 2024. The company's revenue surged by 31% to $768 million, while its operating income rose to $90.2 million, a 163% increase from the previous fiscal year. The net income attributable to IES for the quarter was $62.1 million, marking a 175% increase from the prior year's quarter.
Furthermore, IES Holdings has announced the addition of John Louis Fouts to its Board of Directors. Concurrently, the company also reported the resignation of Elizabeth D. Leykum from its Board of Directors. These are among the recent developments at IES Holdings and CB&I, indicating their ongoing strategic and operational evolution.
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