HOUSTON—Matthew J. Simmes, President and Chief Operating Officer of IES Holdings, Inc. (NASDAQ:IESC), reported the sale of 7,000 shares of the company's common stock on December 3, according to a recent SEC filing. The shares were sold at prices ranging from $292.38 to $294.62, totaling approximately $2.05 million. The transaction comes as IES Holdings, now valued at $5.87 billion, has delivered remarkable returns with the stock up over 268% year-to-date.
Following these transactions, Simmes retains direct ownership of 115,341 shares. Additionally, 9,837 shares were withheld to cover tax obligations related to the vesting of phantom stock units granted in 2021, valued at $2.91 million at a price of $295.80 per share. According to InvestingPro, the company maintains a GREAT financial health score, with strong profitability and momentum metrics.
This activity provides insight into the executive's current holdings and financial strategies within the company, which trades at a P/E ratio of 29.1 and has demonstrated robust financial performance with a 305% return over the past year.
In other recent news, a consortium led by Mason Capital Management LLC is set to acquire the CB&I storage solutions business from McDermott International, Ltd. This move will establish CB&I as an independent entity with a debt-free balance sheet. This acquisition is anticipated to close in the fourth quarter of 2024, with a new revolving credit facility arranged by Citi to enhance CB&I's competitive edge.
Meanwhile, IES Holdings, Inc. has reported a 31% surge in revenue to $768 million for its third quarter ending June 30, 2024. The company's operating income rose to $90.2 million, a 163% increase from the previous fiscal year, and net income attributable to IES for the quarter was $62.1 million, marking a 175% increase from the prior year's quarter.
In other company developments, IES Holdings announced the appointment of John Louis Fouts to its Board of Directors, alongside the continuation of its share repurchase program with $20.9 million in shares repurchased during the third quarter. However, Elizabeth D. Leykum resigned from the company's Board of Directors, citing other commitments as the reason for her departure. These are among the recent developments at IES Holdings.
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