IES Holdings executive sells more than $23M worth of stock via Investing.com

IES Holdings, Inc. (NASDAQ:IESC) reported a series of transactions involving the sale of shares of the company by Jeffrey L. Gendell, CEO and a significant shareholder, as well as several related entities. The sales, which took place between September 12 and 16, 2024, totaled more than $23.9 million.

Shares were sold at prices ranging from $157.82 to $163.30, according to the report. On September 12, a total of 31,106 shares were sold at an average price of $157.82, with the transactions taking place between $157.50 and $158.00. In the same day, another 12,372 shares were sold at an average of $158.69, with prices ranging from $158.50 to $159.49. Additionally, 4,383 shares were sold at an average price of $160.50, with a price range of $160.50 to $160.61.

Trading continued on September 13th, with 33,152 shares sold at an average price of $158.77, with a range of $158.50 to $159.25. Other sales on the day included 8,987 shares at an average of $159.50, with prices ranging from $159.50 to $160.00, and 11,166 shares at an average of $161.19, with a range of 161 $.00 and $161.47. Additionally, 1,487 shares were sold at an average price of $163.30, with transactions ranging from $163.14 to $163.46.

On September 16, sales ended with 32,378 shares sold at a flat rate of $160.00 and 4,969 shares sold at $161.53 each.

These transactions were executed indirectly through several entities, including Tontine Capital Partners LP, Tontine Capital Management LLC, Tontine Management LLC, Tontine Capital Overseas Master Fund II, LP, Tontine Asset Associates, LLC, Tontine Associates, LLC and Tontine Capital Overseas GP , LLC, all of which are affiliated with Mr. Gendell. Footnotes in the report clarify the relationship between these entities and Mr. Gendell, as well as the indirect nature of the ownership.

Investors and market watchers often watch insider trading because it can provide valuable insight into the company’s performance and the confidence executives have in the company’s future prospects.

In other recent news, IES Holdings, Inc. reported significant financial growth for the third quarter ended June 30, 2024. The company’s revenue rose 31% to $768 million, while operating income rose to $90.2 million, a 163% increase from of the previous fiscal year. Net income attributable to IES for the quarter was $62.1 million, marking a 175% increase over the prior-year quarter. Moreover, the company’s stock, which indicates the continued growth trajectory, was around $1.7 billion.

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 share repurchase program of $200 million after the end of the quarter.

In other developments, Elizabeth D. Leykum has resigned from the IES Holdings Board of Directors. The decision was not due to disagreements with the company regarding its operations, policies or practices. These are the recent developments in the company.

InvestingPro Insights

IES Holdings, Inc. (NASDAQ:IESC) has been making headlines for insider trading, but what does the bigger financial picture look like for the company? According to InvestingPro data, IES Holdings currently trades at a P/E ratio of 18.55, which is adjusted to 18.04 for the trailing twelve months ending in Q3 2024. This ratio suggests that the company is trading at a low price relative to its almost -term earnings growth, which could indicate an attractive valuation for investors given the company’s recent performance.

InvestingPro Tips points out that IES Holdings posted a significant return over the past week with a total price return of 11.12%, reflecting a strong short-term performance. Additionally, the company has maintained a high yield over the past year with a total price return of 137.56%, signaling robust growth for shareholders over the longer term. Furthermore, with liquid assets exceeding short-term liabilities, IES Holdings appears to be in a good position to meet its immediate financial commitments.

For investors seeking a more detailed analysis, InvestingPro offers additional advice on IES Holdings, providing deeper insights into the company’s financial health and market performance. There are currently 12 additional InvestingPro tips available for IES Holdings at https://www.investing.com/pro/IESC that can further guide investment decisions.

The company’s strong yield figures and solid financial position are key points of interest for those monitoring insider trading and considering the implications for IES Holdings’ future prospects. As always, investors are encouraged to examine comprehensive data and trends to make informed decisions.

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