First Trust Advisors LP Buys 100,425 Shares of IES Holdings, Inc. $IESC

First Trust Advisors LP boosted its holdings in IES Holdings, Inc. (NASDAQ:IESC – Free Report) by 40.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 349,163 shares of the technology company’s stock after buying an additional 100,425 shares during the quarter. First Trust Advisors LP owned approximately 1.75% of IES worth $166,366,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in IESC. Northwestern Mutual Wealth Management Co. raised its position in shares of IES by 324,337.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 120,042 shares of the technology company’s stock worth $46,699,000 after acquiring an additional 120,005 shares in the last quarter. Norges Bank acquired a new stake in shares of IES in the 4th quarter worth about $40,578,000. Parsifal Capital Management LP bought a new stake in IES during the third quarter worth $25,768,000. Arrowstreet Capital Limited Partnership lifted its position in shares of IES by 25.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 164,722 shares of the technology company’s stock valued at $64,080,000 after purchasing an additional 33,273 shares in the last quarter. Finally, Raymond James Financial Inc. grew its holdings in shares of IES by 3,965.1% in the third quarter. Raymond James Financial Inc. now owns 31,830 shares of the technology company’s stock valued at $12,657,000 after acquiring an additional 31,047 shares in the last quarter. 86.60% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In other IES news, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $756.47, for a total value of $35,342,278.40. Following the sale, the chairman owned 10,406,559 shares in the company, valued at $7,872,249,686.73. The trade was a 0.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Todd M. Cleveland sold 11,578 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $663.52, for a total transaction of $7,682,234.56. Following the completion of the transaction, the director directly owned 65,817 shares of the company’s stock, valued at approximately $43,670,895.84. This trade represents a 14.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 208,102 shares of company stock valued at $146,518,202. 56.43% of the stock is owned by company insiders.

Analysts Set New Price Targets

IESC has been the topic of a number of recent research reports. Wall Street Zen cut IES from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Weiss Ratings restated a “buy (b)” rating on shares of IES in a research note on Thursday, June 18th. Finally, Freedom Capital lowered IES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $458.00.

Get Our Latest Analysis on IES

IES Stock Performance

Shares of IES stock opened at $674.20 on Thursday. The stock has a market capitalization of $13.43 billion, a PE ratio of 35.96 and a beta of 1.78. IES Holdings, Inc. has a 52-week low of $309.51 and a 52-week high of $804.00. The company has a 50-day simple moving average of $682.62 and a two-hundred day simple moving average of $561.65.

IES (NASDAQ:IESC – Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The technology company reported $4.16 earnings per share for the quarter, beating analysts’ consensus estimates of $3.95 by $0.21. IES had a net margin of 10.40% and a return on equity of 33.97%. The company had revenue of $974.20 million for the quarter, compared to the consensus estimate of $1.01 billion.

About IES

(Free Report)

IES Holdings, Inc (NASDAQ: IESC) is a specialty contractor providing integrated electrical and mechanical construction services, engineering, and systems integration across North America. The company focuses on delivering end-to-end solutions for commercial, industrial and mission-critical facilities, combining design, build, commission and maintenance capabilities to serve a wide range of markets.

Through its subsidiaries, IES offers a comprehensive portfolio of services including electrical distribution and infrastructure, mechanical contracting, process piping, controls and automation, energy management, and ongoing service and maintenance.

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