Convergence Investment Partners LLC bought a new position in shares of IES Holdings, Inc. (NASDAQ:IESC – Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,681 shares of the technology company’s stock, valued at approximately $1,432,000.
Several other institutional investors and hedge funds have also made changes to their positions in IESC. International Assets Investment Management LLC acquired a new position in shares of IES during the 4th quarter worth approximately $38,000. SBI Securities Co. Ltd. boosted its holdings in shares of IES by 157.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 98 shares of the technology company’s stock worth $39,000 after purchasing an additional 60 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of IES by 91.3% during the 3rd quarter. Federated Hermes Inc. now owns 132 shares of the technology company’s stock worth $52,000 after purchasing an additional 63 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of IES by 77.1% during the 3rd quarter. IFP Advisors Inc now owns 147 shares of the technology company’s stock worth $58,000 after purchasing an additional 64 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of IES by 255.0% during the 3rd quarter. US Bancorp DE now owns 213 shares of the technology company’s stock worth $85,000 after purchasing an additional 153 shares during the last quarter. 86.60% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on IESC. Loop Capital set a $458.00 target price on IES in a report on Tuesday, February 3rd. Freedom Capital cut IES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, Wall Street Zen cut IES from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $458.00.
IES Stock Performance
IESC opened at $682.20 on Friday. IES Holdings, Inc. has a one year low of $235.99 and a one year high of $700.20. The stock has a market capitalization of $13.60 billion, a PE ratio of 36.38 and a beta of 1.81. The business’s 50 day moving average price is $533.83 and its 200 day moving average price is $467.93.
IES (NASDAQ:IESC – Get Free Report) last released its quarterly earnings data on Friday, May 1st. The technology company reported $4.16 EPS for the quarter, beating analysts’ consensus estimates of $3.95 by $0.21. IES had a return on equity of 33.97% and a net margin of 10.40%.The firm had revenue of $974.20 million for the quarter, compared to analysts’ expectations of $1.01 billion.
Insiders Place Their Bets
In related news, Chairman Jeffrey L. Et Al Gendell sold 40,103 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $677.19, for a total value of $27,157,350.57. Following the transaction, the chairman directly owned 10,547,058 shares in the company, valued at approximately $7,142,362,207.02. This represents a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Tracy Mclauchlin sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $662.61, for a total value of $1,987,830.00. Following the completion of the transaction, the chief financial officer owned 62,525 shares in the company, valued at $41,429,690.25. This represents a 4.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 136,837 shares of company stock valued at $91,038,975. Insiders own 56.43% of the company’s stock.
IES Company Profile
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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