United Capital Management of KS Inc. cut its stake in IES Holdings, Inc. (NASDAQ:IESC – Free Report) by 2.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 45,273 shares of the technology company’s stock after selling 1,231 shares during the quarter. IES comprises approximately 2.5% of United Capital Management of KS Inc.’s investment portfolio, making the stock its 10th biggest position. United Capital Management of KS Inc.’s holdings in IES were worth $17,612,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in IES in the 4th quarter valued at $38,000. Steward Partners Investment Advisory LLC lifted its position in shares of IES by 366.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company’s stock worth $38,000 after buying an additional 77 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of IES by 59.0% during the 4th quarter. Global Retirement Partners LLC now owns 124 shares of the technology company’s stock worth $48,000 after buying an additional 46 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of IES by 2,100.0% during the 4th quarter. Larson Financial Group LLC now owns 132 shares of the technology company’s stock worth $51,000 after buying an additional 126 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in IES by 77.1% in the third quarter. IFP Advisors Inc now owns 147 shares of the technology company’s stock valued at $58,000 after buying an additional 64 shares in the last quarter. 86.60% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
IESC has been the topic of several research analyst reports. Freedom Capital lowered IES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Wall Street Zen lowered IES from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $458.00.
IES Stock Up 2.5%
Shares of IESC opened at $749.83 on Friday. IES Holdings, Inc. has a 12-month low of $261.11 and a 12-month high of $768.00. The business has a 50-day simple moving average of $628.83 and a two-hundred day simple moving average of $510.86. The stock has a market cap of $14.94 billion, a PE ratio of 39.99 and a beta of 1.78.
IES (NASDAQ:IESC – Get Free Report) last issued its earnings results on Friday, May 1st. The technology company reported $4.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.95 by $0.21. The business had revenue of $974.20 million during the quarter, compared to analysts’ expectations of $1.01 billion. IES had a return on equity of 33.97% and a net margin of 10.40%.
Insider Buying and Selling
In other news, CEO Matthew J. Simmes sold 7,000 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $658.24, for a total value of $4,607,680.00. Following the completion of the sale, the chief executive officer owned 86,575 shares of the company’s stock, valued at approximately $56,987,128. This represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Tracy Mclauchlin sold 3,000 shares of the stock in a transaction dated 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 sale, the chief financial officer directly owned 62,525 shares of the company’s stock, valued at approximately $41,429,690.25. The trade was a 4.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 156,382 shares of company stock worth $107,366,474. Corporate insiders own 56.43% of the company’s stock.
About IES
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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