IES Holdings, Inc. $IESC Holdings Raised by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in IES Holdings, Inc. (NASDAQ:IESC) by 2.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 274,725 shares of the technology company’s stock after acquiring an additional 6,349 shares during the quarter. Geode Capital Management LLC’s holdings in IES were worth $106,887,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Alps Advisors Inc. increased its stake in shares of IES by 60.5% during the 3rd quarter. Alps Advisors Inc. now owns 5,726 shares of the technology company’s stock worth $2,277,000 after purchasing an additional 2,159 shares during the last quarter. AltraVue Capital LLC increased its stake in shares of IES by 2.1% during the 3rd quarter. AltraVue Capital LLC now owns 166,267 shares of the technology company’s stock worth $66,116,000 after purchasing an additional 3,370 shares during the last quarter. RFG Advisory LLC acquired a new position in shares of IES during the 3rd quarter worth $944,000. Dakota Wealth Management acquired a new position in shares of IES during the 4th quarter worth $1,018,000. Finally, First Trust Advisors LP increased its stake in shares of IES by 982.7% during the 3rd quarter. First Trust Advisors LP now owns 323,893 shares of the technology company’s stock worth $128,796,000 after purchasing an additional 293,977 shares during the last quarter. Hedge funds and other institutional investors own 86.60% of the company’s stock.

Insider Activity

In related news, Chairman Jeffrey L. Et Al Gendell sold 40,103 shares of IES stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $677.19, for a total transaction of $27,157,350.57. Following the completion of the transaction, the chairman directly owned 10,547,058 shares of the company’s stock, valued at $7,142,362,207.02. This trade represents a 0.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew J. Simmes sold 7,000 shares of IES stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $658.24, for a total transaction of $4,607,680.00. Following the transaction, the chief executive officer directly owned 86,575 shares of the company’s stock, valued at $56,987,128. This represents a 7.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 156,382 shares of company stock valued at $107,366,474. Company insiders own 56.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on IESC shares. Wall Street Zen downgraded shares of IES from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Freedom Capital downgraded shares of IES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $458.00.

IES Stock Performance

Shares of IES stock opened at $720.72 on Friday. The firm’s 50-day simple moving average is $603.31 and its 200-day simple moving average is $498.25. IES Holdings, Inc. has a twelve month low of $259.30 and a twelve month high of $744.88. The firm has a market cap of $14.36 billion, a P/E ratio of 38.44 and a beta of 1.78.

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

IES 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.