Hsbc Holdings PLC Invests $2.83 Million in IES Holdings, Inc. $IESC

Hsbc Holdings PLC bought a new stake in shares of IES Holdings, Inc. (NASDAQ:IESC) in the 4th quarter, HoldingsChannel.com reports. The fund bought 7,209 shares of the technology company’s stock, valued at approximately $2,826,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in IES by 7.5% in the fourth quarter. Blue Trust Inc. now owns 400 shares of the technology company’s stock valued at $156,000 after buying an additional 28 shares in the last quarter. GAMMA Investing LLC grew its position in shares of IES by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 244 shares of the technology company’s stock valued at $95,000 after acquiring an additional 31 shares during the period. Comerica Bank grew its position in shares of IES by 11.8% during the 4th quarter. Comerica Bank now owns 418 shares of the technology company’s stock valued at $162,000 after acquiring an additional 44 shares during the period. Global Retirement Partners LLC increased its stake in shares of IES by 59.0% in the 4th quarter. Global Retirement Partners LLC now owns 124 shares of the technology company’s stock valued at $48,000 after purchasing an additional 46 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of IES by 1.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,955 shares of the technology company’s stock valued at $1,468,000 after purchasing an additional 51 shares in the last quarter. 86.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at IES

In other IES news, Director Todd M. Cleveland sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $761.89, for a total value of $3,809,450.00. Following the transaction, the director directly owned 60,874 shares of the company’s stock, valued at $46,379,291.86. This trade represents a 7.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $756.47, for a total value of $35,342,278.40. Following the transaction, the chairman owned 10,406,559 shares in the company, valued at approximately $7,872,249,686.73. This represents a 0.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 208,102 shares of company stock valued at $146,518,202. Corporate insiders own 56.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Wall Street Zen lowered IES from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Freedom Capital lowered IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of IES in a research note on Thursday, June 18th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $458.00.

IES Price Performance

Shares of IESC opened at $714.90 on Monday. IES Holdings, Inc. has a 52-week low of $281.35 and a 52-week high of $804.00. The firm’s fifty day moving average is $670.67 and its two-hundred day moving average is $532.99. The stock has a market cap of $14.24 billion, a PE ratio of 38.13 and a beta of 1.78.

IES (NASDAQ:IESC) last issued its earnings results on Friday, May 1st. The technology company reported $4.16 EPS for the quarter, beating 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 net margin of 10.40% and a return on equity of 33.97%.

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.