Ascentis Independent Advisors Has $956,000 Stake in IES Holdings, Inc. $IESC

Ascentis Independent Advisors lifted its position in shares of IES Holdings, Inc. (NASDAQ:IESC) by 95.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,006 shares of the technology company’s stock after purchasing an additional 981 shares during the quarter. Ascentis Independent Advisors’ holdings in IES were worth $956,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in IES by 324,337.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 120,042 shares of the technology company’s stock valued at $46,699,000 after buying an additional 120,005 shares during the period. Norges Bank acquired a new stake in IES during the 4th quarter worth about $40,578,000. Parsifal Capital Management LP bought a new position in shares of IES in the 3rd quarter worth about $25,768,000. Arrowstreet Capital Limited Partnership raised its position in shares of IES by 25.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 164,722 shares of the technology company’s stock worth $64,080,000 after acquiring an additional 33,273 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its stake in shares of IES by 3,965.1% in the 3rd quarter. Raymond James Financial Inc. now owns 31,830 shares of the technology company’s stock valued at $12,657,000 after purchasing an additional 31,047 shares during the period. Institutional investors own 86.60% of the company’s stock.

Analysts Set New Price Targets

IESC has been the topic of several research analyst reports. Wall Street Zen lowered IES from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of IES in a report 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 given a Hold rating to the company’s stock. Based on data from MarketBeat.com, IES has a consensus rating of “Moderate Buy” and an average target price of $458.00.

Insider Buying and Selling at IES

In related news, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the stock in a transaction 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 directly owned 10,406,559 shares in the company, valued at $7,872,249,686.73. This trade represents a 0.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Todd M. Cleveland sold 5,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $761.89, for a total transaction of $3,809,450.00. Following the sale, the director 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 SEC filing for this sale provides additional information. Over the last quarter, insiders sold 208,102 shares of company stock valued at $146,518,202. Company insiders own 56.43% of the company’s stock.

IES Trading Down 9.1%

IESC opened at $609.47 on Wednesday. IES Holdings, Inc. has a 1-year low of $291.00 and a 1-year high of $804.00. The company has a market cap of $12.14 billion, a P/E ratio of 32.51 and a beta of 1.78. The company has a fifty day moving average price of $687.45 and a two-hundred day moving average price of $544.15.

IES (NASDAQ:IESC) last released its quarterly earnings data 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 company had revenue of $974.20 million for 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.