Principal Financial Group Inc. Has $6.66 Million Stake in IES Holdings, Inc. $IESC

Principal Financial Group Inc. lowered its position in shares of IES Holdings, Inc. (NASDAQ:IESC) by 17.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,977 shares of the technology company’s stock after selling 2,930 shares during the quarter. Principal Financial Group Inc. owned about 0.07% of IES worth $6,660,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of IESC. International Assets Investment Management LLC bought a new stake in shares of IES during the 4th quarter valued at about $38,000. Steward Partners Investment Advisory LLC increased its holdings in IES by 366.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company’s stock worth $38,000 after purchasing an additional 77 shares in the last quarter. Global Retirement Partners LLC lifted its stake in IES by 59.0% in the fourth quarter. Global Retirement Partners LLC now owns 124 shares of the technology company’s stock valued at $48,000 after buying an additional 46 shares during the period. Larson Financial Group LLC lifted its stake in IES by 2,100.0% in the fourth quarter. Larson Financial Group LLC now owns 132 shares of the technology company’s stock valued at $51,000 after buying an additional 126 shares during the period. Finally, Greenline Wealth Management LLC bought a new position in shares of IES during the 4th quarter worth approximately $56,000. 86.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IESC has been the subject of several research analyst reports. Freedom Capital lowered shares of IES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Weiss Ratings reissued a “buy (b)” rating on shares of IES in a research note on Thursday, June 18th. Finally, Wall Street Zen cut shares of IES from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, IES currently has an average rating of “Moderate Buy” and an average price target of $458.00.

Insider Activity

In other news, CFO Tracy Mclauchlin sold 3,000 shares of the business’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 sale, the chief financial officer owned 62,525 shares of the company’s stock, valued at $41,429,690.25. The trade was a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $756.47, for a total transaction of $35,342,278.40. Following the sale, the chairman owned 10,406,559 shares in the company, valued at $7,872,249,686.73. The trade was a 0.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 208,102 shares of company stock valued at $146,518,202 over the last quarter. Company insiders own 56.43% of the company’s stock.

IES Price Performance

IESC opened at $603.23 on Tuesday. IES Holdings, Inc. has a fifty-two week low of $309.51 and a fifty-two week high of $804.00. The company’s 50-day moving average is $679.81 and its 200 day moving average is $566.22. The firm has a market capitalization of $12.02 billion, a P/E ratio of 32.17 and a beta of 1.78.

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