Lazard Asset Management LLC Acquires 6,729 Shares of IES Holdings, Inc. $IESC

Lazard Asset Management LLC boosted its holdings in IES Holdings, Inc. (NASDAQ:IESC) by 164.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,822 shares of the technology company’s stock after buying an additional 6,729 shares during the quarter. Lazard Asset Management LLC owned 0.05% of IES worth $5,156,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of IESC. Parallel Advisors LLC boosted its holdings in shares of IES by 121.4% during the 1st quarter. Parallel Advisors LLC now owns 62 shares of the technology company’s stock valued at $30,000 after acquiring an additional 34 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of IES during the fourth quarter valued at approximately $38,000. Steward Partners Investment Advisory LLC lifted its position in IES by 366.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company’s stock valued at $38,000 after purchasing an additional 77 shares during the period. Global Retirement Partners LLC lifted its position in IES by 59.0% during the fourth 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 during the period. Finally, Larson Financial Group LLC boosted its holdings in IES by 2,100.0% in the fourth quarter. Larson Financial Group LLC now owns 132 shares of the technology company’s stock worth $51,000 after purchasing an additional 126 shares during the last quarter. Institutional investors own 86.60% of the company’s stock.

IES Stock Up 15.2%

Shares of NASDAQ:IESC opened at $571.54 on Friday. The firm’s 50 day moving average price is $673.17 and its 200-day moving average price is $569.44. IES Holdings, Inc. has a twelve month low of $309.51 and a twelve month high of $804.00. The stock has a market capitalization of $11.39 billion, a PE ratio of 30.48 and a beta of 1.78.

IES (NASDAQ:IESC) last posted 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 the consensus estimate of $1.01 billion. IES had a net margin of 10.40% and a return on equity of 33.97%.

Analyst Ratings Changes

A number of research firms have commented on IESC. Freedom Capital downgraded shares of IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Wall Street Zen cut IES from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Finally, Weiss Ratings restated 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 issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $458.00.

Insider Buying and Selling at IES

In other news, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the company’s 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 completion of the sale, the chairman directly owned 10,406,559 shares in the company, valued at $7,872,249,686.73. This represents a 0.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Todd M. Cleveland sold 11,578 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $663.52, for a total value of $7,682,234.56. Following the completion of the transaction, the director directly owned 65,817 shares in the company, valued at approximately $43,670,895.84. This represents a 14.96% 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 three months. Insiders own 56.43% of the company’s stock.

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.