Assenagon Asset Management S.A. Reduces Stock Holdings in IES Holdings, Inc. $IESC

Key Points

• Assenagon Asset Management S.A. has reduced its holdings in IES Holdings, Inc. by 8.2%, now owning 8,101 shares worth approximately $2.4 million.
• IES Holdings reported earnings per share (EPS) of $3.95 for the last quarter, exceeding analysts' expectations of $3.55.
• Following strong performance, analysts have upgraded IES to a "strong-buy" rating, indicating positive growth prospects.

Assenagon Asset Management S.A. lowered its holdings in IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 8.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,101 shares of the technology company's stock after selling 720 shares during the period. Assenagon Asset Management S.A.'s holdings in IES were worth $2,400,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Fiera Capital Corp purchased a new position in shares of IES in the first quarter valued at $1,448,000. Hedeker Wealth LLC acquired a new stake in IES during the first quarter valued at approximately $727,000. Rhumbline Advisers lifted its holdings in shares of IES by 3.0% during the first quarter. Rhumbline Advisers now owns 12,663 shares of the technology company's stock valued at $2,091,000 after purchasing an additional 366 shares during the last quarter. Millennium Management LLC lifted its position in shares of IES by 650.6% in the fourth quarter. Millennium Management LLC now owns 25,462 shares of the technology company's stock worth $5,117,000 after purchasing an additional 22,070 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in IES by 91.6% during the first quarter. Victory Capital Management Inc. now owns 12,561 shares of the technology company's stock valued at $2,074,000 after acquiring an additional 6,006 shares in the last quarter. Hedge funds and other institutional investors own 86.60% of the company's stock.

IES Stock Down 0.3%

Shares of IESC opened at $380.01 on Friday. The firm has a market capitalization of $7.54 billion, a price-to-earnings ratio of 29.03 and a beta of 1.64. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.65 and a current ratio of 1.85. The business's fifty day moving average price is $350.42 and its two-hundred day moving average price is $274.87. IES Holdings, Inc. has a 52 week low of $146.51 and a 52 week high of $391.97.

IES (NASDAQ:IESC - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The technology company reported $3.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.55 by $0.40. IES had a net margin of 8.15% and a return on equity of 37.23%. The firm had revenue of $890.20 million for the quarter, compared to analysts' expectations of $833.00 million.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised IES from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 16th.

Insider Transactions at IES

In other IES news, Chairman Jeffrey L. Et Al Gendell sold 6,811 shares of the company's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $380.74, for a total transaction of $2,593,220.14. Following the sale, the chairman directly owned 10,769,717 shares of the company's stock, valued at approximately $4,100,462,050.58. This represents a 0.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 145,837 shares of company stock worth $53,984,109 in the last 90 days. Corporate insiders own 56.76% of the company's stock.

About IES

IES Holdings, Inc engages in the design and installation of integrated electrical and technology systems, and provides infrastructure products and services in the United States. The Communications segment designs, installs, and maintains network infrastructure within data centers for co-location and managed hosting customers; corporate, educational, financial, hospitality, and healthcare buildings; e-commerce distribution centers; and high-tech manufacturing facilities.

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