Ausbil Investment Management Ltd Acquires Shares of 2,386 IES Holdings, Inc. $IESC

Key Points

• Ausbil Investment Management Ltd has acquired a new stake in IES Holdings, Inc., purchasing 2,386 shares valued at around $707,000 during the second quarter.
• Wall Street analysts have elevated IES Holdings from a "buy" to a "strong-buy" rating, indicating increased confidence in the company's performance.
• Insider trading activity includes Chairman Jeffrey L. Et Al Gendell selling 55,500 shares for over $20 million, reducing his ownership percentage in the company.

Ausbil Investment Management Ltd acquired a new stake in IES Holdings, Inc. (NASDAQ:IESC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,386 shares of the technology company's stock, valued at approximately $707,000.

A number of other hedge funds have also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in shares of IES during the 2nd quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of IES during the 1st quarter valued at about $36,000. Farther Finance Advisors LLC boosted its stake in shares of IES by 54,800.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 549 shares of the technology company's stock valued at $163,000 after purchasing an additional 548 shares in the last quarter. ORG Partners LLC bought a new stake in shares of IES during the 2nd quarter valued at about $207,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of IES during the 2nd quarter valued at about $259,000. Hedge funds and other institutional investors own 86.60% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, Chairman Jeffrey L. Et Al Gendell sold 55,500 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $373.92, for a total value of $20,752,560.00. Following the transaction, the chairman owned 10,801,028 shares in the company, valued at approximately $4,038,720,389.76. This represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 145,837 shares of company stock valued at $53,984,109 in the last 90 days. Corporate insiders own 56.76% of the company's stock.

IES Trading Up 3.4%

NASDAQ:IESC opened at $392.85 on Friday. IES Holdings, Inc. has a one year low of $146.51 and a one year high of $398.75. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.85 and a quick ratio of 1.65. The company's 50-day simple moving average is $351.74 and its 200 day simple moving average is $277.09. The firm has a market capitalization of $7.80 billion, a P/E ratio of 30.01 and a beta of 1.64.

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

IES Company Profile

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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