Bank of America Corp DE Reduces Stake in IES Holdings, Inc. (NASDAQ:IESC)

Bank of America Corp DE lessened its holdings in IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 15.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,806 shares of the technology company's stock after selling 1,619 shares during the period. Bank of America Corp DE's holdings in IES were worth $1,770,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Allspring Global Investments Holdings LLC increased its holdings in IES by 1,856.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,070 shares of the technology company's stock worth $818,000 after purchasing an additional 3,862 shares during the period. Barclays PLC increased its holdings in IES by 411.1% during the 3rd quarter. Barclays PLC now owns 15,176 shares of the technology company's stock worth $3,029,000 after purchasing an additional 12,207 shares during the period. Convergence Investment Partners LLC increased its holdings in IES by 26.4% during the 4th quarter. Convergence Investment Partners LLC now owns 7,010 shares of the technology company's stock worth $1,409,000 after purchasing an additional 1,463 shares during the period. Raymond James Financial Inc. purchased a new stake in IES during the 4th quarter worth about $2,361,000. Finally, Navellier & Associates Inc. boosted its position in shares of IES by 70.9% during the 4th quarter. Navellier & Associates Inc. now owns 5,190 shares of the technology company's stock worth $1,043,000 after acquiring an additional 2,153 shares in the last quarter. Institutional investors and hedge funds own 86.60% of the company's stock.

IES Trading Up 0.3%

Shares of NASDAQ IESC traded up $0.85 during trading hours on Thursday, reaching $270.80. The stock had a trading volume of 123,801 shares, compared to its average volume of 175,496. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 25.21 and a beta of 1.57. IES Holdings, Inc. has a fifty-two week low of $124.55 and a fifty-two week high of $320.09. The firm has a 50-day moving average of $216.70 and a 200-day moving average of $221.66.

IES (NASDAQ:IESC - Get Free Report) last announced its earnings results on Friday, May 2nd. The technology company reported $3.30 earnings per share (EPS) for the quarter. The firm had revenue of $834.00 million during the quarter. IES had a return on equity of 35.81% and a net margin of 7.30%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut IES from a "buy" rating to a "hold" rating in a research report on Friday, March 14th.

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.