Bank of New York Mellon Corp Has $4.20 Million Holdings in IES Holdings, Inc. (NASDAQ:IESC)

Key Points

• Bank of New York Mellon Corp increased its stake in IES Holdings, Inc. by 9.8% during the first quarter, now holding 25,428 shares valued at approximately $4.2 million.
• Wall Street analysts upgraded IES from a "buy" to a "strong-buy" rating, reflecting positive market sentiment about the company's future.
• IES Holdings reported earnings of $3.30 per share with revenues of $834 million, showcasing a net margin of 7.76% and a return on equity of 36.49% in its latest quarterly results.

Bank of New York Mellon Corp grew its holdings in IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 9.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,428 shares of the technology company's stock after acquiring an additional 2,273 shares during the period. Bank of New York Mellon Corp owned about 0.13% of IES worth $4,198,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Millennium Management LLC grew its holdings in IES by 650.6% during the 4th quarter. Millennium Management LLC now owns 25,462 shares of the technology company's stock worth $5,117,000 after acquiring an additional 22,070 shares in the last quarter. Rhumbline Advisers raised its position in shares of IES by 3.0% during the 1st quarter. Rhumbline Advisers now owns 12,663 shares of the technology company's stock worth $2,091,000 after buying an additional 366 shares in the last quarter. Barclays PLC increased its position in shares of IES by 14.0% during the 4th quarter. Barclays PLC now owns 17,303 shares of the technology company's stock valued at $3,477,000 after purchasing an additional 2,127 shares during the period. Raymond James Financial Inc. bought a new stake in shares of IES in the 4th quarter worth approximately $2,361,000. Finally, Nuveen Asset Management LLC raised its holdings in shares of IES by 36.8% in the 4th quarter. Nuveen Asset Management LLC now owns 35,315 shares of the technology company's stock worth $7,097,000 after purchasing an additional 9,491 shares in the last quarter. 86.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other IES news, CEO Jeffrey L. Et Al Gendell sold 5,764 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $273.59, for a total transaction of $1,576,972.76. Following the sale, the chief executive officer owned 10,917,554 shares of the company's stock, valued at $2,986,933,598.86. This represents a 0.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 39,630 shares of company stock worth $10,915,095. Company insiders own 56.76% 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 report on Saturday.

IES Stock Up 0.5%

IESC stock traded up $1.83 during trading hours on Tuesday, hitting $353.75. The company's stock had a trading volume of 14,025 shares, compared to its average volume of 190,619. The stock has a 50 day moving average price of $286.85 and a two-hundred day moving average price of $235.00. IES Holdings, Inc. has a 12 month low of $129.16 and a 12 month high of $370.88. The company has a market capitalization of $7.02 billion, a PE ratio of 29.62 and a beta of 1.63.

IES (NASDAQ:IESC - Get Free Report) last released its earnings results on Friday, May 2nd. The technology company reported $3.30 EPS for the quarter. IES had a net margin of 7.76% and a return on equity of 36.49%. The firm had revenue of $834.00 million during the quarter.

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.