Brant Point Investment Management LLC Purchases 8,817 Shares of IES Holdings, Inc. $IESC

Key Points

• Brant Point Investment Management LLC significantly increased its holdings in IES Holdings, Inc. by purchasing an additional 8,817 shares, bringing their total to 8,890 shares valued at approximately $1.47 million.
• Chairman Jeffrey L. Et Al Gendell sold 1,710 shares of IES stock for over $607,000, reducing his ownership slightly while still holding nearly 10.9 million shares.
• IES reported better-than-expected earnings of $3.95 per share for the quarter, surpassing analyst forecasts and contributing to a market capitalization of $7.06 billion.

Brant Point Investment Management LLC lifted its holdings in IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 12,078.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,890 shares of the technology company's stock after buying an additional 8,817 shares during the quarter. Brant Point Investment Management LLC's holdings in IES were worth $1,468,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in IES by 49.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,452 shares of the technology company's stock valued at $493,000 after purchasing an additional 808 shares in the last quarter. Raymond James Financial Inc. bought a new stake in IES during the 4th quarter valued at about $2,361,000. CANADA LIFE ASSURANCE Co increased its stake in IES by 132.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,754 shares of the technology company's stock valued at $352,000 after purchasing an additional 998 shares in the last quarter. Hsbc Holdings PLC increased its stake in IES by 78.4% during the 4th quarter. Hsbc Holdings PLC now owns 4,934 shares of the technology company's stock valued at $995,000 after purchasing an additional 2,168 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in IES by 20.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,298 shares of the technology company's stock valued at $663,000 after purchasing an additional 570 shares in the last quarter. 86.60% of the stock is owned by hedge funds and other institutional investors.

IES Stock Performance

IESC traded down $13.02 during midday trading on Monday, hitting $349.31. 188,214 shares of the company traded hands, compared to its average volume of 130,744. The company has a quick ratio of 1.65, a current ratio of 1.85 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $6.93 billion, a PE ratio of 26.69 and a beta of 1.64. The company's 50-day moving average is $324.64 and its 200 day moving average is $252.03. IES Holdings, Inc. has a 52 week low of $140.89 and a 52 week high of $370.88.

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other IES news, Chairman Jeffrey L. Et Al Gendell sold 35,852 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $363.10, for a total transaction of $13,017,861.20. Following the completion of the sale, the chairman directly owned 10,856,528 shares of the company's stock, valued at $3,942,005,316.80. This trade represents a 0.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders have sold 98,656 shares of company stock worth $32,263,523. 56.76% of the stock is currently owned by company insiders.

IES 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.