Congress Asset Management Co. Makes New Investment in IES Holdings, Inc. $IESC

Key Points

• Congress Asset Management Co. purchased a new stake in IES Holdings, acquiring 34,652 shares valued at approximately $10.27 million, bringing their total ownership to 0.17% of the company.
• IES Holdings reported a strong quarterly earnings outcome, with earnings per share (EPS) of $3.95, exceeding estimates by $0.40, and revenue of $890.20 million, surpassing analyst expectations of $833 million.
• Chairman Jeffrey L. Et Al Gendell sold 55,500 shares of IES stock valued at over $20.75 million, which reduced his ownership stake in the company.

Congress Asset Management Co. bought a new stake in shares of IES Holdings, Inc. (NASDAQ:IESC - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 34,652 shares of the technology company's stock, valued at approximately $10,265,000. Congress Asset Management Co. owned approximately 0.17% of IES at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of IESC. Opal Wealth Advisors LLC purchased a new position in shares of IES during the 2nd quarter worth approximately $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of IES during the first quarter valued at approximately $36,000. Contravisory Investment Management Inc. grew its stake in IES by 162.5% in the first quarter. Contravisory Investment Management Inc. now owns 882 shares of the technology company's stock worth $146,000 after purchasing an additional 546 shares during the period. Farther Finance Advisors LLC grew its stake in IES by 54,800.0% in the second quarter. Farther Finance Advisors LLC now owns 549 shares of the technology company's stock worth $163,000 after purchasing an additional 548 shares during the period. Finally, City State Bank raised its holdings in IES by 127.6% in the first quarter. City State Bank now owns 1,195 shares of the technology company's stock worth $197,000 after purchasing an additional 670 shares in the last quarter. 86.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

IES Price Performance

Shares of NASDAQ:IESC opened at $392.85 on Friday. The company has a market capitalization of $7.80 billion, a P/E ratio of 30.01 and a beta of 1.64. IES Holdings, Inc. has a 1-year low of $146.51 and a 1-year high of $398.75. The firm's 50 day simple moving average is $351.74 and its two-hundred day simple moving average is $276.41. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.85 and a quick ratio of 1.65.

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. The business had revenue of $890.20 million during 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%.

Insider Transactions at IES

In other IES news, Chairman Jeffrey L. Et Al Gendell sold 55,500 shares of the company's stock in a transaction dated 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 directly owned 10,801,028 shares in the company, valued at $4,038,720,389.76. This represents a 0.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 145,837 shares of company stock worth $53,984,109. 56.76% of the stock is owned by insiders.

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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