Gabelli Funds LLC Acquires 9,700 Shares of IES Holdings, Inc. $IESC

Key Points

• Gabelli Funds LLC significantly increased its ownership of IES Holdings, Inc. by 970% in Q1, amassing a stake valued at $1.77 million.
• Insider trading activity revealed that Chairman Jeffrey L. Et Al Gendell sold 35,852 shares for over $13 million, decreasing his ownership by 0.33%.
• IES Holdings reported better-than-expected quarterly earnings, with an EPS of $3.95 surpassing analyst estimates, and revenue of $890.2 million.

Gabelli Funds LLC boosted its position in shares of IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 970.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,700 shares of the technology company's stock after purchasing an additional 9,700 shares during the period. Gabelli Funds LLC owned 0.05% of IES worth $1,767,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Lord Abbett & CO. LLC acquired a new position in IES during the first quarter valued at $16,853,000. Man Group plc acquired a new position in shares of IES in the 4th quarter valued at about $8,497,000. GAMMA Investing LLC lifted its position in shares of IES by 17,886.4% in the first quarter. GAMMA Investing LLC now owns 42,268 shares of the technology company's stock worth $69,790,000 after purchasing an additional 42,033 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in IES during the fourth quarter valued at approximately $7,075,000. Finally, Fundsmith Investment Services LTD. acquired a new position in IES in the 4th quarter valued at approximately $6,712,000. Hedge funds and other institutional investors own 86.60% of the company's stock.

Analyst Upgrades and Downgrades

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.

IES Stock Down 1.9%

IESC stock traded down $6.74 during mid-day trading on Wednesday, hitting $341.01. The stock had a trading volume of 50,308 shares, compared to its average volume of 181,965. The company has a current ratio of 1.85, a quick ratio of 1.65 and a debt-to-equity ratio of 0.03. IES Holdings, Inc. has a 1-year low of $140.89 and a 1-year high of $370.88. The company has a fifty day moving average of $327.13 and a 200 day moving average of $253.54. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 26.01 and a beta of 1.64.

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

Insider Buying and Selling at IES

In other news, Chairman Jeffrey L. Et Al Gendell sold 35,852 shares of the firm's stock in a transaction 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 transaction, the chairman owned 10,856,528 shares in the company, valued at approximately $3,942,005,316.80. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have sold 64,790 shares of company stock worth $22,925,401. 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.