Hsbc Holdings PLC Takes $2.83 Million Position in IES Holdings, Inc. $IESC

Key Points

• HSBC Holdings PLC disclosed a new fourth-quarter stake in IES Holdings, buying 7,209 shares worth about $2.83 million.
• Several other institutional investors also changed their positions, and institutions and hedge funds now own 86.60% of IES stock.
• Insider selling has been notable: CFO Tracy Mclauchlin and Chairman Jeffrey L. Et Al Gendell both sold shares, and insiders sold 208,102 shares worth about $146.5 million over the last three months.

Hsbc Holdings PLC purchased a new stake in IES Holdings, Inc. (NASDAQ:IESC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,209 shares of the technology company's stock, valued at approximately $2,826,000.

A number of other large investors have also added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new position in IES during the 4th quarter worth $38,000. Steward Partners Investment Advisory LLC lifted its position in shares of IES by 366.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company's stock valued at $38,000 after acquiring an additional 77 shares during the period. Global Retirement Partners LLC grew its holdings in shares of IES by 59.0% during the 4th quarter. Global Retirement Partners LLC now owns 124 shares of the technology company's stock worth $48,000 after purchasing an additional 46 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of IES by 2,100.0% during the 4th quarter. Larson Financial Group LLC now owns 132 shares of the technology company's stock worth $51,000 after purchasing an additional 126 shares in the last quarter. Finally, Greenline Wealth Management LLC bought a new position in shares of IES in the fourth quarter worth $56,000. Institutional investors and hedge funds own 86.60% of the company's stock.

Insider Activity

In related news, CFO Tracy Mclauchlin sold 3,000 shares of IES stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $662.61, for a total transaction of $1,987,830.00. Following the sale, the chief financial officer directly owned 62,525 shares of the company's stock, valued at approximately $41,429,690.25. The trade was a 4.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the company's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $756.47, for a total transaction of $35,342,278.40. Following the transaction, the chairman owned 10,406,559 shares of the company's stock, valued at approximately $7,872,249,686.73. This represents a 0.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 208,102 shares of company stock worth $146,518,202. Corporate insiders own 56.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on IESC. Freedom Capital downgraded IES from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 5th. Weiss Ratings reiterated a "buy (b)" rating on shares of IES in a research note on Thursday, June 18th. Finally, Wall Street Zen lowered shares of IES from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 10th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $458.00.

IES Stock Performance

IES stock opened at $625.54 on Friday. IES Holdings, Inc. has a 52 week low of $291.55 and a 52 week high of $804.00. The stock has a market capitalization of $12.46 billion, a P/E ratio of 33.36 and a beta of 1.78. The stock has a fifty day moving average of $689.61 and a 200-day moving average of $547.85.

IES (NASDAQ:IESC - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The technology company reported $4.16 earnings per share for the quarter, beating the consensus estimate of $3.95 by $0.21. The business had revenue of $974.20 million for the quarter, compared to analyst estimates of $1.01 billion. IES had a return on equity of 33.97% and a net margin of 10.40%.

IES Company Profile

IES Holdings, Inc NASDAQ: IESC is a specialty contractor providing integrated electrical and mechanical construction services, engineering, and systems integration across North America. The company focuses on delivering end-to-end solutions for commercial, industrial and mission-critical facilities, combining design, build, commission and maintenance capabilities to serve a wide range of markets.

Through its subsidiaries, IES offers a comprehensive portfolio of services including electrical distribution and infrastructure, mechanical contracting, process piping, controls and automation, energy management, and ongoing service and maintenance.

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