IES Holdings, Inc. $IESC Position Lessened by Vanguard Group Inc.

Key Points

• Vanguard Group trimmed its IES stake by 1.6%, selling 13,992 shares and leaving 853,214 shares (about 4.28% ownership) worth roughly $331.9M.
• Insiders have been net sellers: CEO Matthew J. Simmes sold 7,000 shares for ~$4.61M, and insiders sold 27,659 shares (~$15.24M) over the past 90 days, though insiders still own ~56.43% of the company.
• Q1 results were mixed: IES beat EPS estimates ($4.16 vs. $3.95) but missed revenue expectations ($974.2M vs. $1.01B); the stock trades near its 52‑week high (opened at $665.63) with a market cap of about $13.3B.

Vanguard Group Inc. trimmed its position in shares of IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 853,214 shares of the technology company's stock after selling 13,992 shares during the period. Vanguard Group Inc. owned about 4.28% of IES worth $331,917,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of IESC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of IES by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,904 shares of the technology company's stock worth $810,000 after acquiring an additional 223 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of IES by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,787 shares of the technology company's stock worth $3,762,000 after acquiring an additional 1,435 shares in the last quarter. Prudential Financial Inc. purchased a new stake in shares of IES during the second quarter worth $365,000. Quantbot Technologies LP purchased a new stake in shares of IES during the second quarter worth $89,000. Finally, Invesco Ltd. raised its holdings in shares of IES by 43.7% during the second quarter. Invesco Ltd. now owns 91,567 shares of the technology company's stock worth $27,125,000 after acquiring an additional 27,849 shares in the last quarter. 86.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wall Street Zen upgraded IES from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 2nd. Freedom Capital lowered IES from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Finally, Loop Capital set a $458.00 target price on IES in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $458.00.

Insider Activity

In other news, CEO Matthew J. Simmes sold 7,000 shares of the firm's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $658.24, for a total value of $4,607,680.00. Following the sale, the chief executive officer directly owned 86,575 shares of the company's stock, valued at approximately $56,987,128. This trade represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Jeffrey L. Et Al Gendell sold 320 shares of the firm's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $520.43, for a total value of $166,537.60. Following the completion of the sale, the chairman directly owned 10,587,161 shares in the company, valued at approximately $5,509,876,199.23. This represents a 0.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 27,659 shares of company stock valued at $15,244,620. 56.43% of the stock is owned by insiders.

IES Stock Performance

Shares of NASDAQ:IESC opened at $665.63 on Friday. The company has a market cap of $13.26 billion, a P/E ratio of 35.50 and a beta of 1.81. The stock's 50-day moving average is $511.80 and its 200-day moving average is $456.24. IES Holdings, Inc. has a 52-week low of $235.99 and a 52-week high of $688.51.

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

About IES

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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