Ieq Capital LLC Acquires 1,161 Shares of IES Holdings, Inc. $IESC

Key Points

• Ieq Capital LLC increased its stake in IES Holdings, Inc. by 112.5% during the first quarter, owning 2,193 shares valued at approximately $362,000.
• IES Holdings reported quarterly earnings with an EPS of $3.95, surpassing estimates by $0.40, and achieved revenues of $890.20 million, exceeding analyst estimates.
• Wall Street analysts upgraded IES Holdings from a "buy" rating to a "strong-buy" rating, indicating increased confidence in the company's growth prospects.

Ieq Capital LLC lifted its stake in shares of IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 112.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,193 shares of the technology company's stock after buying an additional 1,161 shares during the quarter. Ieq Capital LLC's holdings in IES were worth $362,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of IESC. Fiera Capital Corp bought a new position in IES in the 1st quarter valued at about $1,448,000. Hedeker Wealth LLC purchased a new position in IES during the 1st quarter worth $727,000. Millennium Management LLC boosted its holdings in IES by 650.6% during the 4th quarter. Millennium Management LLC now owns 25,462 shares of the technology company's stock worth $5,117,000 after acquiring an additional 22,070 shares during the last quarter. Rhumbline Advisers boosted its holdings in IES by 3.0% during the 1st quarter. Rhumbline Advisers now owns 12,663 shares of the technology company's stock worth $2,091,000 after acquiring an additional 366 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of IES by 91.6% during the first quarter. Victory Capital Management Inc. now owns 12,561 shares of the technology company's stock valued at $2,074,000 after acquiring an additional 6,006 shares during the last quarter. Institutional investors and hedge funds own 86.60% of the company's stock.

Analysts Set New Price Targets

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

IES Stock Performance

IES stock traded up $11.24 during mid-day trading on Monday, reaching $360.88. The company's stock had a trading volume of 103,726 shares, compared to its average volume of 115,814. IES Holdings, Inc. has a 12-month low of $143.93 and a 12-month high of $370.88. The company has a market capitalization of $7.16 billion, a P/E ratio of 27.57 and a beta of 1.64. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.65 and a current ratio of 1.85. The firm's fifty day moving average price is $332.26 and its two-hundred day moving average price is $257.84.

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, topping the consensus estimate of $3.55 by $0.40. IES had a net margin of 8.15% and a return on equity of 37.23%. The business had revenue of $890.20 million for the quarter, compared to analysts' expectations of $833.00 million.

Insider Transactions at IES

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 value of $13,017,861.20. Following the sale, the chairman directly owned 10,856,528 shares in the company, valued at $3,942,005,316.80. This represents a 0.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 64,790 shares of company stock valued at $22,925,401. Corporate insiders own 56.76% of the company's stock.

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.