IES Holdings, Inc. $IESC Shares Sold by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital reduced its IES Holdings stake by 5.1% in the first quarter, selling 8,329 shares and retaining 156,393 shares valued at approximately $74.5 million. Institutional investors own 86.6% of the company.
• IES reported quarterly EPS of $4.16, beating estimates of $3.95, although revenue of $974.2 million fell short of the $1.01 billion consensus forecast.
• The stock opened at $626.07, while analysts’ average price target is $458 and the consensus rating is “Moderate Buy.” Insiders have sold 208,102 shares worth approximately $146.5 million over the past 90 days.

Arrowstreet Capital Limited Partnership lessened its stake in shares of IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 5.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 156,393 shares of the technology company's stock after selling 8,329 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.78% of IES worth $74,517,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Parallel Advisors LLC raised its position in IES by 121.4% during the first quarter. Parallel Advisors LLC now owns 62 shares of the technology company's stock valued at $30,000 after buying an additional 34 shares during the period. International Assets Investment Management LLC purchased a new stake in IES in the 4th quarter worth about $38,000. Steward Partners Investment Advisory LLC boosted its position in IES by 366.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company's stock worth $38,000 after acquiring an additional 77 shares during the period. Global Retirement Partners LLC boosted its position in 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 acquiring an additional 46 shares during the period. Finally, Larson Financial Group LLC grew its stake in IES by 2,100.0% during the 4th quarter. Larson Financial Group LLC now owns 132 shares of the technology company's stock valued at $51,000 after acquiring an additional 126 shares in the last quarter. 86.60% of the stock is owned by institutional investors.

IES Price Performance

Shares of IESC opened at $626.07 on Monday. The company has a market capitalization of $12.47 billion, a PE ratio of 33.39 and a beta of 1.78. IES Holdings, Inc. has a one year low of $309.51 and a one year high of $804.00. The company's fifty day moving average price is $680.83 and its 200 day moving average price is $564.88.

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

Analysts Set New Price Targets

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

Insider Buying and Selling at IES

In other news, CFO Tracy Mclauchlin sold 3,000 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $662.61, for a total transaction of $1,987,830.00. Following the sale, the chief financial officer owned 62,525 shares in the company, valued at approximately $41,429,690.25. This represents a 4.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Todd M. Cleveland sold 5,000 shares of the firm's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $761.89, for a total transaction of $3,809,450.00. Following the completion of the sale, the director owned 60,874 shares of the company's stock, valued at $46,379,291.86. The trade was a 7.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 208,102 shares of company stock valued at $146,518,202. 56.43% of the stock is currently owned by corporate insiders.

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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