Connor Clark & Lunn Investment Management Ltd. Sells 2,946 Shares of IES Holdings, Inc. $IESC

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its holdings in IES Holdings, Inc. by 57.9% in the first quarter, selling 2,946 shares and leaving them with 2,146 shares valued at approximately $354,000.
• IES Holdings received an upgrade from "buy" to "strong-buy" by Wall Street Zen, signaling increased confidence in the company's stock performance.
• The company reported earnings of $3.95 per share, exceeding analysts' estimates, and generated revenue of $890.20 million for the quarter.

Connor Clark & Lunn Investment Management Ltd. lowered its stake in IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 57.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,146 shares of the technology company's stock after selling 2,946 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in IES were worth $354,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC bought a new stake in IES in the first quarter worth $36,000. Comerica Bank increased its holdings in shares of IES by 44.9% during the fourth quarter. Comerica Bank now owns 507 shares of the technology company's stock valued at $102,000 after acquiring an additional 157 shares in the last quarter. Contravisory Investment Management Inc. increased its holdings in shares of IES by 162.5% during the first quarter. Contravisory Investment Management Inc. now owns 882 shares of the technology company's stock valued at $146,000 after acquiring an additional 546 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of IES by 6.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 861 shares of the technology company's stock valued at $173,000 after acquiring an additional 53 shares in the last quarter. Finally, City State Bank increased its holdings in shares of IES by 127.6% during the first quarter. City State Bank now owns 1,195 shares of the technology company's stock valued at $197,000 after acquiring an additional 670 shares in the last quarter. Institutional investors own 86.60% of the company's stock.

Wall Street Analyst Weigh In

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

IES Stock Performance

Shares of IES stock traded up $12.86 during trading on Monday, hitting $353.97. 165,388 shares of the company's stock traded hands, compared to its average volume of 130,529. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.85 and a quick ratio of 1.65. IES Holdings, Inc. has a 1 year low of $140.89 and a 1 year high of $370.88. The stock has a market capitalization of $7.03 billion, a P/E ratio of 27.04 and a beta of 1.67. The business has a 50-day simple moving average of $318.01 and a 200-day simple moving average of $248.26.

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

Insider Activity at IES

In related news, Chairman Jeffrey L. Et Al Gendell sold 1,710 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $355.45, for a total transaction of $607,819.50. Following the sale, the chairman directly owned 10,913,844 shares of the company's stock, valued at $3,879,325,849.80. This trade represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 41,340 shares of company stock worth $11,522,915 over the last 90 days. Company insiders own 56.76% of the company's stock.

About IES

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.