Connor Clark & Lunn Investment Management Ltd. Reduces Stock Holdings in 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 position in IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 57.9% during the first quarter, according to the company in 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 SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Trust Corp grew its position in shares of IES by 1.2% in the 4th quarter. Northern Trust Corp now owns 84,702 shares of the technology company's stock worth $17,022,000 after buying an additional 983 shares during the last quarter. LPL Financial LLC grew its position in shares of IES by 6.1% in the 1st quarter. LPL Financial LLC now owns 49,264 shares of the technology company's stock worth $8,134,000 after buying an additional 2,838 shares during the last quarter. Man Group plc purchased a new position in shares of IES in the 4th quarter worth approximately $8,497,000. GAMMA Investing LLC grew its position in shares of IES by 17,886.4% in the 1st quarter. GAMMA Investing LLC now owns 42,268 shares of the technology company's stock worth $69,790,000 after buying an additional 42,033 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of IES by 36.8% in the 4th quarter. Nuveen Asset Management LLC now owns 35,315 shares of the technology company's stock worth $7,097,000 after buying an additional 9,491 shares during the last quarter. Hedge funds and other institutional investors own 86.60% of the company's stock.

Analysts Set New Price Targets

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

IES Stock Performance

NASDAQ:IESC traded up $13.38 during trading hours on Friday, hitting $341.11. 119,273 shares of the company were exchanged, compared to its average volume of 133,993. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 26.06 and a beta of 1.67. IES Holdings, Inc. has a 52-week low of $140.89 and a 52-week high of $370.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.85 and a quick ratio of 1.65. The company's 50 day moving average price is $316.34 and its 200-day moving average price is $247.36.

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

Insiders Place Their Bets

In other news, Chairman Jeffrey L. Et Al Gendell sold 1,710 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $355.45, for a total value 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 represents a 0.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 41,340 shares of company stock worth $11,522,915. 56.76% of the stock is currently owned by insiders.

IES Company 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.