IES Holdings, Inc. $IESC Shares Sold by JPMorgan Chase & Co.

Key Points

• JPMorgan reduced its stake in IES by 10.3% in Q3, selling 2,917 shares and leaving it with 25,497 shares valued at about $10.14 million (0.13% of the company).
• Significant insider selling: insiders have sold 20,659 shares worth $10.64 million in the last three months, including Chairman Jeffrey Gendell (5,048 shares at $529.50) and CEO Matthew Simmes (5,000 shares at $506.26), though insiders still own 56.43% of the company.
• Recent results and market position: IES missed quarterly EPS ($3.71 vs. $3.94 est.) and revenue ($870.96M vs. $876.0M), with the stock trading around $473.86, a market cap of $9.44 billion, and an average analyst price target of $458 (consensus rating: Buy).

JPMorgan Chase & Co. lowered its position in shares of IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 10.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,497 shares of the technology company's stock after selling 2,917 shares during the quarter. JPMorgan Chase & Co. owned 0.13% of IES worth $10,139,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC boosted its position in shares of IES by 1,014.3% during the 3rd quarter. Global Retirement Partners LLC now owns 78 shares of the technology company's stock valued at $31,000 after purchasing an additional 71 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of IES by 157.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 98 shares of the technology company's stock worth $39,000 after purchasing an additional 60 shares in the last quarter. Spire Wealth Management acquired a new stake in IES during the third quarter valued at approximately $40,000. Elevation Point Wealth Partners LLC acquired a new stake in IES during the second quarter valued at approximately $47,000. Finally, Federated Hermes Inc. boosted its holdings in IES by 91.3% during the third quarter. Federated Hermes Inc. now owns 132 shares of the technology company's stock worth $52,000 after buying an additional 63 shares in the last quarter. 86.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other IES news, Chairman Jeffrey L. Et Al Gendell sold 5,048 shares of the business's stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $529.50, for a total transaction of $2,672,916.00. Following the sale, the chairman directly owned 10,590,272 shares of the company's stock, valued at $5,607,549,024. The trade was a 0.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew J. Simmes sold 5,000 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $506.26, for a total value of $2,531,300.00. Following the completion of the sale, the chief executive officer owned 93,575 shares of the company's stock, valued at $47,373,279.50. The trade was a 5.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 20,659 shares of company stock worth $10,636,940. Corporate insiders own 56.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IESC. Loop Capital set a $458.00 price target on shares of IES in a research report on Tuesday, February 3rd. Weiss Ratings reissued a "buy (b)" rating on shares of IES in a research note on Monday, December 22nd. Finally, Wall Street Zen cut IES from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 7th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $458.00.

IES Price Performance

Shares of IESC opened at $473.86 on Friday. The company has a 50-day moving average of $469.43 and a two-hundred day moving average of $424.33. The stock has a market cap of $9.44 billion, a price-to-earnings ratio of 28.19 and a beta of 1.68. IES Holdings, Inc. has a one year low of $146.51 and a one year high of $537.70.

IES (NASDAQ:IESC - Get Free Report) last released its quarterly earnings results on Friday, January 30th. The technology company reported $3.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.94 by ($0.23). The firm had revenue of $870.96 million for the quarter, compared to analyst estimates of $876.00 million. IES had a net margin of 9.70% and a return on equity of 35.62%.

IES 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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