IES Holdings, Inc. $IESC Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its holdings in IES Holdings, Inc. by 3.1%, retaining 82,108 shares valued at approximately $13.6 million at the end of the first quarter.
• IES Holdings reported $3.95 earnings per share for the last quarter, exceeding analyst estimates, and generated $890.2 million in revenue.
• The company's stock was upgraded from a "buy" to a "strong-buy" rating by Wall Street Zen on August 16th.

Northern Trust Corp trimmed its position in IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 3.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 82,108 shares of the technology company's stock after selling 2,594 shares during the period. Northern Trust Corp owned 0.41% of IES worth $13,557,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Catalyst Capital Advisors LLC acquired a new position in IES in the first quarter worth about $36,000. Comerica Bank boosted its stake in IES by 44.9% in 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 during the period. Contravisory Investment Management Inc. boosted its stake in IES by 162.5% in 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 during the period. Benjamin Edwards Inc. acquired a new position in IES in the fourth quarter valued at approximately $237,000. Finally, City State Bank boosted its stake in IES by 127.6% in 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 during the period. 86.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Jeffrey L. Et Al Gendell sold 35,852 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $363.10, for a total transaction of $13,017,861.20. Following the sale, the chairman owned 10,856,528 shares of the company's stock, valued at $3,942,005,316.80. The trade was a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 64,790 shares of company stock worth $22,925,401 over the last quarter. 56.76% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

IES Stock Performance

Shares of NASDAQ IESC opened at $342.62 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.65 and a debt-to-equity ratio of 0.03. The stock has a 50 day simple moving average of $328.35 and a 200-day simple moving average of $254.16. The company has a market cap of $6.80 billion, a PE ratio of 26.17 and a beta of 1.64. IES Holdings, Inc. has a 12-month low of $140.89 and a 12-month high of $370.88.

IES (NASDAQ:IESC - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $890.20 million during the quarter, compared to the consensus estimate of $833.00 million. IES had a return on equity of 37.23% and a net margin of 8.15%.

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.

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