Russell Investments Group Ltd. Sells 7,873 Shares of IES Holdings, Inc. $IESC

Key Points

• Russell Investments Group Ltd. significantly reduced its stake in IES Holdings, Inc. by 41.1% during the first quarter, selling 7,873 shares and now owning approximately 11,274 shares valued at $1,862,000.
• Institutional investors and hedge funds collectively own 86.60% of IES's stock, indicating strong institutional interest in the company.
• IES Holdings reported a quarterly EPS of $3.95, surpassing analyst expectations and achieving revenues of $890.20 million, which notably exceeded projections of $833.00 million.

Russell Investments Group Ltd. decreased its position in IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 41.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,274 shares of the technology company's stock after selling 7,873 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.06% of IES worth $1,862,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of IESC. Catalyst Capital Advisors LLC bought a new stake in shares of IES during the 1st quarter valued at about $36,000. Comerica Bank boosted its holdings in shares of IES by 44.9% in the fourth quarter. Comerica Bank now owns 507 shares of the technology company's stock worth $102,000 after buying an additional 157 shares during the last quarter. Contravisory Investment Management Inc. grew its position in 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 buying an additional 546 shares during the period. City State Bank grew its position in 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 buying an additional 670 shares during the period. Finally, Highland Capital Management LLC increased its holdings in IES by 22.7% during the first quarter. Highland Capital Management LLC now owns 1,294 shares of the technology company's stock valued at $214,000 after buying an additional 239 shares during the last quarter. 86.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Jeffrey L. Et Al Gendell sold 35,852 shares of IES stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $363.10, for a total value of $13,017,861.20. Following the completion of the transaction, the chairman owned 10,856,528 shares in the company, valued at approximately $3,942,005,316.80. The trade was a 0.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 98,656 shares of company stock valued at $32,263,523. 56.76% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

IES Price Performance

Shares of IESC stock traded down $13.02 on Monday, reaching $349.31. The company's stock had a trading volume of 188,214 shares, compared to its average volume of 130,744. IES Holdings, Inc. has a 1 year low of $140.89 and a 1 year high of $370.88. The company has a market capitalization of $6.93 billion, a price-to-earnings ratio of 26.69 and a beta of 1.64. The stock's fifty day simple moving average is $326.00 and its 200-day simple moving average is $252.88. The company has a current ratio of 1.85, a quick ratio of 1.65 and a debt-to-equity ratio of 0.03.

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

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.