IES Holdings, Inc. $IESC Shares Sold by Swedbank AB

Key Points

• Swedbank AB cut its stake in IES Holdings by 19.8% in the fourth quarter, selling 16,000 shares and ending with 65,000 shares valued at about $25.3 million.
• IES posted mixed quarterly results, with earnings of $4.16 per share beating estimates of $3.95, while revenue of $974.2 million fell short of the $1.01 billion consensus.
• Insider selling has been notable, including sales by CEO Matthew J. Simmes and Director Todd M. Cleveland, while analysts remain split with a current average rating of “Moderate Buy” and a $458 target price.

Swedbank AB decreased its position in IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 19.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,000 shares of the technology company's stock after selling 16,000 shares during the quarter. Swedbank AB owned 0.33% of IES worth $25,286,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of IESC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in IES by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,904 shares of the technology company's stock valued at $810,000 after acquiring an additional 223 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in IES by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,787 shares of the technology company's stock valued at $3,762,000 after acquiring an additional 1,435 shares in the last quarter. Prudential Financial Inc. acquired a new stake in IES in the second quarter valued at approximately $365,000. Quantbot Technologies LP acquired a new stake in IES in the second quarter valued at approximately $89,000. Finally, Invesco Ltd. grew its position in IES by 43.7% in the second quarter. Invesco Ltd. now owns 91,567 shares of the technology company's stock valued at $27,125,000 after acquiring an additional 27,849 shares in the last quarter. Institutional investors and hedge funds own 86.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Loop Capital set a $458.00 price objective on shares of IES in a research report on Tuesday, February 3rd. Freedom Capital downgraded shares of IES from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Finally, Wall Street Zen raised shares of IES from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, IES currently has an average rating of "Moderate Buy" and an average target price of $458.00.

Trending Headlines about IES

Here are the key news stories impacting IES this week:

• Positive Sentiment: IES reported quarterly earnings of $4.16 per share, topping analyst estimates of $3.95 and reinforcing the company’s strong profitability profile. Revenue came in below expectations, but the earnings beat may still support the stock’s higher valuation. IES earnings and stock page
• Neutral Sentiment: Wall Street Zen recently upgraded IESC from “buy” to “strong-buy,” while Freedom Capital downgraded the stock from “strong-buy” to “hold.” The mixed analyst signals suggest some disagreement about how much upside remains after the stock’s sharp run. Article on Freedom Capital downgrade
• Negative Sentiment: CEO Matthew Simmes sold 7,000 shares, and Director Todd M. Cleveland sold 11,578 shares plus an additional 922 shares in separate transactions. Large insider sales can raise concern that executives and directors see less near-term upside at current levels. Insider selling alert
• Negative Sentiment: Chairman Jeffrey L. Et Al Gendell also sold 40,103 shares and then another 7,052 shares, adding to the negative sentiment around insider activity. Although the sales were small relative to his overall stake, the pace of selling may weigh on investor confidence. SEC filing

IES Trading Up 0.2%

IESC stock opened at $666.70 on Friday. IES Holdings, Inc. has a twelve month low of $235.99 and a twelve month high of $688.51. The company has a market capitalization of $13.29 billion, a P/E ratio of 35.56 and a beta of 1.81. The firm has a 50 day simple moving average of $511.80 and a 200-day simple moving average of $456.24.

IES (NASDAQ:IESC - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The technology company reported $4.16 EPS for the quarter, topping analysts' consensus estimates of $3.95 by $0.21. The firm had revenue of $974.20 million during the quarter, compared to the consensus estimate of $1.01 billion. IES had a net margin of 10.40% and a return on equity of 33.97%.

Insiders Place Their Bets

In other IES news, Director Todd M. Cleveland sold 11,578 shares of IES stock in a transaction on Friday, May 8th. The shares were sold at an average price of $663.52, for a total value of $7,682,234.56. Following the completion of the transaction, the director owned 65,817 shares of the company's stock, valued at $43,670,895.84. The trade was a 14.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Matthew J. Simmes sold 7,000 shares of IES stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $658.24, for a total transaction of $4,607,680.00. Following the completion of the transaction, the chief executive officer directly owned 86,575 shares of the company's stock, valued at approximately $56,987,128. This represents a 7.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 87,315 shares of company stock valued at $55,468,083 over the last 90 days. 56.43% of the stock is owned by company insiders.

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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