Navellier & Associates Inc. Lowers Position in IES Holdings, Inc. (NASDAQ:IESC)

Key Points

• Navellier & Associates Inc. has reduced its holdings in IES Holdings by 44.4%, now owning 2,886 shares valued at approximately $477,000.
• CEO Jeffrey L. Et Al Gendell sold 5,764 shares for nearly $1.58 million, while insiders collectively sold 39,630 shares valued at over $10.9 million in recent months.
• IES Holdings' stock is currently trading at $357.66, significantly up 8.9% recently, with a market cap of $7.10 billion and a reported earnings per share of $3.30 for the last quarter.

Navellier & Associates Inc. reduced its stake in shares of IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 44.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,886 shares of the technology company's stock after selling 2,304 shares during the period. Navellier & Associates Inc.'s holdings in IES were worth $477,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Millennium Management LLC lifted its position in IES by 650.6% during the fourth quarter. Millennium Management LLC now owns 25,462 shares of the technology company's stock valued at $5,117,000 after purchasing an additional 22,070 shares during the period. Rhumbline Advisers grew its stake in IES by 3.0% during the 1st quarter. Rhumbline Advisers now owns 12,663 shares of the technology company's stock valued at $2,091,000 after acquiring an additional 366 shares in the last quarter. Barclays PLC grew its stake in IES by 14.0% during the 4th quarter. Barclays PLC now owns 17,303 shares of the technology company's stock valued at $3,477,000 after acquiring an additional 2,127 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in IES during the 4th quarter valued at about $2,361,000. Finally, Bridgewater Advisors Inc. purchased a new stake in IES during the 1st quarter valued at about $552,000. 86.60% of the stock is currently owned by institutional investors and hedge funds.

IES Price Performance

NASDAQ IESC traded up $3.15 during trading hours on Wednesday, hitting $344.10. 22,826 shares of the company's stock traded hands, compared to its average volume of 190,169. IES Holdings, Inc. has a 52-week low of $129.16 and a 52-week high of $370.88. The company has a market capitalization of $6.83 billion, a PE ratio of 28.79 and a beta of 1.63. The firm's 50-day moving average is $288.66 and its 200-day moving average is $235.73.

IES (NASDAQ:IESC - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The technology company reported $3.30 earnings per share for the quarter. IES had a net margin of 7.76% and a return on equity of 36.49%. The business had revenue of $834.00 million during the quarter.

Insider Activity at IES

In related news, CEO Jeffrey L. Et Al Gendell sold 5,764 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $273.59, for a total value of $1,576,972.76. Following the completion of the sale, the chief executive officer owned 10,917,554 shares in the company, valued at $2,986,933,598.86. This trade represents a 0.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 39,630 shares of company stock valued at $10,915,095. Corporate insiders own 56.76% 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 note on Saturday.

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.