Hennessy Advisors Inc. Lowers Position in IES Holdings, Inc. (NASDAQ:IESC)

Hennessy Advisors Inc. decreased its holdings in IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 10.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 74,100 shares of the technology company's stock after selling 8,500 shares during the period. Hennessy Advisors Inc. owned approximately 0.37% of IES worth $12,235,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in IES by 1,856.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,070 shares of the technology company's stock worth $818,000 after acquiring an additional 3,862 shares during the last quarter. Convergence Investment Partners LLC lifted its holdings in IES by 26.4% during the 4th quarter. Convergence Investment Partners LLC now owns 7,010 shares of the technology company's stock worth $1,409,000 after buying an additional 1,463 shares during the period. Millennium Management LLC lifted its holdings in IES by 650.6% during the 4th quarter. Millennium Management LLC now owns 25,462 shares of the technology company's stock worth $5,117,000 after buying an additional 22,070 shares during the period. Barclays PLC lifted its holdings in IES by 14.0% during the 4th quarter. Barclays PLC now owns 17,303 shares of the technology company's stock worth $3,477,000 after buying an additional 2,127 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in IES during the 4th quarter worth about $2,361,000. Institutional investors own 86.60% of the company's stock.

Insider Transactions at IES

In other news, CEO Jeffrey L. Et Al Gendell sold 5,764 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $273.59, for a total value of $1,576,972.76. Following the completion of the transaction, the chief executive officer now directly owns 10,917,554 shares of the company's stock, valued at $2,986,933,598.86. This represents a 0.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 39,630 shares of company stock valued at $10,915,095 over the last ninety days. 56.76% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded IES from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

IES Stock Performance

Shares of NASDAQ:IESC traded down $10.57 during midday trading on Friday, reaching $261.89. The company's stock had a trading volume of 120,937 shares, compared to its average volume of 174,933. The firm has a 50 day moving average price of $231.45 and a two-hundred day moving average price of $221.38. IES Holdings, Inc. has a fifty-two week low of $126.07 and a fifty-two week high of $320.09. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 24.38 and a beta of 1.62.

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 return on equity of 35.81% and a net margin of 7.30%. The business had revenue of $834.00 million for the quarter.

About IES

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.