IES Holdings, Inc. $IESC Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. significantly reduced its stake in IES Holdings, Inc. by 68.3%, now holding approximately 0.32% of the company, valued at $10.52 million.
• IES Holdings reported a strong quarterly earnings performance, with an EPS of $3.95, surpassing analyst expectations, and a revenue of $890.20 million.
• GAMMA Investing LLC dramatically increased its stake in IES Holdings by 17,886.4%, acquiring shares worth $69.79 million, reflecting increased confidence from institutional investors.

Invesco Ltd. decreased its stake in IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 68.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,718 shares of the technology company's stock after selling 137,081 shares during the period. Invesco Ltd. owned approximately 0.32% of IES worth $10,520,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IESC. Catalyst Capital Advisors LLC acquired a new stake in shares of IES in the first quarter valued at about $36,000. Comerica Bank lifted its stake in shares of 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 purchasing an additional 157 shares during the period. Contravisory Investment Management Inc. lifted its stake in shares of 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 purchasing an additional 546 shares during the period. City State Bank raised 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 worth $197,000 after acquiring an additional 670 shares during the last quarter. Finally, Highland Capital Management LLC raised its position in IES by 22.7% during the first quarter. Highland Capital Management LLC now owns 1,294 shares of the technology company's stock worth $214,000 after acquiring an additional 239 shares during the last quarter. Institutional investors and hedge funds own 86.60% of the company's stock.

IES Price Performance

IESC traded down $13.02 during midday trading on Friday, reaching $349.31. 188,214 shares of the company's stock were exchanged, compared to its average volume of 130,378. The business's 50-day moving average price is $324.64 and its 200 day moving average price is $251.83. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.85 and a quick ratio of 1.65. The stock has a market capitalization of $6.93 billion, a PE ratio of 26.69 and a beta of 1.67. IES Holdings, Inc. has a 1-year low of $140.89 and a 1-year high of $370.88.

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

Insider Transactions at IES

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 shares were sold at an average price of $363.10, for a total value of $13,017,861.20. Following the completion of the sale, the chairman directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 98,656 shares of company stock valued at $32,263,523 in the last ninety days. 56.76% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.