Free Trial

Meeder Asset Management Inc. Makes New Investment in IES Holdings, Inc. (NASDAQ:IESC)

IES logo with Computer and Technology background

Key Points

  • Meeder Asset Management has invested approximately $1.09 million in IES Holdings, purchasing 6,603 shares as part of a new position.
  • Insider trading activity includes CEO Jeffrey L. Gendell selling 5,764 shares for about $1.58 million, resulting in a 0.05% decrease in his ownership stake.
  • Wall Street analysts have upgraded IES Holdings from a "buy" to a "strong-buy" rating, indicating positive outlooks on the company's performance.
  • MarketBeat previews the top five stocks to own by September 1st.

Meeder Asset Management Inc. bought a new position in shares of IES Holdings, Inc. (NASDAQ:IESC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,603 shares of the technology company's stock, valued at approximately $1,090,000.

A number of other institutional investors also recently bought and sold shares of the company. Catalyst Capital Advisors LLC acquired a new position in shares of IES in the 1st quarter worth approximately $36,000. National Bank of Canada FI acquired a new position in shares of IES in the 4th quarter worth approximately $54,000. Comerica Bank lifted its holdings in shares of IES by 44.9% in the 4th quarter. Comerica Bank now owns 507 shares of the technology company's stock worth $102,000 after acquiring an additional 157 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of IES by 6.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 861 shares of the technology company's stock worth $173,000 after acquiring an additional 53 shares during the last quarter. Finally, Contravisory Investment Management Inc. lifted its holdings in shares of IES by 162.5% in the 1st quarter. Contravisory Investment Management Inc. now owns 882 shares of the technology company's stock worth $146,000 after acquiring an additional 546 shares during the last quarter. 86.60% of the stock is owned by hedge funds and other institutional investors.

IES Trading Down 0.8%

IESC traded down $2.66 during trading hours on Friday, hitting $350.41. 180,778 shares of the company's stock were exchanged, compared to its average volume of 152,114. The firm has a market cap of $6.96 billion, a P/E ratio of 29.32 and a beta of 1.67. The firm has a 50 day moving average of $294.99 and a 200 day moving average of $238.14. IES Holdings, Inc. has a 12-month low of $129.16 and a 12-month high of $370.88.

IES (NASDAQ:IESC - Get Free Report) last posted its earnings results on Friday, August 1st. The technology company reported $3.95 EPS for the quarter, beating the consensus estimate of $3.55 by $0.40. The firm had revenue of $890.20 million for the quarter, compared to analyst estimates of $833.00 million. IES had a return on equity of 36.49% and a net margin of 7.76%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of IES from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th.

View Our Latest Analysis on IES

Insider Buying and Selling

In related news, CEO Jeffrey L. Et Al Gendell sold 27,144 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $275.92, for a total value of $7,489,572.48. Following the transaction, the chief executive officer owned 10,930,040 shares of the company's stock, valued at $3,015,816,636.80. This represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 39,630 shares of company stock valued at $10,915,095 over the last 90 days. Corporate insiders own 56.76% of the company's stock.

IES Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for IES (NASDAQ:IESC)

Should You Invest $1,000 in IES Right Now?

Before you consider IES, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IES wasn't on the list.

While IES currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The Next 7 Blockbuster Stocks for Growth Investors Cover

Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

5 Stocks to BUY NOW in August 2025
The $2.5B Merger No One Is Talking About
ALERT: Big Tech Earnings – Watch Before Wednesday

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines