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
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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

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