Pallas Capital Advisors LLC Purchases New Holdings in IES Holdings, Inc. $IESC

Key Points

• Pallas Capital Advisors LLC acquired a new position in IES Holdings, purchasing 1,179 shares valued at approximately $349,000 during the second quarter.
• IES Holdings recently reported earnings of $3.95 per share, exceeding expectations by $0.40, with revenue of $890.20 million surpassing analyst forecasts.
• Wall Street Zen upgraded IES from a "buy" rating to a "strong-buy" rating, highlighting increased institutional investor interest in the company's stock.

Pallas Capital Advisors LLC bought a new position in IES Holdings, Inc. (NASDAQ:IESC - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,179 shares of the technology company's stock, valued at approximately $349,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in IESC. Catalyst Capital Advisors LLC acquired a new stake in IES in the 1st quarter valued at approximately $36,000. Contravisory Investment Management Inc. lifted its position in 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 acquiring an additional 546 shares during the last quarter. City State Bank increased its stake in IES by 127.6% in the first quarter. City State Bank now owns 1,195 shares of the technology company's stock valued at $197,000 after purchasing an additional 670 shares during the period. Highland Capital Management LLC increased its stake in shares of 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 period. Finally, Summit Trail Advisors LLC increased its stake in shares of IES by 7.6% during the first quarter. Summit Trail Advisors LLC now owns 1,338 shares of the technology company's stock worth $221,000 after acquiring an additional 95 shares during the period. Institutional investors and hedge funds own 86.60% 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, August 16th.

IES Trading Up 0.5%

IES stock opened at $379.42 on Monday. The company has a market cap of $7.53 billion, a P/E ratio of 28.99 and a beta of 1.64. The firm's 50-day moving average is $344.80 and its 200-day moving average is $270.27. IES Holdings, Inc. has a 1 year low of $146.51 and a 1 year high of $388.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.65 and a current ratio of 1.85.

IES (NASDAQ:IESC - Get Free Report) last released 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 analysts' expectations of $833.00 million. IES had a net margin of 8.15% and a return on equity of 37.23%.

Insider Buying and Selling at IES

In related news, Chairman Jeffrey L. Et Al Gendell sold 55,500 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $373.92, for a total transaction of $20,752,560.00. Following the transaction, the chairman directly owned 10,801,028 shares of the company's stock, valued at approximately $4,038,720,389.76. The trade was a 0.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 145,837 shares of company stock valued at $53,984,109 over the last quarter. Company insiders own 56.76% of the company's stock.

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.

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