State of Wyoming Decreases Holdings in IES Holdings, Inc. $IESC

Key Points

• State of Wyoming reduced its IES Holdings stake by 23.8% in the first quarter, selling 5,540 shares and ending with 17,722 shares worth about $8.44 million.
• Insiders have been selling shares, including Chairman Jeffrey L. Et Al Gendell and Director Todd M. Cleveland; total insider sales over the last quarter reached 208,102 shares worth about $146.5 million.
• IES reported better-than-expected earnings of $4.16 per share, though quarterly revenue of $974.2 million came in below analyst estimates of $1.01 billion.

State of Wyoming cut its stake in shares of IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 23.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,722 shares of the technology company's stock after selling 5,540 shares during the period. IES comprises about 1.0% of State of Wyoming's investment portfolio, making the stock its 6th biggest position. State of Wyoming owned approximately 0.09% of IES worth $8,444,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of IESC. Militia Capital Management LLC purchased a new stake in IES in the first quarter worth about $218,000. Petra Financial Advisors Inc. lifted its position in shares of IES by 2.3% during the 1st quarter. Petra Financial Advisors Inc. now owns 1,843 shares of the technology company's stock valued at $878,000 after buying an additional 41 shares in the last quarter. First Trust Advisors LP grew its stake in shares of IES by 40.4% during the 1st quarter. First Trust Advisors LP now owns 349,163 shares of the technology company's stock valued at $166,366,000 after acquiring an additional 100,425 shares during the period. Florida Financial Advisors LLC increased its holdings in IES by 18.7% in the 1st quarter. Florida Financial Advisors LLC now owns 4,548 shares of the technology company's stock worth $2,167,000 after acquiring an additional 715 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in IES by 121.4% in the 1st quarter. Parallel Advisors LLC now owns 62 shares of the technology company's stock worth $30,000 after acquiring an additional 34 shares in the last quarter. Institutional investors own 86.60% of the company's stock.

Insider Activity

In related news, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the firm's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $756.47, for a total transaction of $35,342,278.40. Following the completion of the transaction, the chairman directly owned 10,406,559 shares of the company's stock, valued at approximately $7,872,249,686.73. This trade represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Todd M. Cleveland sold 5,000 shares of IES stock in a transaction on Friday, June 12th. The shares were sold at an average price of $761.89, for a total transaction of $3,809,450.00. Following the completion of the sale, the director owned 60,874 shares in the company, valued at approximately $46,379,291.86. This represents a 7.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 208,102 shares of company stock worth $146,518,202 over the last quarter. Insiders own 56.43% of the company's stock.

IES Trading Up 4.1%

NASDAQ:IESC opened at $674.20 on Thursday. IES Holdings, Inc. has a 12-month low of $309.51 and a 12-month high of $804.00. The stock has a 50-day moving average price of $682.62 and a 200 day moving average price of $561.65. The stock has a market capitalization of $13.43 billion, a P/E ratio of 35.96 and a beta of 1.78.

IES (NASDAQ:IESC - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The technology company reported $4.16 EPS for the quarter, topping analysts' consensus estimates of $3.95 by $0.21. IES had a return on equity of 33.97% and a net margin of 10.40%.The company had revenue of $974.20 million for the quarter, compared to analysts' expectations of $1.01 billion.

Analyst Ratings Changes

Several equities analysts have weighed in on IESC shares. Wall Street Zen downgraded shares of IES from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 10th. Weiss Ratings reissued a "buy (b)" rating on shares of IES in a research note on Thursday, June 18th. Finally, Freedom Capital downgraded shares of IES from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $458.00.

IES Profile

IES Holdings, Inc NASDAQ: IESC is a specialty contractor providing integrated electrical and mechanical construction services, engineering, and systems integration across North America. The company focuses on delivering end-to-end solutions for commercial, industrial and mission-critical facilities, combining design, build, commission and maintenance capabilities to serve a wide range of markets.

Through its subsidiaries, IES offers a comprehensive portfolio of services including electrical distribution and infrastructure, mechanical contracting, process piping, controls and automation, energy management, and ongoing service and maintenance.

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