IES Holdings, Inc. $IESC Shares Purchased by Swedbank AB

Key Points

• Swedbank AB has significantly increased its stake in IES Holdings, Inc. by 68.4% during Q2, now owning about 0.16% of the company valued at approximately $9.48 million.
• Wall Street analyst firm Wall Street Zen upgraded IES shares from a "buy" to a "strong-buy" rating on August 16th.
• IES Holdings reported earnings of $3.95 EPS, surpassing estimates, and achieved a revenue of $890.20 million for the last quarter.

Swedbank AB grew its position in IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 68.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,000 shares of the technology company's stock after acquiring an additional 13,000 shares during the quarter. Swedbank AB owned about 0.16% of IES worth $9,479,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Catalyst Capital Advisors LLC purchased a new position in shares of IES in the first quarter valued at approximately $36,000. Contravisory Investment Management Inc. lifted its position in IES by 162.5% during the first quarter. Contravisory Investment Management Inc. now owns 882 shares of the technology company's stock worth $146,000 after buying an additional 546 shares in the last quarter. Pallas Capital Advisors LLC purchased a new position in IES during the second quarter worth approximately $349,000. City State Bank lifted 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 buying an additional 670 shares in the last quarter. Finally, Highland Capital Management LLC lifted 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 buying an additional 239 shares in the last quarter. Hedge funds and other institutional investors own 86.60% of the company's stock.

Insider Buying and Selling at IES

In other news, Chairman Jeffrey L. Et Al Gendell sold 6,811 shares of IES stock in a transaction on Monday, September 15th. The stock was sold at an average price of $380.74, for a total value of $2,593,220.14. Following the completion of the sale, the chairman directly owned 10,769,717 shares of the company's stock, valued at approximately $4,100,462,050.58. The trade was a 0.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 145,837 shares of company stock valued at $53,984,109 over the last ninety days. Insiders own 56.76% of the company's stock.

IES Trading Up 2.7%

IESC stock traded up $10.35 during midday trading on Monday, hitting $389.77. 139,600 shares of the company's stock were exchanged, compared to its average volume of 141,054. The business has a 50-day simple moving average of $346.48 and a two-hundred day simple moving average of $271.82. The company has a current ratio of 1.85, a quick ratio of 1.65 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $7.74 billion, a PE ratio of 29.78 and a beta of 1.64. IES Holdings, Inc. has a 1-year low of $146.51 and a 1-year high of $389.95.

IES (NASDAQ:IESC - Get Free Report) last issued 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. IES had a return on equity of 37.23% and a net margin of 8.15%.The business had revenue of $890.20 million during the quarter, compared to analysts' expectations of $833.00 million.

Analyst Ratings Changes

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

IES 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.