Swedbank AB Invests $3.14 Million in IES Holdings, Inc. $IESC

Key Points

• Swedbank AB has acquired a new position in IES Holdings, Inc., purchasing approximately 19,000 shares valued at around $3.14 million during the first quarter, representing 0.10% ownership of the company.
• IES Holdings reported impressive quarterly earnings, with earnings per share of $3.95, exceeding analysts' expectations of $3.55, and a revenue of $890.20 million, surpassing the $833 million forecast.
• Institutional investors now own 86.60% of IES Holdings' stock, indicating strong interest from financial institutions in the company's potential.

Swedbank AB purchased a new position in shares of IES Holdings, Inc. (NASDAQ:IESC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 19,000 shares of the technology company's stock, valued at approximately $3,137,000. Swedbank AB owned about 0.10% of IES at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC acquired a new stake in IES during the 1st quarter worth $36,000. Comerica Bank raised its holdings in IES by 44.9% in the 4th quarter. Comerica Bank now owns 507 shares of the technology company's stock valued at $102,000 after buying an additional 157 shares during the period. Contravisory Investment Management Inc. raised its holdings in IES by 162.5% in the 1st quarter. Contravisory Investment Management Inc. now owns 882 shares of the technology company's stock valued at $146,000 after buying an additional 546 shares during the period. City State Bank raised its holdings in IES by 127.6% in the 1st quarter. City State Bank now owns 1,195 shares of the technology company's stock valued at $197,000 after buying an additional 670 shares during the period. Finally, Highland Capital Management LLC raised its holdings in IES by 22.7% in the 1st quarter. Highland Capital Management LLC now owns 1,294 shares of the technology company's stock valued at $214,000 after buying an additional 239 shares during the period. Institutional investors and hedge funds own 86.60% of the company's stock.

Wall Street Analysts Forecast Growth

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

IES Stock Up 0.5%

NASDAQ IESC traded up $1.92 during mid-day trading on Friday, reaching $379.42. 215,680 shares of the company's stock traded hands, compared to its average volume of 136,233. The company has a market cap of $7.53 billion, a price-to-earnings ratio of 28.99 and a beta of 1.64. The company has a fifty day simple moving average of $344.80 and a 200-day simple moving average of $268.87. The company has a current ratio of 1.85, a quick ratio of 1.65 and a debt-to-equity ratio of 0.03. IES Holdings, Inc. has a 1-year low of $146.51 and a 1-year high of $388.70.

IES (NASDAQ:IESC - Get Free Report) last issued its earnings results on Friday, August 1st. The technology company reported $3.95 EPS for the quarter, topping the consensus estimate of $3.55 by $0.40. IES had a return on equity of 37.23% and a net margin of 8.15%.The company had revenue of $890.20 million during the quarter, compared to analyst estimates of $833.00 million.

Insider Buying and Selling at IES

In related news, Chairman Jeffrey L. Et Al Gendell sold 55,500 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $373.92, for a total value of $20,752,560.00. Following the completion of the transaction, the chairman owned 10,801,028 shares in the company, valued at $4,038,720,389.76. This trade represents a 0.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 145,837 shares of company stock valued at $53,984,109. Company insiders own 56.76% of the company's stock.

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.