Swedbank AB Sells 11,000 Shares of IES Holdings, Inc. $IESC

Key Points

• Swedbank AB reduced its stake in IES Holdings by 16.9% in the first quarter, selling 11,000 shares and leaving it with 54,000 shares valued at about $25.7 million.
• IES reported mixed quarterly results, beating earnings estimates with $4.16 EPS but missing revenue expectations at $974.2 million versus the $1.01 billion forecast.
• Insider selling has been significant, including recent share sales by Director Todd M. Cleveland and CFO Tracy Mclauchlin, with insiders selling 208,102 shares worth $146.5 million over the past 90 days.

Swedbank AB lessened its holdings in IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 16.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,000 shares of the technology company's stock after selling 11,000 shares during the period. Swedbank AB owned approximately 0.27% of IES worth $25,729,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of IES by 324,337.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 120,042 shares of the technology company's stock worth $46,699,000 after purchasing an additional 120,005 shares during the period. Norges Bank bought a new position in IES during the fourth quarter valued at about $40,578,000. Parsifal Capital Management LP bought a new position in IES during the third quarter valued at about $25,768,000. Arrowstreet Capital Limited Partnership increased its holdings in IES by 25.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 164,722 shares of the technology company's stock worth $64,080,000 after buying an additional 33,273 shares during the last quarter. Finally, Raymond James Financial Inc. raised its position in IES by 3,965.1% in the third quarter. Raymond James Financial Inc. now owns 31,830 shares of the technology company's stock worth $12,657,000 after acquiring an additional 31,047 shares during the period. 86.60% of the stock is owned by institutional investors.

IES Stock Up 1.6%

IESC opened at $619.29 on Thursday. The firm has a 50-day moving average price of $687.70 and a 200-day moving average price of $545.67. IES Holdings, Inc. has a twelve month low of $291.55 and a twelve month high of $804.00. The company has a market capitalization of $12.34 billion, a price-to-earnings ratio of 33.03 and a beta of 1.78.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on IESC shares. Wall Street Zen cut shares of IES from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Weiss Ratings restated a "buy (b)" rating on shares of IES in a research note on Thursday, June 18th. Finally, Freedom Capital cut shares of IES from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $458.00.

Insider Buying and Selling at IES

In other news, Director Todd M. Cleveland sold 5,000 shares of IES stock in a transaction on Friday, June 12th. The stock was sold at an average price of $761.89, for a total value of $3,809,450.00. Following the completion of the transaction, the director directly owned 60,874 shares in the company, valued at approximately $46,379,291.86. The trade was a 7.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Tracy Mclauchlin sold 3,000 shares of the business's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $662.61, for a total value of $1,987,830.00. Following the sale, the chief financial officer owned 62,525 shares in the company, valued at approximately $41,429,690.25. The trade was a 4.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 208,102 shares of company stock valued at $146,518,202 in the last 90 days. 56.43% of the stock is currently owned by company insiders.

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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