Victory Capital Management Inc. Grows Stock Position in IES Holdings, Inc. (NASDAQ:IESC)

Key Points

• Victory Capital Management Inc. increased its stake in IES Holdings, Inc. by 91.6%, acquiring an additional 6,006 shares, giving it a total of 12,561 shares valued at approximately $2.07 million.
• CEO Jeffrey L. Et Al Gendell sold 5,764 shares of IES Holdings at an average price of $273.59, reducing his total ownership to about 10.92 million shares worth nearly $2.99 billion.
• Wall Street analysts have upgraded IES from a "buy" to a "strong-buy" rating, indicating positive growth expectations for the company.

Victory Capital Management Inc. increased its holdings in IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 91.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,561 shares of the technology company's stock after acquiring an additional 6,006 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of IES worth $2,074,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of IESC. HighTower Advisors LLC acquired a new position in shares of IES in the 4th quarter valued at $318,000. Commonwealth Equity Services LLC acquired a new position in shares of IES in the 4th quarter valued at $244,000. Sei Investments Co. increased its holdings in shares of IES by 39.5% in the 4th quarter. Sei Investments Co. now owns 4,042 shares of the technology company's stock valued at $812,000 after acquiring an additional 1,145 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of IES in the 4th quarter valued at $382,000. Finally, LPL Financial LLC increased its stake in IES by 588.0% in the 4th quarter. LPL Financial LLC now owns 46,426 shares of the technology company's stock valued at $9,330,000 after buying an additional 39,678 shares during the period. 86.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of IES from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th.

Insider Buying and Selling at IES

In other IES news, CEO Jeffrey L. Et Al Gendell sold 5,764 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $273.59, for a total transaction of $1,576,972.76. Following the sale, the chief executive officer directly owned 10,917,554 shares in the company, valued at approximately $2,986,933,598.86. The trade was a 0.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 39,630 shares of company stock valued at $10,915,095 over the last quarter. 56.76% of the stock is owned by insiders.

IES Trading Up 0.3%

Shares of NASDAQ:IESC traded up $0.98 during midday trading on Friday, hitting $354.05. The stock had a trading volume of 83,384 shares, compared to its average volume of 189,881. The company has a market capitalization of $7.03 billion, a PE ratio of 29.71 and a beta of 1.63. The stock has a 50 day moving average price of $292.87 and a two-hundred day moving average price of $237.40. IES Holdings, Inc. has a 1 year low of $129.16 and a 1 year high of $370.88.

IES (NASDAQ:IESC - Get Free Report) last issued its earnings results on Friday, May 2nd. The technology company reported $3.30 earnings per share for the quarter. The business had revenue of $834.00 million for the quarter. IES had a net margin of 7.76% and a return on equity of 36.49%.

About IES

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.