VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $1.45 Million Investment in IES Holdings, Inc. $IESC

Key Points

• The Virginia Retirement Systems invested approximately $1.45 million in IES Holdings, acquiring 4,900 shares in the second quarter.
• IES Holdings reported an EPS of $3.95 for its last quarter, surpassing analyst expectations of $3.55 and generating revenues of $890.20 million.
• Insider sales included a transaction by Chairman Jeffrey L. Et Al Gendell, who sold 6,811 shares for roughly $2.6 million, reducing his stake slightly.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in IES Holdings, Inc. (NASDAQ:IESC - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,900 shares of the technology company's stock, valued at approximately $1,452,000.

A number of other large investors have also added to or reduced their stakes in the company. Insight Wealth Strategies LLC raised its holdings in IES by 4.9% in the second quarter. Insight Wealth Strategies LLC now owns 1,404 shares of the technology company's stock worth $406,000 after purchasing an additional 66 shares in the last quarter. Boston Partners raised its holdings in IES by 3.0% in the first quarter. Boston Partners now owns 2,870 shares of the technology company's stock worth $474,000 after purchasing an additional 84 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in IES in the second quarter worth about $25,000. Principal Financial Group Inc. raised its holdings in IES by 1.1% in the first quarter. Principal Financial Group Inc. now owns 8,447 shares of the technology company's stock worth $1,395,000 after purchasing an additional 95 shares in the last quarter. Finally, Summit Trail Advisors LLC raised its holdings in IES by 7.6% in the first quarter. Summit Trail Advisors LLC now owns 1,338 shares of the technology company's stock worth $221,000 after purchasing an additional 95 shares in the last quarter. 86.60% of the stock is currently owned by institutional investors.

IES Price Performance

Shares of NASDAQ:IESC opened at $359.98 on Thursday. 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 twelve month low of $146.51 and a twelve month high of $405.00. The company's 50 day moving average is $369.71 and its 200 day moving average is $302.66. The company has a market cap of $7.15 billion, a PE ratio of 27.50 and a beta of 1.70.

IES (NASDAQ:IESC - Get Free Report) last released its quarterly earnings data 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 business had revenue of $890.20 million for the quarter, compared to analyst estimates of $833.00 million.

Insider Buying and Selling

In other IES news, Chairman Jeffrey L. Et Al Gendell sold 6,811 shares of the company's stock in a transaction that occurred 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 sale, the chairman owned 10,769,717 shares in the company, valued at approximately $4,100,462,050.58. This represents a 0.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders sold 145,837 shares of company stock valued at $53,984,109. Corporate insiders own 56.76% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on IESC shares. Weiss Ratings restated a "buy (b-)" rating on shares of IES in a report on Tuesday, October 14th. Wall Street Zen upgraded shares of IES from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy".

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.