JPMorgan Chase & Co. Lowers Position in IES Holdings, Inc. $IESC

JPMorgan Chase & Co. cut its stake in shares of IES Holdings, Inc. (NASDAQ:IESC) by 10.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,497 shares of the technology company’s stock after selling 2,917 shares during the period. JPMorgan Chase & Co. owned about 0.13% of IES worth $10,139,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of IES by 4.8% in the second quarter. Geode Capital Management LLC now owns 263,993 shares of the technology company’s stock valued at $78,210,000 after purchasing an additional 12,026 shares during the last quarter. Pertento Partners LLP purchased a new position in IES during the second quarter worth about $46,916,000. Franklin Resources Inc. grew its position in IES by 17.0% in the 2nd quarter. Franklin Resources Inc. now owns 149,573 shares of the technology company’s stock worth $44,308,000 after purchasing an additional 21,738 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in IES by 50.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 110,313 shares of the technology company’s stock valued at $32,678,000 after buying an additional 36,845 shares during the last quarter. Finally, Invesco Ltd. increased its stake in IES by 43.7% in the 2nd quarter. Invesco Ltd. now owns 91,567 shares of the technology company’s stock valued at $27,125,000 after buying an additional 27,849 shares during the last quarter. 86.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on IESC shares. Wall Street Zen downgraded IES from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 7th. Weiss Ratings reissued a “buy (b)” rating on shares of IES in a research report on Monday, December 22nd. Finally, Loop Capital set a $458.00 target price on IES in a research report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $458.00.

Insider Activity at IES

In related news, CAO Mary K. Newman sold 2,000 shares of IES stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $477.86, for a total value of $955,720.00. Following the completion of the sale, the chief accounting officer owned 21,843 shares of the company’s stock, valued at approximately $10,437,895.98. This trade represents a 8.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David B. Gendell sold 17,867 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $452.20, for a total value of $8,079,457.40. Following the completion of the sale, the director owned 70,669 shares in the company, valued at $31,956,521.80. This represents a 20.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 123,320 shares of company stock worth $58,839,170 in the last three months. Corporate insiders own 56.43% of the company’s stock.

IES Stock Up 1.1%

Shares of IESC stock opened at $430.65 on Friday. The firm has a market cap of $8.58 billion, a P/E ratio of 25.62 and a beta of 1.68. The company has a 50 day moving average of $454.77 and a 200-day moving average of $412.35. IES Holdings, Inc. has a 12-month low of $146.51 and a 12-month high of $537.70.

IES (NASDAQ:IESC) last announced its quarterly earnings data on Friday, January 30th. The technology company reported $3.71 earnings per share for the quarter, missing the consensus estimate of $3.94 by ($0.23). IES had a net margin of 9.70% and a return on equity of 35.62%. The firm had revenue of $870.96 million for the quarter, compared to the consensus estimate of $876.00 million.

IES Company 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.