Hsbc Holdings PLC Makes New $2.83 Million Investment in IES Holdings, Inc. $IESC

Hsbc Holdings PLC bought a new stake in IES Holdings, Inc. (NASDAQ:IESC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 7,209 shares of the technology company’s stock, valued at approximately $2,826,000.

Other hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of IES by 324,337.8% during the fourth 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 last quarter. Norges Bank acquired a new stake in IES during the 4th quarter worth approximately $40,578,000. Parsifal Capital Management LP acquired a new stake in IES during the 3rd quarter worth approximately $25,768,000. Arrowstreet Capital Limited Partnership grew its holdings in IES by 25.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 164,722 shares of the technology company’s stock worth $64,080,000 after acquiring an additional 33,273 shares during the last quarter. Finally, Raymond James Financial Inc. grew its holdings in IES by 3,965.1% during the 3rd 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 last quarter. 86.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IESC. Freedom Capital cut shares of IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Wall Street Zen lowered shares of IES from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of IES in a research note on Thursday, June 18th. One 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $458.00.

IES Stock Down 2.7%

IESC stock opened at $625.54 on Friday. The firm has a market cap of $12.46 billion, a price-to-earnings ratio of 33.36 and a beta of 1.78. The company’s fifty day simple moving average is $689.61 and its 200 day simple moving average is $547.85. IES Holdings, Inc. has a 12-month low of $291.55 and a 12-month high of $804.00.

IES (NASDAQ:IESC) last issued its quarterly earnings results on Friday, May 1st. The technology company reported $4.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.95 by $0.21. IES had a return on equity of 33.97% and a net margin of 10.40%.The firm had revenue of $974.20 million during the quarter, compared to the consensus estimate of $1.01 billion.

Insider Activity at IES

In other IES news, Director Todd M. Cleveland sold 5,000 shares of IES stock in a transaction that occurred 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 sale, 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 SEC, which can be accessed through this hyperlink. Also, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $756.47, for a total value of $35,342,278.40. Following the completion of the transaction, the chairman directly owned 10,406,559 shares in the company, valued at approximately $7,872,249,686.73. This trade represents a 0.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 208,102 shares of company stock worth $146,518,202 in the last 90 days. Corporate insiders own 56.43% of the company’s stock.

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.