Arrowstreet Capital Limited Partnership Sells 8,329 Shares of IES Holdings, Inc. $IESC

Arrowstreet Capital Limited Partnership lowered its stake in shares of IES Holdings, Inc. (NASDAQ:IESC) by 5.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 156,393 shares of the technology company’s stock after selling 8,329 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in IES were worth $74,517,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Parallel Advisors LLC lifted its stake in IES by 121.4% in the first quarter. Parallel Advisors LLC now owns 62 shares of the technology company’s stock valued at $30,000 after acquiring an additional 34 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of IES during the 4th quarter worth about $38,000. Steward Partners Investment Advisory LLC increased its stake in shares of IES by 366.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 98 shares of the technology company’s stock worth $38,000 after purchasing an additional 77 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of IES by 59.0% in the 4th quarter. Global Retirement Partners LLC now owns 124 shares of the technology company’s stock valued at $48,000 after purchasing an additional 46 shares during the period. Finally, Larson Financial Group LLC raised its holdings in shares of IES by 2,100.0% in the 4th quarter. Larson Financial Group LLC now owns 132 shares of the technology company’s stock valued at $51,000 after purchasing an additional 126 shares during the period. Institutional investors and hedge funds own 86.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on IESC shares. Freedom Capital downgraded IES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Wall Street Zen cut IES from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of IES in a report 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $458.00.

IES Stock Performance

NASDAQ:IESC opened at $626.07 on Monday. The company has a market cap of $12.47 billion, a price-to-earnings ratio of 33.39 and a beta of 1.78. IES Holdings, Inc. has a fifty-two week low of $309.51 and a fifty-two week high of $804.00. The stock has a fifty day moving average price of $680.83 and a 200-day moving average price of $564.88.

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 net margin of 10.40% and a return on equity of 33.97%. The company had revenue of $974.20 million during the quarter, compared to the consensus estimate of $1.01 billion.

Insider Buying and Selling at IES

In related news, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $756.47, for a total transaction of $35,342,278.40. Following the sale, the chairman owned 10,406,559 shares of the company’s stock, valued at $7,872,249,686.73. This trade represents a 0.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Todd M. Cleveland sold 5,000 shares of IES stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $761.89, for a total value of $3,809,450.00. Following the sale, the director directly owned 60,874 shares in the company, valued at $46,379,291.86. The trade was a 7.59% 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 worth $146,518,202 over the last quarter. Corporate insiders own 56.43% of the company’s stock.

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.