Ascentis Independent Advisors Acquires 981 Shares of IES Holdings, Inc. $IESC

Ascentis Independent Advisors raised its holdings in IES Holdings, Inc. (NASDAQ:IESC) by 95.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,006 shares of the technology company’s stock after acquiring an additional 981 shares during the period. Ascentis Independent Advisors’ holdings in IES were worth $956,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in shares of IES in the 4th quarter valued at approximately $38,000. Steward Partners Investment Advisory LLC increased its position in 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 in the last quarter. Global Retirement Partners LLC lifted its stake in 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 last quarter. Larson Financial Group LLC lifted its stake in 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 last quarter. Finally, Greenline Wealth Management LLC acquired a new stake in IES in the fourth quarter valued at approximately $56,000. Institutional investors own 86.60% of the company’s stock.

Insider Buying and Selling

In other IES news, Director Todd M. Cleveland sold 11,578 shares of IES stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $663.52, for a total transaction of $7,682,234.56. Following the transaction, the director directly owned 65,817 shares of the company’s stock, valued at approximately $43,670,895.84. The trade was a 14.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the stock in a transaction dated 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 sale, the chairman directly owned 10,406,559 shares of the company’s stock, valued at approximately $7,872,249,686.73. The trade was a 0.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 208,102 shares of company stock valued at $146,518,202 in the last quarter. 56.43% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

IESC has been the subject of several research analyst reports. Wall Street Zen downgraded shares of IES from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Weiss Ratings restated a “buy (b)” rating on shares of IES in a research report on Thursday, June 18th. Finally, Freedom Capital cut IES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $458.00.

IES Price Performance

IESC opened at $609.47 on Wednesday. IES Holdings, Inc. has a fifty-two week low of $291.00 and a fifty-two week high of $804.00. The company’s 50 day moving average price is $687.45 and its two-hundred day moving average price is $544.15. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 32.51 and a beta of 1.78.

IES (NASDAQ:IESC) last issued its quarterly earnings results on Friday, May 1st. The technology company reported $4.16 EPS 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 for the quarter, compared to analyst estimates of $1.01 billion.

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.