Legato Capital Management LLC Cuts Stake in IES Holdings, Inc. $IESC

Legato Capital Management LLC lessened its stake in shares of IES Holdings, Inc. (NASDAQ:IESC) by 13.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 30,333 shares of the technology company’s stock after selling 4,880 shares during the period. IES accounts for about 1.0% of Legato Capital Management LLC’s portfolio, making the stock its 5th biggest position. Legato Capital Management LLC’s holdings in IES were worth $11,800,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Global Retirement Partners LLC lifted its position 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 acquiring an additional 46 shares in the last quarter. IFP Advisors Inc lifted its position in IES by 50.5% in the 4th quarter. IFP Advisors Inc now owns 319 shares of the technology company’s stock valued at $124,000 after acquiring an additional 107 shares in the last quarter. Larson Financial Group LLC lifted its position 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 acquiring an additional 126 shares in the last quarter. Handelsbanken Fonder AB lifted its position in IES by 13.2% in the 4th quarter. Handelsbanken Fonder AB now owns 5,660 shares of the technology company’s stock valued at $2,202,000 after acquiring an additional 660 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in IES by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 1,652 shares of the technology company’s stock valued at $643,000 after acquiring an additional 106 shares in the last quarter. Institutional investors own 86.60% of the company’s stock.

IES Stock Performance

NASDAQ:IESC opened at $659.65 on Friday. The firm has a market cap of $13.15 billion, a price-to-earnings ratio of 35.18 and a beta of 1.81. IES Holdings, Inc. has a 52 week low of $239.23 and a 52 week high of $700.20. The firm has a 50-day moving average price of $555.02 and a two-hundred day moving average price of $476.57.

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Loop Capital set a $458.00 price target on shares of IES in a research report on Tuesday, February 3rd. Wall Street Zen cut shares of IES from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Finally, Freedom Capital cut shares of IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, IES currently has an average rating of “Moderate Buy” and a consensus price target of $458.00.

Insider Activity

In other IES news, CEO Matthew J. Simmes sold 7,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $658.24, for a total value of $4,607,680.00. Following the completion of the sale, the chief executive officer owned 86,575 shares in the company, valued at approximately $56,987,128. This trade represents a 7.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Todd M. Cleveland sold 11,578 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $663.52, for a total transaction of $7,682,234.56. Following the completion of the sale, the director owned 65,817 shares of the company’s stock, valued at approximately $43,670,895.84. This trade represents a 14.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 131,517 shares of company stock worth $88,341,138. Corporate insiders own 56.43% of the company’s stock.

About IES

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.