Swedbank AB Reduces Holdings in IES Holdings, Inc. $IESC

Swedbank AB trimmed its stake in IES Holdings, Inc. (NASDAQ:IESC) by 19.8% in the 4th quarter, HoldingsChannel reports. The firm owned 65,000 shares of the technology company’s stock after selling 16,000 shares during the quarter. Swedbank AB’s holdings in IES were worth $25,286,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of IES in the 4th quarter worth about $38,000. SBI Securities Co. Ltd. lifted its position in shares of IES by 157.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 98 shares of the technology company’s stock worth $39,000 after purchasing an additional 60 shares during the period. Global Retirement Partners LLC lifted its position 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 worth $48,000 after purchasing an additional 46 shares during the period. Larson Financial Group LLC lifted its position 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 worth $51,000 after purchasing an additional 126 shares during the period. Finally, Federated Hermes Inc. lifted its position in shares of IES by 91.3% in the 3rd quarter. Federated Hermes Inc. now owns 132 shares of the technology company’s stock worth $52,000 after purchasing an additional 63 shares during the period. 86.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on IESC shares. 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 research note on Sunday, May 10th. Finally, Loop Capital set a $458.00 price target on shares of IES in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $458.00.

IES Price Performance

Shares of IES stock opened at $659.65 on Tuesday. The company has a 50-day moving average of $559.50 and a 200 day moving average of $479.06. 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 1 year low of $239.23 and a 1 year high of $700.20.

IES (NASDAQ:IESC) last issued its quarterly earnings results on Friday, May 1st. The technology company reported $4.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.95 by $0.21. The company 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%.

Insider Activity

In other IES news, Director Todd M. Cleveland sold 11,578 shares of the firm’s 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 directly owned 65,817 shares in the company, valued at approximately $43,670,895.84. This trade represents a 14.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew J. Simmes sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $658.24, for a total transaction of $4,607,680.00. Following the sale, the chief executive officer owned 86,575 shares of the company’s stock, valued at approximately $56,987,128. This represents a 7.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 131,336 shares of company stock valued at $88,246,972 in the last quarter. 56.43% of the stock is owned by company insiders.

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.