Bank of America Corp DE Lowers Stock Holdings in IES Holdings, Inc. (NASDAQ:IESC)

Bank of America Corp DE decreased its position in shares of IES Holdings, Inc. (NASDAQ:IESC) by 15.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,806 shares of the technology company’s stock after selling 1,619 shares during the period. Bank of America Corp DE’s holdings in IES were worth $1,770,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. J.Safra Asset Management Corp raised its position in IES by 56.8% during the fourth quarter. J.Safra Asset Management Corp now owns 138 shares of the technology company’s stock valued at $28,000 after purchasing an additional 50 shares in the last quarter. Smithfield Trust Co purchased a new position in shares of IES in the fourth quarter worth about $34,000. National Bank of Canada FI purchased a new position in shares of IES in the fourth quarter worth about $54,000. Harbour Investments Inc. purchased a new position in shares of IES in the fourth quarter worth about $71,000. Finally, Jones Financial Companies Lllp purchased a new position in shares of IES in the fourth quarter worth about $74,000. Hedge funds and other institutional investors own 86.60% of the company’s stock.

IES Trading Up 2.9%

IESC opened at $271.80 on Wednesday. The company has a market cap of $5.40 billion, a P/E ratio of 25.31 and a beta of 1.57. IES Holdings, Inc. has a 12 month low of $124.55 and a 12 month high of $320.09. The business’s 50-day moving average price is $214.63 and its 200-day moving average price is $221.32.

IES (NASDAQ:IESC) last posted its earnings results on Friday, May 2nd. The technology company reported $3.30 earnings per share (EPS) for the quarter. The company had revenue of $834.00 million for the quarter. IES had a return on equity of 35.81% and a net margin of 7.30%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded IES from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

About IES

IES Holdings, Inc engages in the design and installation of integrated electrical and technology systems, and provides infrastructure products and services in the United States. The Communications segment designs, installs, and maintains network infrastructure within data centers for co-location and managed hosting customers; corporate, educational, financial, hospitality, and healthcare buildings; e-commerce distribution centers; and high-tech manufacturing facilities.