Oppenheimer Asset Management Inc. Makes New $270,000 Investment in IES Holdings, Inc. $IESC

Oppenheimer Asset Management Inc. purchased a new position in shares of IES Holdings, Inc. (NASDAQ:IESC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 913 shares of the technology company’s stock, valued at approximately $270,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of IESC. Principal Financial Group Inc. boosted its holdings in shares of IES by 1.1% during the 1st quarter. Principal Financial Group Inc. now owns 8,447 shares of the technology company’s stock worth $1,395,000 after buying an additional 95 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of IES during the first quarter worth approximately $36,000. Bank of New York Mellon Corp raised its position in shares of IES by 9.8% during the first quarter. Bank of New York Mellon Corp now owns 25,428 shares of the technology company’s stock worth $4,198,000 after purchasing an additional 2,273 shares during the period. CWM LLC raised its position in shares of IES by 50.8% during the first quarter. CWM LLC now owns 1,354 shares of the technology company’s stock worth $224,000 after purchasing an additional 456 shares during the period. Finally, Florida Financial Advisors LLC acquired a new position in shares of IES during the first quarter worth approximately $250,000. 86.60% of the stock is currently owned by institutional investors.

IES Price Performance

Shares of NASDAQ:IESC opened at $391.88 on Monday. The company has a current ratio of 1.85, a quick ratio of 1.65 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $380.13 and its two-hundred day simple moving average is $316.40. IES Holdings, Inc. has a 1-year low of $146.51 and a 1-year high of $442.93. The stock has a market cap of $7.78 billion, a PE ratio of 29.94 and a beta of 1.70.

IES (NASDAQ:IESC) last issued its quarterly earnings data on Friday, August 1st. The technology company reported $3.95 earnings per share for the quarter, beating the consensus estimate of $3.55 by $0.40. IES had a return on equity of 37.23% and a net margin of 8.15%.The business had revenue of $890.20 million for the quarter, compared to analysts’ expectations of $833.00 million.

Insiders Place Their Bets

In other IES news, Chairman Jeffrey L. Et Al Gendell sold 55,500 shares of the firm’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $373.92, for a total transaction of $20,752,560.00. Following the transaction, the chairman directly owned 10,801,028 shares in the company, valued at approximately $4,038,720,389.76. This trade represents a 0.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 145,837 shares of company stock worth $53,984,109. 56.76% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IESC. Wall Street Zen raised IES from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of IES in a report on Tuesday, October 14th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, IES has an average rating of “Buy”.

IES Profile

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.