Arrowstreet Capital Limited Partnership Purchases 36,845 Shares of IES Holdings, Inc. $IESC

Arrowstreet Capital Limited Partnership boosted its holdings in shares of IES Holdings, Inc. (NASDAQ:IESC) by 50.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,313 shares of the technology company’s stock after purchasing an additional 36,845 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.56% of IES worth $32,678,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of IES by 4.8% in the second quarter. Geode Capital Management LLC now owns 263,993 shares of the technology company’s stock worth $78,210,000 after acquiring an additional 12,026 shares during the last quarter. Franklin Resources Inc. increased its position in IES by 17.0% in the 2nd quarter. Franklin Resources Inc. now owns 149,573 shares of the technology company’s stock valued at $44,308,000 after acquiring an additional 21,738 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of IES during the first quarter worth $16,853,000. American Century Companies Inc. grew its stake in shares of IES by 42.6% in the second quarter. American Century Companies Inc. now owns 76,551 shares of the technology company’s stock worth $22,677,000 after purchasing an additional 22,852 shares during the last quarter. Finally, LPL Financial LLC increased its holdings in IES by 6.1% in the first quarter. LPL Financial LLC now owns 49,264 shares of the technology company’s stock valued at $8,134,000 after purchasing an additional 2,838 shares during the period. Institutional investors own 86.60% of the company’s stock.

Insider Activity at IES

In related news, CEO Matthew J. Simmes sold 10,000 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $406.96, for a total transaction of $4,069,600.00. Following the transaction, the chief executive officer directly owned 98,575 shares in the company, valued at approximately $40,116,082. The trade was a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Tracy Mclauchlin sold 5,000 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $411.48, for a total transaction of $2,057,400.00. Following the completion of the sale, the chief financial officer owned 65,525 shares of the company’s stock, valued at approximately $26,962,227. This trade represents a 7.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 201,811 shares of company stock valued at $80,820,837 over the last ninety days. Corporate insiders own 56.76% of the company’s stock.

Analysts Set New Price Targets

IESC has been the subject of several analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of IES in a report on Monday, December 1st. Wall Street Zen upgraded IES from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 30th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy”.

IES Price Performance

NASDAQ:IESC opened at $428.62 on Friday. IES Holdings, Inc. has a one year low of $146.51 and a one year high of $442.93. The company has a market cap of $8.51 billion, a PE ratio of 28.54 and a beta of 1.75. The firm has a 50-day moving average of $394.19 and a 200-day moving average of $345.49.

IES (NASDAQ:IESC) last released its quarterly earnings results on Friday, November 21st. The technology company reported $3.77 earnings per share (EPS) for the quarter. The business had revenue of $897.80 million during the quarter. IES had a return on equity of 36.43% and a net margin of 8.99%.

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.