First Trust Advisors LP Boosts Stock Holdings in IES Holdings, Inc. $IESC

First Trust Advisors LP raised its position in shares of IES Holdings, Inc. (NASDAQ:IESC) by 982.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 323,893 shares of the technology company’s stock after acquiring an additional 293,977 shares during the quarter. First Trust Advisors LP owned approximately 1.63% of IES worth $128,796,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC boosted its stake 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. AltraVue Capital LLC raised its stake in IES by 2.1% in the 3rd quarter. AltraVue Capital LLC now owns 166,267 shares of the technology company’s stock valued at $66,116,000 after purchasing an additional 3,370 shares during the last quarter. Pertento Partners LLP purchased a new position in IES in the 2nd quarter valued at $46,916,000. Franklin Resources Inc. boosted its stake in IES by 17.0% during the 2nd quarter. Franklin Resources Inc. now owns 149,573 shares of the technology company’s stock worth $44,308,000 after purchasing an additional 21,738 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in IES by 50.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 110,313 shares of the technology company’s stock worth $32,678,000 after purchasing an additional 36,845 shares during the last quarter. Hedge funds and other institutional investors own 86.60% of the company’s stock.

Wall Street Analysts Forecast Growth

IESC has been the subject of a number of recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of IES in a research report on Monday, December 22nd. Wall Street Zen lowered shares of IES from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 7th. Finally, Loop Capital set a $458.00 price objective on shares of IES in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $458.00.

IES Stock Performance

Shares of IES stock opened at $430.65 on Monday. The business’s 50 day moving average price is $454.77 and its 200 day moving average price is $413.61. The company has a market cap of $8.58 billion, a price-to-earnings ratio of 25.62 and a beta of 1.68. IES Holdings, Inc. has a one year low of $146.51 and a one year high of $537.70.

IES (NASDAQ:IESC) last issued its earnings results on Friday, January 30th. The technology company reported $3.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.94 by ($0.23). IES had a net margin of 9.70% and a return on equity of 35.62%. The company had revenue of $870.96 million during the quarter, compared to analysts’ expectations of $876.00 million.

Insider Activity

In related news, Director David B. Gendell sold 17,867 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $452.20, for a total transaction of $8,079,457.40. Following the completion of the sale, the director directly owned 70,669 shares in the company, valued at approximately $31,956,521.80. This trade represents a 20.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew J. Simmes sold 5,000 shares of IES stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $506.26, for a total transaction of $2,531,300.00. Following the transaction, the chief executive officer directly owned 93,575 shares in the company, valued at $47,373,279.50. This trade represents a 5.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 123,320 shares of company stock worth $58,839,170. 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.