Arete Wealth Advisors LLC Raises Stake in IES Holdings, Inc. $IESC

Arete Wealth Advisors LLC boosted its holdings in IES Holdings, Inc. (NASDAQ:IESC) by 260.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,254 shares of the technology company’s stock after buying an additional 3,795 shares during the period. Arete Wealth Advisors LLC’s holdings in IES were worth $2,089,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. American Century Companies Inc. grew its holdings in IES by 14.8% during the 3rd quarter. American Century Companies Inc. now owns 87,862 shares of the technology company’s stock valued at $34,938,000 after buying an additional 11,311 shares in the last quarter. US Bancorp DE boosted its holdings in shares of IES by 255.0% in the third quarter. US Bancorp DE now owns 213 shares of the technology company’s stock valued at $85,000 after purchasing an additional 153 shares during the period. Darden Wealth Group Inc bought a new position in shares of IES during the 3rd quarter worth $207,000. SG Capital Management LLC purchased a new stake in shares of IES in the 3rd quarter worth approximately $38,609,000. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in shares of IES by 390.6% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 628 shares of the technology company’s stock valued at $250,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 86.60% of the company’s stock.

Insider Buying and Selling

In other news, CEO Matthew J. Simmes sold 5,000 shares of the firm’s stock in a transaction on 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 completion of 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Todd M. Cleveland sold 1,700 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $511.29, for a total value of $869,193.00. Following the transaction, the director owned 80,817 shares of the company’s stock, valued at $41,320,923.93. This trade represents a 2.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 225,820 shares of company stock valued at $101,699,831. 56.43% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IESC. Loop Capital set a $458.00 target price on shares of IES in a research report on Tuesday, February 3rd. Wall Street Zen cut shares of IES from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of IES in a report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, IES presently has a consensus rating of “Buy” and an average price target of $458.00.

IES Price Performance

IESC stock opened at $495.35 on Monday. IES Holdings, Inc. has a 1 year low of $146.51 and a 1 year high of $537.70. The firm has a market capitalization of $9.87 billion, a PE ratio of 29.47 and a beta of 1.68. The business has a 50 day simple moving average of $448.66 and a 200-day simple moving average of $408.79.

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

IES Company Profile

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.