IES Holdings, Inc. $IESC Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC decreased its holdings in IES Holdings, Inc. (NASDAQ:IESC) by 43.5% in the 4th quarter, HoldingsChannel reports. The firm owned 1,794 shares of the technology company’s stock after selling 1,380 shares during the quarter. Corient Private Wealth LLC’s holdings in IES were worth $698,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the stock. First Trust Advisors LP raised its holdings in IES by 982.7% during the third quarter. First Trust Advisors LP now owns 323,893 shares of the technology company’s stock worth $128,796,000 after purchasing an additional 293,977 shares in the last quarter. Geode Capital Management LLC lifted its holdings in IES by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 274,725 shares of the technology company’s stock valued at $106,887,000 after acquiring an additional 6,349 shares during the last quarter. Pertento Partners LLP boosted its position in shares of IES by 17.1% during the 4th quarter. Pertento Partners LLP now owns 209,351 shares of the technology company’s stock valued at $81,442,000 after purchasing an additional 30,583 shares in the last quarter. State Street Corp boosted its position in shares of IES by 1.2% during the 4th quarter. State Street Corp now owns 205,905 shares of the technology company’s stock valued at $80,101,000 after purchasing an additional 2,517 shares in the last quarter. Finally, Morgan Stanley grew its stake in shares of IES by 7.7% in the 4th quarter. Morgan Stanley now owns 171,488 shares of the technology company’s stock worth $66,713,000 after purchasing an additional 12,232 shares during the last quarter. Institutional investors and hedge funds own 86.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on IESC. Weiss Ratings restated a “buy (b)” rating on shares of IES in a research report on Thursday, June 18th. Freedom Capital cut IES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, Wall Street Zen lowered IES from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, IES has a consensus rating of “Moderate Buy” and an average price target of $458.00.

Insiders Place Their Bets

In other IES news, Director Todd M. Cleveland sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $761.89, for a total value of $3,809,450.00. Following the completion of the sale, the director directly owned 60,874 shares of the company’s stock, valued at $46,379,291.86. The trade was a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $756.47, for a total transaction of $35,342,278.40. Following the transaction, the chairman directly owned 10,406,559 shares in the company, valued at $7,872,249,686.73. The trade was a 0.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 208,102 shares of company stock valued at $146,518,202 over the last ninety days. Corporate insiders own 56.43% of the company’s stock.

IES Price Performance

Shares of NASDAQ:IESC opened at $654.00 on Friday. The firm has a market capitalization of $13.03 billion, a P/E ratio of 34.88 and a beta of 1.78. IES Holdings, Inc. has a 12-month low of $291.00 and a 12-month high of $804.00. The firm has a fifty day moving average of $685.57 and a two-hundred day moving average of $540.48.

IES (NASDAQ:IESC) last released its quarterly earnings data on Friday, May 1st. The technology company reported $4.16 EPS for the quarter, topping analysts’ consensus estimates of $3.95 by $0.21. The firm had revenue of $974.20 million for the quarter, compared to the consensus estimate of $1.01 billion. IES had a return on equity of 33.97% and a net margin of 10.40%.

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.