Palisades Investment Partners LLC Acquires Shares of 13,314 IES Holdings, Inc. $IESC

Palisades Investment Partners LLC bought a new position in IES Holdings, Inc. (NASDAQ:IESC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 13,314 shares of the technology company’s stock, valued at approximately $5,294,000. IES comprises 2.1% of Palisades Investment Partners LLC’s portfolio, making the stock its 22nd biggest position. Palisades Investment Partners LLC owned 0.07% of IES at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in IESC. Geode Capital Management LLC grew its stake in shares of IES by 4.8% during the second quarter. Geode Capital Management LLC now owns 263,993 shares of the technology company’s stock valued at $78,210,000 after buying an additional 12,026 shares during the last quarter. Pertento Partners LLP purchased a new position in IES during the 2nd quarter valued at $46,916,000. Franklin Resources Inc. grew 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 last quarter. Arrowstreet Capital Limited Partnership increased its stake in IES by 50.2% in the second 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 period. Finally, Invesco Ltd. lifted its position in shares of IES by 43.7% during the second quarter. Invesco Ltd. now owns 91,567 shares of the technology company’s stock worth $27,125,000 after purchasing an additional 27,849 shares during the last quarter. 86.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at IES

In other IES news, Chairman Jeffrey L. Et Al Gendell sold 76,400 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $473.25, for a total transaction of $36,156,300.00. Following the completion of the sale, the chairman owned 10,595,320 shares in the company, valued at $5,014,235,190. This represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $8,079,457.40. Following the sale, the director directly owned 70,669 shares in the company, valued at approximately $31,956,521.80. The trade was a 20.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 217,661 shares of company stock valued at $96,387,385 over the last 90 days. Insiders own 56.43% of the company’s stock.

IES Price Performance

Shares of IES stock opened at $461.51 on Friday. The stock has a market cap of $9.20 billion, a price-to-earnings ratio of 30.73 and a beta of 1.73. The firm’s 50-day moving average is $417.48 and its two-hundred day moving average is $381.93. IES Holdings, Inc. has a 1 year low of $146.51 and a 1 year high of $482.35.

IES (NASDAQ:IESC) last posted its quarterly earnings results on Friday, November 21st. The technology company reported $3.77 EPS for the quarter. IES had a net margin of 8.99% and a return on equity of 38.61%. The business had revenue of $897.80 million during the quarter.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wall Street Zen upgraded shares of IES from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 30th. Weiss Ratings reissued a “buy (b)” rating on shares of IES in a research report on Monday, December 22nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy”.

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.