Navellier & Associates Inc. Cuts Position in IES Holdings, Inc. $IESC

Navellier & Associates Inc. trimmed its holdings in shares of IES Holdings, Inc. (NASDAQ:IESC) by 44.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,755 shares of the technology company’s stock after selling 2,244 shares during the period. Navellier & Associates Inc.’s holdings in IES were worth $1,072,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of IESC. Global Retirement Partners LLC raised its stake in shares of IES by 1,014.3% in the 3rd quarter. Global Retirement Partners LLC now owns 78 shares of the technology company’s stock valued at $31,000 after acquiring an additional 71 shares during the period. SBI Securities Co. Ltd. raised its position in IES by 157.9% in the third quarter. SBI Securities Co. Ltd. now owns 98 shares of the technology company’s stock valued at $39,000 after purchasing an additional 60 shares during the period. Spire Wealth Management acquired a new position in shares of IES during the third quarter worth about $40,000. Federated Hermes Inc. boosted its position in shares of IES by 91.3% in the third quarter. Federated Hermes Inc. now owns 132 shares of the technology company’s stock worth $52,000 after buying an additional 63 shares during the period. Finally, IFP Advisors Inc boosted its position in shares of IES by 77.1% in the third quarter. IFP Advisors Inc now owns 147 shares of the technology company’s stock worth $58,000 after buying an additional 64 shares during the period. 86.60% of the stock is currently owned by hedge funds and other institutional investors.

IES Price Performance

NASDAQ IESC opened at $673.84 on Thursday. The company has a market capitalization of $13.43 billion, a price-to-earnings ratio of 35.94 and a beta of 1.81. IES Holdings, Inc. has a 12 month low of $235.94 and a 12 month high of $688.51. The company’s fifty day moving average price is $508.75 and its two-hundred day moving average price is $454.28.

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

Insider Activity at IES

In other news, Director Todd M. Cleveland sold 1,425 shares of IES stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $500.84, for a total value of $713,697.00. Following the completion of the transaction, the director owned 78,089 shares in the company, valued at approximately $39,110,094.76. This trade represents a 1.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew J. Simmes sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $506.26, for a total value of $2,531,300.00. Following the completion of the sale, the chief executive officer owned 93,575 shares of the company’s stock, valued at $47,373,279.50. This trade represents a 5.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 20,659 shares of company stock valued at $10,636,940 over the last three months. 56.43% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IESC. Wall Street Zen upgraded IES from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Freedom Capital cut IES from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, Loop Capital set a $458.00 price objective on shares of IES in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $458.00.

IES 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.