Swedbank AB Sells 16,000 Shares of IES Holdings, Inc. $IESC

Swedbank AB decreased its stake in IES Holdings, Inc. (NASDAQ:IESC) by 19.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,000 shares of the technology company’s stock after selling 16,000 shares during the period. Swedbank AB owned about 0.33% of IES worth $25,286,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. grew its holdings in shares of IES by 157.9% during the 3rd 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 last quarter. International Assets Investment Management LLC bought a new position in shares of IES during the 4th quarter valued at $38,000. Global Retirement Partners LLC grew its holdings in shares of IES by 59.0% during the 4th quarter. Global Retirement Partners LLC now owns 124 shares of the technology company’s stock valued at $48,000 after purchasing an additional 46 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of IES by 91.3% during the 3rd quarter. Federated Hermes Inc. now owns 132 shares of the technology company’s stock valued at $52,000 after purchasing an additional 63 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of IES by 2,100.0% during the 4th quarter. Larson Financial Group LLC now owns 132 shares of the technology company’s stock valued at $51,000 after purchasing an additional 126 shares during the last quarter. Institutional investors own 86.60% of the company’s stock.

Insider Activity

In other IES news, CEO Matthew J. Simmes sold 7,000 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $658.24, for a total transaction of $4,607,680.00. Following the completion of the sale, the chief executive officer owned 86,575 shares of the company’s stock, valued at $56,987,128. This represents a 7.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Todd M. Cleveland sold 11,578 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $663.52, for a total transaction of $7,682,234.56. Following the sale, the director directly owned 65,817 shares of the company’s stock, valued at $43,670,895.84. The trade was a 14.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 131,336 shares of company stock worth $88,246,972. 56.43% of the stock is currently owned by corporate insiders.

IES Price Performance

Shares of IESC opened at $659.65 on Tuesday. The stock has a market capitalization of $13.15 billion, a P/E ratio of 35.18 and a beta of 1.81. The firm has a fifty day simple moving average of $559.50 and a two-hundred day simple moving average of $479.06. IES Holdings, Inc. has a twelve month low of $239.23 and a twelve month high of $700.20.

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

Wall Street Analyst Weigh In

Several research firms recently commented on IESC. Freedom Capital lowered shares of IES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Wall Street Zen lowered shares of IES from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Finally, Loop Capital set a $458.00 target price on shares of IES in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, IES presently has an average rating of “Moderate Buy” and an average 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.