Swiss Life Asset Management Ltd Purchases New Stake in IES Holdings, Inc. $IESC

Swiss Life Asset Management Ltd purchased a new stake in shares of IES Holdings, Inc. (NASDAQ:IESC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 874 shares of the technology company’s stock, valued at approximately $340,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IESC. First Trust Advisors LP raised its holdings in IES by 982.7% during the 3rd quarter. First Trust Advisors LP now owns 323,893 shares of the technology company’s stock valued at $128,796,000 after buying an additional 293,977 shares during the last quarter. SG Capital Management LLC bought a new stake in IES during the 3rd quarter valued at $38,609,000. Parsifal Capital Management LP bought a new position in IES in the 3rd quarter worth $25,768,000. Raymond James Financial Inc. raised its holdings in IES by 3,965.1% in the 3rd quarter. Raymond James Financial Inc. now owns 31,830 shares of the technology company’s stock worth $12,657,000 after purchasing an additional 31,047 shares in the last quarter. Finally, UBS Group AG raised its holdings in IES by 56.2% in the 3rd quarter. UBS Group AG now owns 84,556 shares of the technology company’s stock worth $33,624,000 after purchasing an additional 30,433 shares in the last quarter. 86.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

IES Trading Down 4.1%

Shares of NASDAQ IESC opened at $654.28 on Tuesday. IES Holdings, Inc. has a 12 month low of $235.99 and a 12 month high of $700.20. The firm has a market capitalization of $13.04 billion, a PE ratio of 34.89 and a beta of 1.81. The firm has a fifty day simple moving average of $538.39 and a two-hundred day simple moving average of $470.04.

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

Insider Buying and Selling at IES

In other news, CFO Tracy Mclauchlin sold 3,000 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $662.61, for a total value of $1,987,830.00. Following the sale, the chief financial officer directly owned 62,525 shares of the company’s stock, valued at $41,429,690.25. This represents a 4.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Todd M. Cleveland sold 11,578 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $663.52, for a total transaction of $7,682,234.56. Following the completion of the sale, the director directly owned 65,817 shares in the company, valued at $43,670,895.84. This represents a 14.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 136,517 shares of company stock valued at $90,872,438 over the last 90 days. 56.43% of the stock is owned by corporate insiders.

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.