Renaissance Group LLC Invests $6.25 Million in IES Holdings, Inc. $IESC

Renaissance Group LLC purchased a new position in shares of IES Holdings, Inc. (NASDAQ:IESC) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 16,071 shares of the technology company’s stock, valued at approximately $6,252,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. First Trust Advisors LP grew its stake in shares of IES by 982.7% during the 3rd quarter. First Trust Advisors LP now owns 323,893 shares of the technology company’s stock worth $128,796,000 after acquiring an additional 293,977 shares during the period. Geode Capital Management LLC grew its stake in shares of IES by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 274,725 shares of the technology company’s stock worth $106,887,000 after acquiring an additional 6,349 shares during the period. Pertento Partners LLP grew its stake in shares of IES by 12.9% during the 3rd quarter. Pertento Partners LLP now owns 178,768 shares of the technology company’s stock worth $71,087,000 after acquiring an additional 20,390 shares during the period. AltraVue Capital LLC grew its stake in shares of IES by 2.1% during the 3rd quarter. AltraVue Capital LLC now owns 166,267 shares of the technology company’s stock worth $66,116,000 after acquiring an additional 3,370 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of IES by 3.7% during the 3rd quarter. Franklin Resources Inc. now owns 155,115 shares of the technology company’s stock worth $61,681,000 after acquiring an additional 5,542 shares during the period. Institutional investors own 86.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on IESC. Wall Street Zen downgraded IES from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Freedom Capital downgraded IES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $458.00.

IES Stock Down 6.6%

NASDAQ:IESC opened at $678.20 on Thursday. The business’s 50-day moving average price is $618.41 and its two-hundred day moving average price is $506.64. IES Holdings, Inc. has a twelve month low of $261.11 and a twelve month high of $768.00. The stock has a market cap of $13.51 billion, a P/E ratio of 36.17 and a beta of 1.78.

IES (NASDAQ:IESC) last released 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. IES had a return on equity of 33.97% and a net margin of 10.40%.The firm had revenue of $974.20 million for the quarter, compared to analysts’ expectations of $1.01 billion.

Insiders Place Their Bets

In other IES news, Chairman Jeffrey L. Et Al Gendell sold 30,310 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $705.93, for a total value of $21,396,738.30. Following the sale, the chairman owned 10,453,279 shares of the company’s stock, valued at $7,379,283,244.47. This trade represents a 0.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Tracy Mclauchlin sold 3,000 shares of the firm’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 completion of the sale, the chief financial officer directly owned 62,525 shares in the company, valued at approximately $41,429,690.25. The trade was a 4.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 156,382 shares of company stock worth $107,366,474. 56.43% of the stock is currently owned by 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.