State of Wyoming Trims Stock Position in IES Holdings, Inc. $IESC

State of Wyoming trimmed its position in shares of IES Holdings, Inc. (NASDAQ:IESC) by 23.8% during the 1st quarter, Holdings Channel reports. The fund owned 17,722 shares of the technology company’s stock after selling 5,540 shares during the period. IES makes up approximately 1.0% of State of Wyoming’s investment portfolio, making the stock its 6th biggest position. State of Wyoming’s holdings in IES were worth $8,444,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IESC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of IES by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,904 shares of the technology company’s stock valued at $810,000 after purchasing an additional 223 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in IES by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 22,787 shares of the technology company’s stock valued at $3,762,000 after purchasing an additional 1,435 shares in the last quarter. Prudential Financial Inc. bought a new position in IES during the second quarter valued at $365,000. Quantbot Technologies LP bought a new position in IES during the second quarter valued at $89,000. Finally, Invesco Ltd. grew its stake in shares of IES by 43.7% in the 2nd quarter. Invesco Ltd. now owns 91,567 shares of the technology company’s stock worth $27,125,000 after buying an additional 27,849 shares in the last quarter. 86.60% of the stock is currently owned by institutional investors.

IES Stock Up 4.1%

Shares of IESC opened at $674.20 on Thursday. The business has a fifty day moving average of $682.62 and a 200 day moving average of $561.65. The company has a market cap of $13.43 billion, a PE ratio of 35.96 and a beta of 1.78. IES Holdings, Inc. has a 52-week low of $309.51 and a 52-week high of $804.00.

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

Insider Activity

In related news, CFO Tracy Mclauchlin sold 3,000 shares of the 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 document filed with the SEC, which is available through this hyperlink. Also, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $756.47, for a total transaction of $35,342,278.40. Following the completion of the sale, the chairman directly owned 10,406,559 shares of the company’s stock, valued at approximately $7,872,249,686.73. The trade was a 0.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 208,102 shares of company stock valued at $146,518,202 in the last quarter. 56.43% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IESC. Wall Street Zen downgraded shares of IES from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of IES in a research report on Thursday, June 18th. Finally, Freedom Capital cut 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 issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $458.00.

About IES

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.