MAI Capital Management Sells 400 Shares of IES Holdings, Inc. $IESC

MAI Capital Management cut its stake in shares of IES Holdings, Inc. (NASDAQ:IESC) by 27.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,070 shares of the technology company’s stock after selling 400 shares during the quarter. MAI Capital Management’s holdings in IES were worth $317,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Lord Abbett & CO. LLC bought a new stake in IES in the first quarter valued at approximately $16,853,000. United Capital Management of KS Inc. purchased a new position in shares of IES in the second quarter worth $13,589,000. Congress Asset Management Co. bought a new stake in IES during the 2nd quarter valued at $10,265,000. Nuveen LLC bought a new stake in IES during the 1st quarter valued at $5,193,000. Finally, Swedbank AB purchased a new stake in IES during the 1st quarter valued at $3,137,000. 86.60% of the stock is owned by hedge funds and other institutional investors.

IES Trading Up 3.3%

IES stock opened at $420.75 on Thursday. IES Holdings, Inc. has a 52-week low of $146.51 and a 52-week high of $442.93. The company has a market cap of $8.35 billion, a P/E ratio of 32.14 and a beta of 1.70. The company has a quick ratio of 1.65, a current ratio of 1.85 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $389.42 and a two-hundred day simple moving average of $337.88.

IES (NASDAQ:IESC) last posted its quarterly earnings data on Friday, November 21st. The technology company reported $3.77 earnings per share (EPS) for the quarter. The company had revenue of $897.80 million for the quarter. IES had a net margin of 8.15% and a return on equity of 37.23%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IESC. Wall Street Zen downgraded shares of IES from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of IES in a research note on Monday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy”.

Insider Activity at IES

In related news, Chairman Jeffrey L. Et Al Gendell sold 6,811 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $380.74, for a total value of $2,593,220.14. Following the completion of the transaction, the chairman owned 10,769,717 shares of the company’s stock, valued at approximately $4,100,462,050.58. This represents a 0.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 86,811 shares of company stock worth $32,635,682. 56.76% of the stock is owned by company insiders.

About IES

IES Holdings, Inc engages in the design and installation of integrated electrical and technology systems, and provides infrastructure products and services in the United States. The Communications segment designs, installs, and maintains network infrastructure within data centers for co-location and managed hosting customers; corporate, educational, financial, hospitality, and healthcare buildings; e-commerce distribution centers; and high-tech manufacturing facilities.