Royce & Associates LP Lowers Position in IES Holdings, Inc. $IESC

Royce & Associates LP cut its holdings in IES Holdings, Inc. (NASDAQ:IESC) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 171,343 shares of the technology company’s stock after selling 5,085 shares during the quarter. IES makes up about 0.7% of Royce & Associates LP’s investment portfolio, making the stock its 13th largest position. Royce & Associates LP owned approximately 0.86% of IES worth $66,656,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in IESC. International Assets Investment Management LLC purchased a new stake in IES in the fourth quarter worth about $38,000. SBI Securities Co. Ltd. lifted its stake in IES by 157.9% in the third quarter. SBI Securities Co. Ltd. now owns 98 shares of the technology company’s stock worth $39,000 after acquiring an additional 60 shares during the period. Global Retirement Partners LLC lifted its stake in IES by 59.0% in the fourth quarter. Global Retirement Partners LLC now owns 124 shares of the technology company’s stock worth $48,000 after acquiring an additional 46 shares during the period. Larson Financial Group LLC lifted its stake in IES by 2,100.0% in the fourth quarter. Larson Financial Group LLC now owns 132 shares of the technology company’s stock worth $51,000 after acquiring an additional 126 shares during the period. Finally, Federated Hermes Inc. lifted its stake in IES by 91.3% in the third quarter. Federated Hermes Inc. now owns 132 shares of the technology company’s stock worth $52,000 after acquiring an additional 63 shares during the period. 86.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 transaction of $1,987,830.00. Following the transaction, the chief financial officer owned 62,525 shares in the company, valued at $41,429,690.25. This represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Todd M. Cleveland sold 11,578 shares of the company’s stock in a transaction dated 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 transaction, the director owned 65,817 shares in the company, valued at approximately $43,670,895.84. This trade represents a 14.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 131,336 shares of company stock valued at $88,246,972. Company insiders own 56.43% of the company’s stock.

IES Stock Performance

Shares of IES stock opened at $659.65 on Tuesday. The company has a market capitalization of $13.15 billion, a PE ratio of 35.18 and a beta of 1.81. The company has a 50-day simple moving average of $559.50 and a two-hundred day simple moving average of $479.06. IES Holdings, Inc. has a one year low of $239.23 and a one year high of $700.20.

IES (NASDAQ:IESC) last announced its earnings results on Friday, May 1st. The technology company reported $4.16 EPS for the quarter, topping analysts’ consensus estimates of $3.95 by $0.21. The business had revenue of $974.20 million during the quarter, compared to the consensus estimate 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

A number of analysts recently weighed in on the stock. Freedom Capital lowered shares of IES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Loop Capital set a $458.00 target price on shares of IES in a report on Tuesday, February 3rd. Finally, Wall Street Zen downgraded shares of IES from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, IES presently has a consensus rating of “Moderate Buy” and an average target price of $458.00.

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.