Montgomery Investment Management Inc. Acquires New Position in IES Holdings, Inc. $IESC

Montgomery Investment Management Inc. acquired a new stake in IES Holdings, Inc. (NASDAQ:IESC) during the 1st quarter, HoldingsChannel reports. The firm acquired 1,370 shares of the technology company’s stock, valued at approximately $653,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. AltraVue Capital LLC grew its holdings 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 valued at $66,116,000 after acquiring an additional 3,370 shares in the last quarter. Dakota Wealth Management purchased a new stake in shares of IES during the fourth quarter worth $1,018,000. First Trust Advisors LP raised its holdings in shares of IES by 982.7% during the third 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 in the last quarter. Pertento Partners LLP boosted its position in IES by 12.9% during the third quarter. Pertento Partners LLP now owns 178,768 shares of the technology company’s stock valued at $71,087,000 after purchasing an additional 20,390 shares during the last quarter. Finally, Arete Wealth Advisors LLC boosted its position in IES by 260.1% during the third quarter. Arete Wealth Advisors LLC now owns 5,254 shares of the technology company’s stock valued at $2,089,000 after purchasing an additional 3,795 shares during the last quarter. Hedge funds and other institutional investors own 86.60% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Tracy Mclauchlin sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $662.61, for a total value of $1,987,830.00. Following the transaction, the chief financial officer directly owned 62,525 shares of the company’s stock, valued at approximately $41,429,690.25. This trade represents a 4.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $756.47, for a total value of $35,342,278.40. Following the completion of the transaction, the chairman directly owned 10,406,559 shares in the company, valued at $7,872,249,686.73. The trade was a 0.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 208,102 shares of company stock valued at $146,518,202 over the last quarter. Insiders own 56.43% of the company’s stock.

IES Trading Down 6.7%

IESC stock opened at $714.90 on Friday. IES Holdings, Inc. has a 1 year low of $281.35 and a 1 year high of $804.00. The company has a fifty day simple moving average of $670.67 and a 200 day simple moving average of $532.36. The firm has a market cap of $14.24 billion, a PE ratio of 38.13 and a beta of 1.78.

IES (NASDAQ:IESC) last posted its earnings results 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 firm had revenue of $974.20 million for 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

Several research analysts have weighed in on IESC shares. Freedom Capital lowered IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Wall Street Zen lowered IES from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of IES in a research note on Thursday, June 18th. One equities 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.