Renaissance Group LLC Makes New Investment in IES Holdings, Inc. $IESC

Renaissance Group LLC purchased a new position in shares of IES Holdings, Inc. (NASDAQ:IESC) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 16,071 shares of the technology company’s stock, valued at approximately $6,252,000. Renaissance Group LLC owned approximately 0.08% of IES as of its most recent filing with the SEC.

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

IES Price Performance

Shares of IES stock opened at $678.20 on Thursday. IES Holdings, Inc. has a 1 year low of $261.11 and a 1 year high of $768.00. The firm has a market cap of $13.51 billion, a PE ratio of 36.17 and a beta of 1.78. The stock has a fifty day moving average price of $618.41 and a 200-day moving average price of $506.64.

IES (NASDAQ:IESC) last announced its earnings results on Friday, May 1st. The technology company reported $4.16 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $1.01 billion.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wall Street Zen lowered IES from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Freedom Capital lowered IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, IES presently has a consensus rating of “Moderate Buy” and an average target price of $458.00.

Insiders Place Their Bets

In other news, Chairman Jeffrey L. Et Al Gendell sold 30,310 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $705.93, for a total transaction of $21,396,738.30. Following the completion of the sale, the chairman directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Matthew J. Simmes sold 7,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $658.24, for a total value of $4,607,680.00. Following the sale, the chief executive officer directly owned 86,575 shares of the company’s stock, valued at approximately $56,987,128. This represents a 7.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 156,382 shares of company stock valued at $107,366,474. 56.43% of the stock is owned by company 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.