Gabelli Funds LLC Sells 1,800 Shares of IES Holdings, Inc. $IESC

Gabelli Funds LLC cut its holdings in IES Holdings, Inc. (NASDAQ:IESC) by 27.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,700 shares of the technology company’s stock after selling 1,800 shares during the quarter. Gabelli Funds LLC’s holdings in IES were worth $1,869,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Orion Porfolio Solutions LLC lifted its holdings in IES by 85.0% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 5,649 shares of the technology company’s stock worth $1,673,000 after purchasing an additional 2,596 shares during the last quarter. Alps Advisors Inc. boosted its position in IES by 60.5% during the third quarter. Alps Advisors Inc. now owns 5,726 shares of the technology company’s stock worth $2,277,000 after purchasing an additional 2,159 shares during the period. Atria Investments Inc acquired a new position in IES during the second quarter valued at approximately $291,000. Geode Capital Management LLC raised its position in shares of IES by 4.8% in the second quarter. Geode Capital Management LLC now owns 263,993 shares of the technology company’s stock valued at $78,210,000 after purchasing an additional 12,026 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of IES by 50.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 110,313 shares of the technology company’s stock valued at $32,678,000 after purchasing an additional 36,845 shares during the period. Institutional investors and hedge funds own 86.60% of the company’s stock.

IES Stock Down 0.4%

Shares of IESC stock opened at $448.38 on Wednesday. IES Holdings, Inc. has a 12 month low of $146.51 and a 12 month high of $537.70. The firm has a market cap of $8.94 billion, a PE ratio of 26.67 and a beta of 1.68. The stock has a 50 day moving average of $456.90 and a 200-day moving average of $415.23.

IES (NASDAQ:IESC) last announced its quarterly earnings data on Friday, January 30th. The technology company reported $3.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.94 by ($0.23). The company had revenue of $870.96 million during the quarter, compared to analyst estimates of $876.00 million. IES had a return on equity of 35.62% and a net margin of 9.70%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IESC. Weiss Ratings restated a “buy (b)” rating on shares of IES in a research note on Monday, December 22nd. Loop Capital set a $458.00 target price on shares of IES in a report on Tuesday, February 3rd. Finally, Wall Street Zen lowered shares of IES from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 7th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $458.00.

Insiders Place Their Bets

In other news, CEO Matthew J. Simmes sold 5,000 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $506.26, for a total transaction of $2,531,300.00. Following the transaction, the chief executive officer owned 93,575 shares in the company, valued at approximately $47,373,279.50. The trade was a 5.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Jeffrey L. Et Al Gendell sold 320 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $520.43, for a total transaction of $166,537.60. Following the transaction, the chairman directly owned 10,587,161 shares of the company’s stock, valued at $5,509,876,199.23. This represents a 0.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 99,759 shares of company stock worth $48,069,525 in the last ninety days. Insiders own 56.43% of the company’s stock.

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.