Renaissance Technologies LLC Sells 15,040 Shares of IES Holdings, Inc. $IESC

Renaissance Technologies LLC lowered its stake in IES Holdings, Inc. (NASDAQ:IESC) by 15.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,352 shares of the technology company’s stock after selling 15,040 shares during the quarter. Renaissance Technologies LLC’s holdings in IES were worth $39,238,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in IESC. First Trust Advisors LP raised its stake in IES by 40.4% during the 1st quarter. First Trust Advisors LP now owns 349,163 shares of the technology company’s stock valued at $166,366,000 after buying an additional 100,425 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of IES by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 274,725 shares of the technology company’s stock worth $106,887,000 after buying an additional 6,349 shares during the last quarter. Pertento Partners LLP boosted its stake in shares of IES by 17.1% in the 4th quarter. Pertento Partners LLP now owns 209,351 shares of the technology company’s stock worth $81,442,000 after buying an additional 30,583 shares during the last quarter. State Street Corp grew its holdings in shares of IES by 1.2% in the fourth quarter. State Street Corp now owns 205,905 shares of the technology company’s stock worth $80,101,000 after acquiring an additional 2,517 shares during the period. Finally, Morgan Stanley grew its holdings in shares of IES by 7.7% in the fourth quarter. Morgan Stanley now owns 171,488 shares of the technology company’s stock worth $66,713,000 after acquiring an additional 12,232 shares during the period. Institutional investors own 86.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of IES in a report on Thursday, June 18th. Freedom Capital downgraded IES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Finally, Wall Street Zen lowered shares of IES from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $458.00.

Insider Buying and Selling at IES

In other news, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $756.47, for a total value of $35,342,278.40. Following the transaction, the chairman owned 10,406,559 shares of the company’s stock, valued at $7,872,249,686.73. This trade represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Tracy Mclauchlin sold 3,000 shares of IES stock in a transaction dated Friday, May 8th. The shares were 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 in the company, valued at approximately $41,429,690.25. The trade was a 4.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 208,102 shares of company stock valued at $146,518,202. Company insiders own 56.43% of the company’s stock.

IES Price Performance

Shares of IESC stock opened at $603.23 on Tuesday. The company has a market cap of $12.02 billion, a price-to-earnings ratio of 32.17 and a beta of 1.78. IES Holdings, Inc. has a 1 year low of $309.51 and a 1 year high of $804.00. The firm has a fifty day moving average price of $679.81 and a 200-day moving average price of $566.22.

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 company had revenue of $974.20 million for the quarter, compared to analysts’ expectations of $1.01 billion. IES had a return on equity of 33.97% and a net margin of 10.40%.

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.