RIHO Partners LLC Makes New $4.07 Million Investment in IES Holdings, Inc. $IESC

RIHO Partners LLC purchased a new position in shares of IES Holdings, Inc. (NASDAQ:IESC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,540 shares of the technology company’s stock, valued at approximately $4,069,000. IES accounts for about 2.6% of RIHO Partners LLC’s investment portfolio, making the stock its 12th biggest position.

Other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in IES by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,904 shares of the technology company’s stock valued at $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 holdings 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 valued at $3,762,000 after buying an additional 1,435 shares during the last quarter. Prudential Financial Inc. acquired a new position in shares of IES during the second quarter worth approximately $365,000. Quantbot Technologies LP bought a new position in IES in the 2nd quarter worth approximately $89,000. Finally, Invesco Ltd. increased its position in IES by 43.7% in the 2nd quarter. Invesco Ltd. now owns 91,567 shares of the technology company’s stock valued at $27,125,000 after acquiring an additional 27,849 shares during the period. 86.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at IES

In related news, Director Todd M. Cleveland sold 5,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $761.89, for a total value of $3,809,450.00. Following the completion of the transaction, the director directly owned 60,874 shares in the company, valued at approximately $46,379,291.86. This represents a 7.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Tracy Mclauchlin sold 3,000 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer owned 62,525 shares of the company’s stock, valued at approximately $41,429,690.25. This represents a 4.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 208,102 shares of company stock valued at $146,518,202 in the last 90 days. 56.43% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IESC. Freedom Capital lowered IES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Wall Street Zen downgraded shares of IES from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of IES in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $458.00.

IES Stock Performance

IESC opened at $626.07 on Monday. The firm has a market cap of $12.47 billion, a P/E ratio of 33.39 and a beta of 1.78. The business has a 50 day moving average price of $680.83 and a 200 day moving average price of $564.88. IES Holdings, Inc. has a twelve month low of $309.51 and a twelve month high of $804.00.

IES (NASDAQ:IESC) last released its quarterly earnings results on Friday, May 1st. The technology company reported $4.16 EPS for the quarter, beating analysts’ consensus estimates of $3.95 by $0.21. IES had a net margin of 10.40% and a return on equity of 33.97%. The company had revenue of $974.20 million for the quarter, compared to analyst estimates of $1.01 billion.

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.