Principal Financial Group Inc. Trims Position in IES Holdings, Inc. $IESC

Principal Financial Group Inc. cut its stake in shares of IES Holdings, Inc. (NASDAQ:IESC) by 17.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 13,977 shares of the technology company’s stock after selling 2,930 shares during the period. Principal Financial Group Inc.’s holdings in IES were worth $6,660,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp bought a new position in shares of IES in the first quarter valued at approximately $190,000. Oakwell Private Wealth Management LLC increased its holdings in IES by 74.5% during the 1st quarter. Oakwell Private Wealth Management LLC now owns 1,033 shares of the technology company’s stock worth $492,000 after acquiring an additional 441 shares during the period. Peterson Wealth Services lifted its stake in IES by 11.1% in the 1st quarter. Peterson Wealth Services now owns 3,657 shares of the technology company’s stock worth $1,742,000 after purchasing an additional 364 shares in the last quarter. Ascentis Independent Advisors lifted its stake in IES by 95.7% in the 1st quarter. Ascentis Independent Advisors now owns 2,006 shares of the technology company’s stock worth $956,000 after purchasing an additional 981 shares in the last quarter. Finally, Moran Wealth Management LLC boosted its holdings in IES by 151.4% in the 1st quarter. Moran Wealth Management LLC now owns 8,719 shares of the technology company’s stock valued at $4,154,000 after purchasing an additional 5,251 shares during the period. 86.60% of the stock is owned by hedge funds and other institutional investors.

IES Stock Performance

Shares of IES stock opened at $603.23 on Tuesday. IES Holdings, Inc. has a 52-week low of $309.51 and a 52-week high of $804.00. The company has a fifty day moving average of $679.81 and a 200-day moving average of $566.22. The stock has a market capitalization of $12.02 billion, a price-to-earnings ratio of 32.17 and a beta of 1.78.

IES (NASDAQ:IESC) last issued 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 net margin of 10.40% and a return on equity of 33.97%.

Insider Buying and Selling

In other news, CFO Tracy Mclauchlin sold 3,000 shares of IES stock in a transaction dated 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew J. Simmes sold 7,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 86,575 shares of the company’s stock, valued at approximately $56,987,128. This trade represents a 7.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 208,102 shares of company stock valued at $146,518,202 over the last three months. 56.43% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

IESC has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of IES from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Freedom Capital cut IES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of IES in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, IES presently has a consensus rating of “Moderate Buy” and a consensus target price of $458.00.

IES 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.