JPMorgan Chase & Co. Trims Stock Holdings in IES Holdings, Inc. $IESC

JPMorgan Chase & Co. lowered its stake in shares of IES Holdings, Inc. (NASDAQ:IESC) by 10.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,497 shares of the technology company’s stock after selling 2,917 shares during the period. JPMorgan Chase & Co.’s holdings in IES were worth $10,139,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Global Retirement Partners LLC grew its position in shares of IES by 1,014.3% in the third quarter. Global Retirement Partners LLC now owns 78 shares of the technology company’s stock valued at $31,000 after purchasing an additional 71 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in IES by 841.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 113 shares of the technology company’s stock worth $33,000 after purchasing an additional 101 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in IES by 157.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 98 shares of the technology company’s stock worth $39,000 after purchasing an additional 60 shares in the last quarter. Spire Wealth Management bought a new position in IES in the 3rd quarter worth about $40,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in IES during the 2nd quarter valued at about $47,000. 86.60% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman Jeffrey L. Et Al Gendell sold 320 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $520.43, for a total transaction of $166,537.60. Following the sale, the chairman owned 10,587,161 shares in the company, valued at approximately $5,509,876,199.23. This trade represents a 0.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Matthew J. Simmes sold 5,000 shares of IES stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $506.26, for a total transaction of $2,531,300.00. Following the sale, the chief executive officer directly owned 93,575 shares of the company’s stock, valued at $47,373,279.50. This represents a 5.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 123,320 shares of company stock worth $58,839,170. 56.43% of the stock is currently owned by corporate insiders.

IES Trading Up 1.1%

IESC stock opened at $430.65 on Friday. The company’s 50 day moving average is $454.77 and its 200 day moving average is $412.35. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 25.62 and a beta of 1.68. IES Holdings, Inc. has a 1-year low of $146.51 and a 1-year high of $537.70.

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

Wall Street Analyst Weigh In

IESC has been the topic of several analyst reports. Wall Street Zen cut IES from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 7th. Loop Capital set a $458.00 target price on shares of IES in a report on Tuesday, February 3rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of IES in a report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $458.00.

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.