Lazard Asset Management LLC Grows Holdings in IES Holdings, Inc. $IESC

Lazard Asset Management LLC boosted its position in shares of IES Holdings, Inc. (NASDAQ:IESC) by 164.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,822 shares of the technology company’s stock after acquiring an additional 6,729 shares during the period. Lazard Asset Management LLC’s holdings in IES were worth $5,156,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. First Trust Advisors LP raised its position in shares of 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 purchasing an additional 100,425 shares during the period. Geode Capital Management LLC lifted its position in shares of IES by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 274,725 shares of the technology company’s stock valued at $106,887,000 after acquiring an additional 6,349 shares in the last quarter. Pertento Partners LLP boosted its stake in shares of IES by 17.1% in the fourth quarter. Pertento Partners LLP now owns 209,351 shares of the technology company’s stock worth $81,442,000 after acquiring an additional 30,583 shares during the period. State Street Corp grew its position in shares of IES by 1.2% during the fourth quarter. State Street Corp now owns 205,905 shares of the technology company’s stock worth $80,101,000 after purchasing an additional 2,517 shares in the last quarter. Finally, Morgan Stanley raised its stake in IES by 7.7% during the 4th quarter. Morgan Stanley now owns 171,488 shares of the technology company’s stock valued at $66,713,000 after purchasing an additional 12,232 shares during the period. 86.60% of the stock is owned by hedge funds and other institutional investors.

IES Stock Performance

Shares of IESC stock opened at $571.54 on Friday. The stock has a 50 day moving average price of $673.17 and a 200 day moving average price of $569.44. IES Holdings, Inc. has a 52-week low of $309.51 and a 52-week high of $804.00. The firm has a market capitalization of $11.39 billion, a P/E ratio of 30.48 and a beta of 1.78.

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at IES

In related news, CFO Tracy Mclauchlin sold 3,000 shares of the firm’s 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 owned 62,525 shares of the company’s stock, valued at $41,429,690.25. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $35,342,278.40. Following the completion of the transaction, the chairman directly owned 10,406,559 shares in the company, valued at $7,872,249,686.73. This represents a 0.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 208,102 shares of company stock worth $146,518,202. 56.43% of the stock is currently owned by insiders.

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.