New York State Common Retirement Fund Has $16.04 Million Stock Position in IES Holdings, Inc. $IESC

New York State Common Retirement Fund lifted its stake in shares of IES Holdings, Inc. (NASDAQ:IESC) by 15.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,340 shares of the technology company’s stock after purchasing an additional 5,369 shares during the quarter. New York State Common Retirement Fund owned about 0.20% of IES worth $16,041,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC raised its stake in IES by 1,014.3% during the 3rd quarter. Global Retirement Partners LLC now owns 78 shares of the technology company’s stock worth $31,000 after buying an additional 71 shares during the period. Spire Wealth Management bought a new stake in shares of IES during the third quarter valued at approximately $40,000. Nisa Investment Advisors LLC increased its holdings in shares of IES by 841.7% during the second quarter. Nisa Investment Advisors LLC now owns 113 shares of the technology company’s stock valued at $33,000 after acquiring an additional 101 shares in the last quarter. Federated Hermes Inc. raised its position in shares of IES by 91.3% during the third quarter. Federated Hermes Inc. now owns 132 shares of the technology company’s stock worth $52,000 after purchasing an additional 63 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of IES in the 2nd quarter worth $47,000. 86.60% of the stock is owned by institutional investors.

Insider Transactions at IES

In other news, CAO Mary K. Newman sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $477.86, for a total value of $955,720.00. Following the completion of the transaction, the chief accounting officer directly owned 21,843 shares of the company’s stock, valued at $10,437,895.98. This represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Tracy Mclauchlin sold 5,000 shares of IES stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $411.48, for a total value of $2,057,400.00. Following the sale, the chief financial officer owned 65,525 shares in the company, valued at $26,962,227. This trade represents a 7.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 217,661 shares of company stock worth $96,387,385. Company insiders own 56.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IESC. Wall Street Zen upgraded shares of IES from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of IES in a report on Monday, December 22nd. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, IES presently has an average rating of “Buy”.

IES Price Performance

IESC opened at $380.29 on Monday. IES Holdings, Inc. has a 1 year low of $146.51 and a 1 year high of $488.62. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of 22.62 and a beta of 1.72. The firm’s fifty day moving average price is $426.64 and its two-hundred day moving average price is $388.20.

IES (NASDAQ:IESC) last released its quarterly 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 37.54%. The firm had revenue of $870.96 million for the quarter, compared to the consensus estimate of $876.00 million.

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.