JPMorgan Chase & Co. Has $10.14 Million Stake in IES Holdings, Inc. $IESC

JPMorgan Chase & Co. trimmed its stake in IES Holdings, Inc. (NASDAQ:IESC) by 10.3% in the third quarter, Holdings Channel.com reports. The firm owned 25,497 shares of the technology company’s stock after selling 2,917 shares during the quarter. JPMorgan Chase & Co.’s holdings in IES were worth $10,139,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. First Trust Advisors LP grew its position in IES by 982.7% during the third quarter. First Trust Advisors LP now owns 323,893 shares of the technology company’s stock valued at $128,796,000 after purchasing an additional 293,977 shares in the last quarter. Pertento Partners LLP purchased a new stake in IES in the 2nd quarter worth approximately $46,916,000. SG Capital Management LLC acquired a new stake in shares of IES during the 3rd quarter valued at $38,609,000. Parsifal Capital Management LP acquired a new stake in shares of IES during the 3rd quarter valued at $25,768,000. Finally, Swedbank AB grew its holdings in shares of IES by 153.1% during the 3rd quarter. Swedbank AB now owns 81,000 shares of the technology company’s stock valued at $32,210,000 after acquiring an additional 49,000 shares in the last quarter. 86.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IESC. Wall Street Zen downgraded shares of IES from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 7th. Weiss Ratings reissued a “buy (b)” rating on shares of IES in a research report on Monday, December 22nd. Finally, Loop Capital set a $458.00 target price on IES in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $458.00.

IES Stock Up 1.1%

NASDAQ IESC opened at $473.86 on Friday. The stock has a market capitalization of $9.44 billion, a PE ratio of 28.19 and a beta of 1.68. IES Holdings, Inc. has a 12-month low of $146.51 and a 12-month high of $537.70. The company has a 50 day moving average price of $469.43 and a two-hundred day moving average price of $424.33.

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

Insider Buying and Selling

In other IES news, Director Todd M. Cleveland sold 1,425 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $500.84, for a total transaction of $713,697.00. Following the transaction, the director directly owned 78,089 shares of the company’s stock, valued at $39,110,094.76. This represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Jeffrey L. Et Al Gendell sold 320 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $520.43, for a total value of $166,537.60. Following the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 20,659 shares of company stock worth $10,636,940. Corporate insiders own 56.43% of the company’s stock.

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.