Renaissance Technologies LLC Trims Stake in IES Holdings, Inc. $IESC

Renaissance Technologies LLC lessened its position in IES Holdings, Inc. (NASDAQ:IESC) by 15.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 82,352 shares of the technology company’s stock after selling 15,040 shares during the quarter. Renaissance Technologies LLC owned approximately 0.41% of IES worth $39,238,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its position in IES by 40.4% during the first quarter. First Trust Advisors LP now owns 349,163 shares of the technology company’s stock valued at $166,366,000 after buying an additional 100,425 shares during the period. Geode Capital Management LLC lifted its position in IES by 2.4% during the 4th 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 during the period. Pertento Partners LLP boosted its stake in IES by 17.1% during 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 in the last quarter. State Street Corp grew its holdings in IES by 1.2% in 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 during the period. Finally, Morgan Stanley increased its stake in shares of IES by 7.7% during the fourth 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 in the last quarter. 86.60% of the stock is owned by hedge funds and other institutional investors.

IES Stock Down 3.6%

Shares of IESC opened at $603.23 on Tuesday. IES Holdings, Inc. has a twelve month low of $309.51 and a twelve month high of $804.00. The company has a market capitalization of $12.02 billion, a P/E ratio of 32.17 and a beta of 1.78. The firm has a 50 day moving average of $679.81 and a 200 day moving average of $566.22.

IES (NASDAQ:IESC) last released its quarterly earnings data on Friday, May 1st. The technology company reported $4.16 earnings per share (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 business had revenue of $974.20 million for the quarter, compared to analysts’ expectations of $1.01 billion.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wall Street Zen downgraded IES from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Weiss Ratings reissued a “buy (b)” rating on shares of IES in a research note on Thursday, June 18th. Finally, Freedom Capital downgraded IES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $458.00.

Insiders Place Their Bets

In other news, CFO Tracy Mclauchlin sold 3,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief financial officer owned 62,525 shares in the company, valued at $41,429,690.25. The trade was a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Jeffrey L. Et Al Gendell sold 46,720 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $756.47, for a total value of $35,342,278.40. Following the transaction, the chairman directly owned 10,406,559 shares in the company, valued at approximately $7,872,249,686.73. The trade was a 0.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 208,102 shares of company stock valued at $146,518,202. 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.