Franklin Resources Inc. Increases Stake in IES Holdings, Inc. (NASDAQ:IESC)

Franklin Resources Inc. increased its position in shares of IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 79.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 155,426 shares of the technology company's stock after purchasing an additional 68,750 shares during the quarter. Franklin Resources Inc. owned approximately 0.78% of IES worth $31,026,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. grew its holdings in shares of IES by 258.7% in the second quarter. Federated Hermes Inc. now owns 269 shares of the technology company's stock valued at $37,000 after purchasing an additional 194 shares during the period. Quest Partners LLC raised its position in shares of IES by 41.0% during the 2nd quarter. Quest Partners LLC now owns 296 shares of the technology company's stock valued at $41,000 after buying an additional 86 shares during the period. Gladius Capital Management LP acquired a new position in IES in the third quarter valued at approximately $44,000. CWM LLC grew its position in IES by 17.2% in the third quarter. CWM LLC now owns 682 shares of the technology company's stock worth $136,000 after acquiring an additional 100 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in IES during the second quarter worth $170,000. 86.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Jeffrey L. Et Al Gendell sold 12,389 shares of the firm's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $257.37, for a total value of $3,188,556.93. Following the completion of the transaction, the chief executive officer now owns 10,958,900 shares of the company's stock, valued at approximately $2,820,492,093. This trade represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Mary K. Newman sold 2,500 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $286.23, for a total transaction of $715,575.00. Following the sale, the vice president now owns 18,286 shares in the company, valued at approximately $5,234,001.78. This trade represents a 12.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,359 shares of company stock valued at $7,341,029. Company insiders own 59.19% of the company's stock.

IES Stock Up 3.7 %

IESC stock traded up $7.62 during mid-day trading on Thursday, hitting $213.03. 224,101 shares of the company were exchanged, compared to its average volume of 141,780. IES Holdings, Inc. has a 12-month low of $76.26 and a 12-month high of $320.08. The firm has a market capitalization of $4.25 billion, a P/E ratio of 21.54 and a beta of 1.45. The business has a fifty day simple moving average of $251.10 and a 200-day simple moving average of $191.70.

Analyst Ratings Changes

Separately, StockNews.com raised IES from a "hold" rating to a "buy" rating in a research note on Tuesday, December 10th.

IES Profile

IES Holdings, Inc engages in the design and installation of integrated electrical and technology systems, and provides infrastructure products and services in the United States. The Communications segment designs, installs, and maintains network infrastructure within data centers for co-location and managed hosting customers; corporate, educational, financial, hospitality, and healthcare buildings; e-commerce distribution centers; and high-tech manufacturing facilities.