Raymond James Financial Inc. Invests $2.36 Million in IES Holdings, Inc. (NASDAQ:IESC)

Raymond James Financial Inc. bought a new stake in shares of IES Holdings, Inc. (NASDAQ:IESC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,747 shares of the technology company's stock, valued at approximately $2,361,000. Raymond James Financial Inc. owned approximately 0.06% of IES 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 business. Smithfield Trust Co bought a new stake in IES during the fourth quarter worth about $34,000. J.Safra Asset Management Corp lifted its holdings in shares of IES by 56.8% during the fourth quarter. J.Safra Asset Management Corp now owns 138 shares of the technology company's stock valued at $28,000 after purchasing an additional 50 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of IES by 6.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 81,457 shares of the technology company's stock worth $16,370,000 after purchasing an additional 4,718 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of IES in the 4th quarter worth approximately $74,000. Finally, Linscomb Wealth Inc. bought a new position in IES during the 4th quarter valued at approximately $201,000. 86.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded IES from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

IES Price Performance

IESC stock traded up $10.77 during trading on Wednesday, hitting $179.63. 208,399 shares of the stock traded hands, compared to its average volume of 174,078. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 16.73 and a beta of 1.51. IES Holdings, Inc. has a 1 year low of $112.73 and a 1 year high of $320.09. The firm's 50 day moving average is $198.36 and its two-hundred day moving average is $221.49.

IES (NASDAQ:IESC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $2.64 earnings per share for the quarter. IES had a net margin of 7.30% and a return on equity of 35.81%.

IES Company 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.