Franklin Resources Inc.'s Increased Stake in IES Holdings, Inc.

Franklin Resources Inc. has significantly increased its investment in IES Holdings, Inc. (NASDAQ:IESC) during the third quarter, as disclosed in their latest Form 13F filing with the SEC. The company raised its stake by a substantial 79.3%, acquiring a total of 155,426 shares of the technology firm after purchasing an additional 68,750 shares during this period. As of the most recent filing, Franklin Resources owns approximately 0.78% of IES, which is valued at around $31,026,000.

In addition to Franklin Resources, various other hedge funds and institutional investors have also made moves in IES shares. For instance, Federated Hermes Inc. boosted its stake in IES by 258.7% in the second quarter, bringing its total ownership to 269 shares worth $37,000 after purchasing an extra 194 shares. Similarly, Quest Partners LLC increased its holdings by 41.0% during the same period, now owning 296 shares valued at approximately $41,000 after adding 86 shares. Moreover, Gladius Capital Management LP took a new position in IES valued at about $44,000 in the third quarter. CWM LLC expanded its holdings by 17.2%, owning 682 shares valued at $136,000 after buying 100 additional shares. Additionally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake valued at around $170,000 in the second quarter. Collectively, hedge funds and institutional investors hold about 86.60% of IES stock.

Recent Stock Performance

Recently, shares of NASDAQ IESC have seen a decline of 4.1%. The stock opened at $205.41, with a market capitalization of $4.10 billion. It has a PE ratio of 20.77 and a beta value of 1.45. Currently, IES Holdings has a fifty-day moving average of $251.05 and a 200-day average of $191.55. The stock has encountered a 52-week low of $76.26 and a high of $320.08.

Insider Trading Activity

In other developments, IES has seen some insider selling activity. VP Mary K. Newman sold 2,500 shares of their holdings on November 27th, fetching an average price of $286.23 per share, totaling approximately $715,575. Following this transaction, Newman retains 18,286 shares valued at around $5,234,001.78, marking a 12.03% decrease in ownership. Additionally, CEO Jeffrey L. Et Al Gendell sold 470 shares on December 16th, for an average price of $252.25, amounting to a total of $118,557.50. Post-sale, the CEO still owns 10,957,184 shares valued at approximately $2,763,949,664, reflecting no change in their position. In the past 90 days, insiders have sold 27,359 shares totaling about $7,341,029, while 59.19% of the stock remains under insider control.

Analyst Ratings Update

Regarding analyst insights, StockNews.com recently upgraded IES shares from a "hold" to a "buy" rating as of December 10th.

About IES Holdings, Inc.

IES Holdings, Inc. is actively involved in designing and installing integrated electrical and technology systems across the United States. The company also offers infrastructure products and services. Its Communications segment focuses on designing, installing, and maintaining network infrastructure in a variety of settings, including data centers, corporate offices, educational and healthcare facilities, e-commerce distribution centers, and high-tech manufacturing sites.

Investment, Stocks, Finance