BlackRock Inc. Acquires 834,278 Shares of Infrastructure and Energy Alternatives (IEA)

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Posted November 26, 2018

BlackRock Inc. raised its position in Infrastructure and Energy Alternatives (NYSE:IEA) by 83.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,834,278 shares of the company’s stock after purchasing an additional 834,278 shares during the period. BlackRock Inc. owned 8.50% of Infrastructure and Energy Alternatives worth $17,077,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Rhumbline Advisers acquired a new stake in shares of Infrastructure and Energy Alternatives in the 2nd quarter worth $144,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of Infrastructure and Energy Alternatives in the second quarter valued at about $307,000. Millennium Management LLC acquired a new stake in shares of Infrastructure and Energy Alternatives in the first quarter valued at about $313,000. Bank of New York Mellon Corp acquired a new stake in shares of Infrastructure and Energy Alternatives in the second quarter valued at about $394,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Infrastructure and Energy Alternatives in the second quarter valued at about $483,000.

Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of Infrastructure and Energy Alternatives from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 11th. DA Davidson initiated coverage on shares of Infrastructure and Energy Alternatives in a research note on Thursday, November 1st. They issued a “neutral” rating and a $10.50 price objective for the company.

NYSE:IEA traded down $0.07 during mid-day trading on Tuesday, hitting $7.38. 207,400 shares of the company’s stock traded hands, compared to its average volume of 122,913. Infrastructure and Energy Alternatives has a 1 year low of $7.31 and a 1 year high of $11.27.

Infrastructure and Energy Alternatives (NYSE:IEA) last posted its earnings results on Thursday, November 8th. The company reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.34). The business had revenue of $279.28 million for the quarter, compared to analysts’ expectations of $288.76 million.

About Infrastructure and Energy Alternatives

Infrastructure and Energy Alternatives, Inc, an infrastructure construction company, provides engineering, procurement, construction, and maintenance services. It offers design, site development, construction, installation, and restoration of infrastructure services for the wind, solar, thermal, and biomass/alternative fuel power plants; and highways, bridges, and railroads, as well as provides other industrial services.

Source: Press Oracle