IES Holdings, Inc. (NASDAQ:IESC) Shares Bought by Moran Wealth Management LLC

Moran Wealth Management LLC lifted its stake in shares of IES Holdings, Inc. (NASDAQ:IESC) by 30.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,340 shares of the technology company’s stock after purchasing an additional 787 shares during the period. Moran Wealth Management LLC’s holdings in IES were worth $667,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. SG Americas Securities LLC purchased a new position in shares of IES in the second quarter worth approximately $3,328,000. Janus Henderson Group PLC boosted its position in shares of IES by 27.4% in the first quarter. Janus Henderson Group PLC now owns 26,609 shares of the technology company’s stock worth $3,237,000 after buying an additional 5,720 shares during the period. Versor Investments LP purchased a new position in shares of IES during the second quarter valued at $934,000. Kennedy Capital Management LLC raised its position in IES by 11.4% during the first quarter. Kennedy Capital Management LLC now owns 75,963 shares of the technology company’s stock valued at $9,240,000 after buying an additional 7,800 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in IES by 12.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 89,330 shares of the technology company’s stock worth $12,446,000 after acquiring an additional 9,942 shares during the period. Institutional investors and hedge funds own 86.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of IES from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th.

Insiders Place Their Bets

In other news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $160.20, for a total transaction of $5,982,989.40. Following the transaction, the chief executive officer now owns 10,934,845 shares in the company, valued at approximately $1,751,762,169. This trade represents a 0.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Todd M. Cleveland sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $153.57, for a total transaction of $1,535,700.00. Following the completion of the sale, the director now owns 104,654 shares of the company’s stock, valued at $16,071,714.78. This represents a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 105,208 shares of company stock valued at $16,967,207 in the last three months. Insiders own 59.19% of the company’s stock.

IES Trading Up 2.8 %

NASDAQ IESC opened at $278.01 on Friday. The company has a market capitalization of $5.55 billion, a PE ratio of 32.75 and a beta of 1.37. IES Holdings, Inc. has a 1-year low of $68.78 and a 1-year high of $297.07. The firm’s fifty day simple moving average is $224.35 and its 200-day simple moving average is $178.48.

IES announced that its board has initiated a stock repurchase program on Friday, August 2nd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the technology company to buy up to 5.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

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.