Cynosure Group LLC Reduces Stock Position in IES Holdings, Inc. (NASDAQ:IESC)

Cynosure Group LLC cut its holdings in IES Holdings, Inc. (NASDAQ:IESC) by 25.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,103 shares of the technology company’s stock after selling 711 shares during the period. Cynosure Group LLC’s holdings in IES were worth $420,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets boosted its holdings in shares of IES by 23.3% in the third quarter. BNP Paribas Financial Markets now owns 7,159 shares of the technology company’s stock worth $1,429,000 after acquiring an additional 1,351 shares during the period. FMR LLC lifted its holdings in IES by 4.6% during the 3rd quarter. FMR LLC now owns 1,476,238 shares of the technology company’s stock worth $294,687,000 after purchasing an additional 65,145 shares in the last quarter. Truvestments Capital LLC boosted its stake in IES by 9.1% in the 3rd quarter. Truvestments Capital LLC now owns 5,286 shares of the technology company’s stock worth $1,055,000 after purchasing an additional 441 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in IES by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 76,739 shares of the technology company’s stock valued at $15,319,000 after buying an additional 1,158 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of IES during the third quarter valued at about $608,000. 86.60% of the stock is currently owned by hedge funds and other institutional investors.

IES Price Performance

Shares of NASDAQ:IESC opened at $286.95 on Thursday. The firm has a fifty day moving average price of $229.44 and a two-hundred day moving average price of $180.10. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 28.63 and a beta of 1.37. IES Holdings, Inc. has a one year low of $68.78 and a one year high of $318.99.

IES announced that its board has authorized a share buyback plan on Friday, August 2nd that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

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

About IES

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.