Handelsbanken Fonder AB Increases Stock Holdings in IES Holdings, Inc. (NASDAQ:IESC)

Handelsbanken Fonder AB boosted its stake in IES Holdings, Inc. (NASDAQ:IESC) by 28.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,200 shares of the technology company’s stock after acquiring an additional 700 shares during the period. Handelsbanken Fonder AB’s holdings in IES were worth $639,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. increased its position in shares of IES by 258.7% during the second quarter. Federated Hermes Inc. now owns 269 shares of the technology company’s stock valued at $37,000 after buying an additional 194 shares during the period. Quest Partners LLC raised its position in shares of IES by 41.0% in the 2nd quarter. Quest Partners LLC now owns 296 shares of the technology company’s stock worth $41,000 after acquiring an additional 86 shares in the last quarter. Contravisory Investment Management Inc. purchased a new position in shares of IES in the 2nd quarter valued at approximately $48,000. Sunbelt Securities Inc. bought a new stake in shares of IES during the first quarter valued at approximately $48,000. Finally, CWM LLC grew its stake in IES by 252.7% in the second quarter. CWM LLC now owns 582 shares of the technology company’s stock worth $81,000 after purchasing an additional 417 shares during the period. 86.60% of the stock is currently owned by institutional investors.

IES Price Performance

NASDAQ:IESC opened at $219.79 on Monday. The firm has a market capitalization of $4.45 billion, a P/E ratio of 33.15 and a beta of 1.38. IES Holdings, Inc. has a one year low of $59.75 and a one year high of $220.04. The company’s 50-day simple moving average is $178.25 and its 200 day simple moving average is $154.74.

IES (NASDAQ:IESC) last posted its quarterly earnings results on Friday, August 2nd. The technology company reported $2.67 earnings per share for the quarter. The company had revenue of $768.40 million for the quarter. IES had a return on equity of 34.38% and a net margin of 6.30%.

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

Analyst Ratings Changes

Separately, StockNews.com lowered IES from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th.

Insider Transactions at IES

In related news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 10,934,845 shares of the company’s stock, valued at approximately $1,751,762,169. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $160.20, for a total value of $5,982,989.40. Following the transaction, the chief executive officer now directly owns 10,934,845 shares of the company’s stock, valued at approximately $1,751,762,169. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David B. Gendell sold 10,000 shares of IES stock in a transaction on Friday, August 30th. The stock was sold at an average price of $187.26, for a total value of $1,872,600.00. Following the completion of the sale, the director now directly owns 127,976 shares of the company’s stock, valued at approximately $23,964,785.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 160,966 shares of company stock valued at $26,003,099 in the last quarter. 59.19% of the stock is owned by insiders.

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.