Assenagon Asset Management S.A. Has $16.92 Million Position in IES Holdings, Inc. (NASDAQ:IESC)

Assenagon Asset Management S.A. cut its stake in shares of IES Holdings, Inc. (NASDAQ:IESC) by 5.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 84,779 shares of the technology company’s stock after selling 4,551 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.42% of IES worth $16,924,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. lifted its holdings in IES by 258.7% during the 2nd quarter. Federated Hermes Inc. now owns 269 shares of the technology company’s stock valued at $37,000 after purchasing an additional 194 shares during the last quarter. Quest Partners LLC increased its holdings in shares of IES by 41.0% during the second quarter. Quest Partners LLC now owns 296 shares of the technology company’s stock worth $41,000 after buying an additional 86 shares in the last quarter. Sunbelt Securities Inc. bought a new position in shares of IES in the first quarter valued at approximately $48,000. Contravisory Investment Management Inc. acquired a new position in shares of IES in the 2nd quarter worth approximately $48,000. Finally, CWM LLC grew its position in IES by 252.7% during the 2nd quarter. CWM LLC now owns 582 shares of the technology company’s stock worth $81,000 after acquiring an additional 417 shares during the last quarter. Institutional investors and hedge funds own 86.60% of the company’s stock.

IES Stock Down 1.1 %

IES stock opened at $207.99 on Friday. IES Holdings, Inc. has a 12-month low of $59.75 and a 12-month high of $234.81. The stock has a 50-day simple moving average of $189.35 and a 200 day simple moving average of $161.12. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 24.50 and a beta of 1.38.

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

IES announced that its Board of Directors has approved a share 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 repurchase up to 5.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director David B. Gendell sold 10,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $187.26, for a total transaction of $1,872,600.00. Following the completion of the sale, the director now owns 127,976 shares in the company, valued at $23,964,785.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director David B. Gendell sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $187.26, for a total value of $1,872,600.00. Following the transaction, the director now owns 127,976 shares of the company’s stock, valued at approximately $23,964,785.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $160.61, for a total transaction of $8,152,242.38. Following the sale, the chief executive officer now directly owns 11,134,087 shares of the company’s stock, valued at approximately $1,788,245,713.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 160,966 shares of company stock valued at $26,003,099. 59.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded IES from a “hold” rating to a “buy” rating in a research report on Wednesday.

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.