IES Holdings, Inc. (NASDAQ:IESC) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its holdings in shares of IES Holdings, Inc. (NASDAQ:IESC) by 0.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,119 shares of the technology company’s stock after selling 100 shares during the period. Janney Montgomery Scott LLC’s holdings in IES were worth $5,613,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Federated Hermes Inc. raised its holdings in IES by 258.7% during the second quarter. Federated Hermes Inc. now owns 269 shares of the technology company’s stock worth $37,000 after purchasing an additional 194 shares in the last quarter. Quest Partners LLC increased its position in 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 during the period. Contravisory Investment Management Inc. acquired a new position in shares of IES in the 2nd quarter valued at $48,000. CWM LLC boosted its stake in shares of IES by 252.7% during the second quarter. CWM LLC now owns 582 shares of the technology company’s stock worth $81,000 after buying an additional 417 shares during the period. Finally, EntryPoint Capital LLC increased its position in IES by 217.0% in the 1st quarter. EntryPoint Capital LLC now owns 1,065 shares of the technology company’s stock valued at $130,000 after acquiring an additional 729 shares during the period. 86.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

IES Trading Up 5.4 %

Shares of IES stock opened at $285.55 on Friday. The company has a 50-day moving average of $201.36 and a two-hundred day moving average of $169.17. IES Holdings, Inc. has a 12-month low of $60.33 and a 12-month high of $285.56. The stock has a market cap of $5.71 billion, a PE ratio of 33.63 and a beta of 1.37.

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

Insider Buying and Selling at IES

In other news, Director David B. Gendell sold 10,000 shares of the company’s 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 sale, the director now directly owns 127,976 shares in the company, valued at $23,964,785.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $158.29, for a total transaction of $7,575,917.69. Following the completion of the sale, the chief executive officer now owns 11,036,984 shares in the company, valued at approximately $1,747,044,197.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David B. Gendell sold 10,000 shares of the 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 directly owns 127,976 shares of the company’s stock, valued at $23,964,785.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 110,208 shares of company stock worth $17,850,857. 59.19% of the stock is owned by corporate insiders.

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.