Ausbil Investment Management Ltd Acquires New Position in IES Holdings, Inc. (NASDAQ:IESC)

Ausbil Investment Management Ltd bought a new position in IES Holdings, Inc. (NASDAQ:IESC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,880 shares of the technology company’s stock, valued at approximately $375,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Precision Wealth Strategies LLC bought a new stake in shares of IES in the 3rd quarter worth approximately $408,000. Optimum Investment Advisors bought a new stake in IES in the third quarter valued at $599,000. BlueSky Wealth Advisors LLC acquired a new position in shares of IES during the third quarter valued at $220,000. Creative Planning bought a new position in shares of IES during the third quarter worth about $329,000. Finally, Annex Advisory Services LLC lifted its position in IES by 94.5% in the 3rd quarter. Annex Advisory Services LLC now owns 10,015 shares of the technology company’s stock valued at $1,999,000 after purchasing an additional 4,867 shares during the last quarter. 86.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

IES Trading Down 0.3 %

IESC traded down $0.64 during trading hours on Thursday, hitting $210.14. The company’s stock had a trading volume of 18,073 shares, compared to its average volume of 133,444. The company has a 50-day simple moving average of $187.93 and a 200 day simple moving average of $160.01. The firm has a market capitalization of $4.25 billion, a PE ratio of 31.79 and a beta of 1.38. IES Holdings, Inc. has a fifty-two week low of $59.75 and a fifty-two week high of $234.81.

IES (NASDAQ:IESC) last issued its quarterly earnings data on Friday, August 2nd. The technology company reported $2.67 earnings per share for the quarter. The business 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 plan on Friday, August 2nd that authorizes the company to buyback $200.00 million in 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.

Insider Transactions at IES

In related news, Director David B. Gendell sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 127,976 shares of the company’s stock, valued at $23,964,785.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 11,134,087 shares of the company’s stock, valued at $1,788,245,713.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David B. Gendell sold 10,000 shares of IES stock in a transaction dated 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 transaction, the director now directly owns 127,976 shares in the company, valued at approximately $23,964,785.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 160,966 shares of company stock valued at $26,003,099. Company insiders own 59.19% of the company’s stock.

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.