IES Holdings, Inc. (NASDAQ:IESC) Shares Purchased by Royce & Associates LP

Royce & Associates LP boosted its holdings in shares of IES Holdings, Inc. (NASDAQ:IESC) by 15.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 294,808 shares of the technology company’s stock after purchasing an additional 38,783 shares during the period. Royce & Associates LP owned about 1.48% of IES worth $58,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of IES by 10.0% in the 1st quarter. Vanguard Group Inc. now owns 479,315 shares of the technology company’s stock valued at $58,304,000 after buying an additional 43,634 shares during the period. Renaissance Technologies LLC boosted its position in IES by 2.8% in the 2nd quarter. Renaissance Technologies LLC now owns 186,532 shares of the technology company’s stock worth $25,990,000 after purchasing an additional 5,100 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of IES by 12.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 89,330 shares of the technology company’s stock worth $12,446,000 after purchasing an additional 9,942 shares during the period. Kennedy Capital Management LLC increased its holdings in shares of IES by 11.4% during the 1st quarter. Kennedy Capital Management LLC now owns 75,963 shares of the technology company’s stock valued at $9,240,000 after purchasing an additional 7,800 shares in the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in shares of IES in the 2nd quarter valued at $9,558,000. 86.60% of the stock is owned by hedge funds and other institutional investors.

IES Stock Performance

IES stock opened at $264.90 on Friday. The company’s fifty day moving average price is $210.18 and its 200 day moving average price is $173.26. The stock has a market capitalization of $5.29 billion, a P/E ratio of 31.20 and a beta of 1.37. IES Holdings, Inc. has a 1 year low of $64.50 and a 1 year high of $297.07.

IES announced that its Board of Directors has initiated a share buyback plan on Friday, August 2nd that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the technology company to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Transactions at IES

In other IES news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the firm’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 transaction, the chief executive officer now directly owns 10,934,845 shares of the company’s stock, valued at $1,751,762,169. This trade represents a 0.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Todd M. Cleveland sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $153.57, for a total value of $1,535,700.00. Following the completion of the sale, the director now owns 104,654 shares of the company’s stock, valued at $16,071,714.78. This trade represents a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 105,208 shares of company stock valued at $16,967,207 over the last 90 days. Corporate insiders own 59.19% of the company’s stock.

Analysts Set New Price Targets

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

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.