Ritholtz Wealth Management Acquires 197 Shares of IES Holdings, Inc. (NASDAQ:IESC)

Ritholtz Wealth Management increased its holdings in shares of IES Holdings, Inc. (NASDAQ:IESC) by 6.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,337 shares of the technology company’s stock after acquiring an additional 197 shares during the period. Ritholtz Wealth Management’s holdings in IES were worth $666,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IESC. Federated Hermes Inc. boosted its position in shares of IES by 258.7% in the 2nd 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 boosted its holdings in IES by 41.0% in the second 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. Sunbelt Securities Inc. purchased a new stake in shares of IES in the first quarter worth $48,000. Contravisory Investment Management Inc. bought a new position in shares of IES during the second quarter valued at $48,000. Finally, CWM LLC raised its position in shares of IES by 252.7% in the 2nd quarter. CWM LLC now owns 582 shares of the technology company’s stock worth $81,000 after purchasing an additional 417 shares during the last quarter. Hedge funds and other institutional investors own 86.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other IES news, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $160.61, for a total transaction of $8,152,242.38. Following the transaction, the chief executive officer now owns 11,134,087 shares in the company, valued at approximately $1,788,245,713.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Todd M. Cleveland sold 10,000 shares of IES stock in a transaction on Wednesday, September 11th. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $160.61, for a total value of $8,152,242.38. Following the sale, the chief executive officer now 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 160,966 shares of company stock worth $26,003,099. 59.19% of the stock is owned by corporate insiders.

IES Stock Down 3.6 %

NASDAQ:IESC opened at $219.94 on Wednesday. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 33.17 and a beta of 1.38. The company’s 50 day moving average price is $181.05 and its 200-day moving average price is $156.18. IES Holdings, Inc. has a 52 week low of $59.75 and a 52 week high of $234.81.

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

IES announced that its board has approved a stock buyback plan on Friday, August 2nd that allows the company to buyback $200.00 million in shares. This buyback authorization allows the technology company to buy up to 5.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

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.