The Manufacturers Life Insurance Company Has $1.04 Million Stake in IES Holdings, Inc. (NASDAQ:IESC)

The Manufacturers Life Insurance Company grew its holdings in IES Holdings, Inc. (NASDAQ:IESC) by 4.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,434 shares of the technology company’s stock after buying an additional 322 shares during the period. The Manufacturers Life Insurance Company’s holdings in IES were worth $1,036,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Federated Hermes Inc. increased its stake in shares of 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 during the period. Quest Partners LLC lifted its holdings in IES by 41.0% during the 2nd quarter. Quest Partners LLC now owns 296 shares of the technology company’s stock worth $41,000 after purchasing an additional 86 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in IES during the 2nd quarter worth approximately $48,000. Sunbelt Securities Inc. acquired a new stake in IES during the 1st quarter worth approximately $48,000. Finally, CWM LLC lifted its holdings 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 purchasing an additional 417 shares during the last quarter. 86.60% of the stock is owned by institutional investors and hedge funds.

IES Trading Up 4.2 %

NASDAQ:IESC opened at $219.79 on Friday. The stock has a market cap of $4.45 billion, a P/E ratio of 33.15 and a beta of 1.38. The stock has a 50 day simple moving average of $178.25 and a 200 day simple moving average of $154.47. IES Holdings, Inc. has a 1-year low of $59.75 and a 1-year high of $220.04.

IES (NASDAQ:IESC) last released its quarterly earnings results on Friday, August 2nd. The technology company reported $2.67 earnings per share 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 declared that its board has approved a share repurchase program 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 programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at IES

In other IES news, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of IES stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $160.61, for a total value of $8,152,242.38. Following the completion of the transaction, the chief executive officer now directly owns 11,134,087 shares of the company’s stock, valued at $1,788,245,713.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other IES news, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of IES stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $160.61, for a total value of $8,152,242.38. Following the completion of the transaction, the chief executive officer now directly owns 11,134,087 shares of the company’s stock, valued at $1,788,245,713.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of IES stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $158.29, for a total value of $7,575,917.69. Following the completion of the transaction, the chief executive officer now directly owns 11,036,984 shares of the company’s stock, valued at $1,747,044,197.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 160,966 shares of company stock valued at $26,003,099 in the last three months. Corporate insiders own 59.19% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut IES from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th.

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.