Optimum Investment Advisors Makes New $599,000 Investment in IES Holdings, Inc. (NASDAQ:IESC)

Optimum Investment Advisors bought a new position in shares of IES Holdings, Inc. (NASDAQ:IESC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,000 shares of the technology company’s stock, valued at approximately $599,000.

Other hedge funds also recently modified their holdings of the company. Federated Hermes Inc. raised its holdings 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 during the period. Quest Partners LLC raised its holdings in shares of IES by 41.0% in 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 period. Sunbelt Securities Inc. purchased a new position in IES in the 1st quarter valued at approximately $48,000. Contravisory Investment Management Inc. purchased a new position in IES in the 2nd quarter valued at approximately $48,000. Finally, CWM LLC grew its stake in IES by 252.7% in the 2nd quarter. CWM LLC now owns 582 shares of the technology company’s stock valued at $81,000 after buying an additional 417 shares in the last quarter. Institutional investors own 86.60% of the company’s stock.

Insider Activity

In other news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $160.20, for a total transaction of $5,982,989.40. Following the completion of the transaction, the chief executive officer now directly owns 10,934,845 shares in the company, valued at $1,751,762,169. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $160.20, for a total transaction of $5,982,989.40. Following the completion of the transaction, the chief executive officer now directly owns 10,934,845 shares in the company, valued at $1,751,762,169. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $158.29, for a total transaction of $7,575,917.69. Following the transaction, the chief executive officer now owns 11,036,984 shares of the company’s stock, valued at $1,747,044,197.36. This trade 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 worth $26,003,099 in the last three months. Corporate insiders own 59.19% of the company’s stock.

IES Trading Up 2.1 %

IES stock opened at $229.90 on Friday. IES Holdings, Inc. has a 1-year low of $59.75 and a 1-year high of $234.81. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 34.68 and a beta of 1.38. The firm has a 50 day simple moving average of $183.71 and a 200 day simple moving average of $157.18.

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

IES announced that its board has initiated a share repurchase program on Friday, August 2nd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

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

About IES

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.