Precision Wealth Strategies LLC Takes Position in IES Holdings, Inc. (NASDAQ:IESC)

Precision Wealth Strategies LLC bought a new stake in IES Holdings, Inc. (NASDAQ:IESC) during the 3rd quarter, Holdings Channel reports. The fund bought 2,045 shares of the technology company’s stock, valued at approximately $408,000.

Other hedge funds also recently modified their holdings of the company. Hennessy Advisors Inc. bought a new position in IES during the 2nd quarter worth approximately $9,558,000. Apis Capital Advisors LLC bought a new position in IES during the 2nd quarter worth approximately $6,409,000. Vanguard Group Inc. boosted its stake in IES by 10.0% during the 1st quarter. Vanguard Group Inc. now owns 479,315 shares of the technology company’s stock worth $58,304,000 after acquiring an additional 43,634 shares during the last quarter. SG Americas Securities LLC bought a new position in IES during the 2nd quarter worth approximately $3,328,000. Finally, Aurora Investment Counsel bought a new position in IES during the 1st quarter worth approximately $2,584,000. Institutional investors own 86.60% of the company’s stock.

IES Stock Performance

Shares of IESC opened at $228.72 on Tuesday. IES Holdings, Inc. has a twelve month low of $59.75 and a twelve month high of $234.81. The firm’s 50 day moving average price is $185.01 and its two-hundred day moving average price is $158.37. The firm has a market cap of $4.63 billion, a P/E ratio of 34.50 and a beta of 1.38.

IES (NASDAQ:IESC) last announced its quarterly earnings results 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 firm had revenue of $768.40 million for the quarter.

IES declared that its Board of Directors has authorized a share buyback program on Friday, August 2nd that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at IES

In other news, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of IES stock in a transaction that occurred 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 directly owns 11,134,087 shares in the company, valued at $1,788,245,713.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director David B. Gendell sold 10,000 shares of IES stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $187.26, for a total value of $1,872,600.00. Following the sale, the director now directly owns 127,976 shares in the company, valued at $23,964,785.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of IES stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 11,134,087 shares in the company, valued at $1,788,245,713.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 160,966 shares of company stock valued at $26,003,099. 59.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of IES from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th.

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.