SG Americas Securities LLC Sells 18,096 Shares of IES Holdings, Inc. (NASDAQ:IESC)

SG Americas Securities LLC lessened its position in IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 75.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,789 shares of the technology company's stock after selling 18,096 shares during the period. SG Americas Securities LLC's holdings in IES were worth $1,156,000 at the end of the most recent quarter.

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

IES Stock Up 4.2 %

Shares of IESC traded up $8.83 during midday trading on Friday, reaching $219.79. 110,901 shares of the stock were exchanged, compared to its average volume of 134,693. The stock's 50 day simple moving average is $176.95 and its 200 day simple moving average is $153.47. IES Holdings, Inc. has a twelve month low of $59.75 and a twelve month high of $220.04. The company has a market cap of $4.39 billion, a P/E ratio of 24.85 and a beta of 1.38.

IES (NASDAQ:IESC - Get Free Report) last posted its quarterly earnings data on Friday, August 2nd. The technology company reported $2.67 earnings per share (EPS) 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 during the quarter.

IES declared that its Board of Directors has initiated a stock buyback plan on Friday, August 2nd that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 5.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling

In other IES news, Director David B. Gendell sold 10,000 shares of IES stock in a transaction on Friday, August 30th. The stock was sold at an average price of $187.26, for a total value of $1,872,600.00. Following the completion of the transaction, the director now directly owns 127,976 shares of the company's stock, valued at $23,964,785.76. 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 related news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of IES 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David B. Gendell sold 10,000 shares of the business's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $187.26, for a total transaction of $1,872,600.00. Following the transaction, the director now owns 127,976 shares of the company's stock, valued at approximately $23,964,785.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 160,966 shares of company stock valued at $26,003,099 over the last 90 days. 59.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered IES from a "strong-buy" rating to a "buy" rating in a research note 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.