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

Optimum Investment Advisors acquired a new position in shares of IES Holdings, Inc. (NASDAQ:IESC - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,000 shares of the technology company's stock, valued at approximately $599,000.

Other large investors also recently bought and sold shares of the company. Federated Hermes Inc. increased 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 valued at $37,000 after purchasing an additional 194 shares in the last quarter. Quest Partners LLC boosted its position in shares of 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 during the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of IES in the second quarter worth approximately $48,000. Sunbelt Securities Inc. purchased a new position in IES in the first quarter valued at approximately $48,000. Finally, CWM LLC raised its holdings in IES by 252.7% in the second quarter. CWM LLC now owns 582 shares of the technology company's stock valued at $81,000 after buying an additional 417 shares during the period. Hedge funds and other institutional investors own 86.60% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered 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, Director David B. Gendell sold 10,000 shares of IES stock in a transaction 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 completion of the transaction, the director now owns 127,976 shares of the company's stock, valued at $23,964,785.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Tracy Mclauchlin sold 5,000 shares of the business's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $176.73, for a total transaction of $883,650.00. Following the completion of the transaction, the chief financial officer now owns 64,377 shares of the company's stock, valued at approximately $11,377,347.21. 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 can be accessed through the SEC website. Also, Director David B. Gendell sold 10,000 shares of the business's stock in a transaction 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 directly owns 127,976 shares of the company's stock, valued at approximately $23,964,785.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 160,966 shares of company stock worth $26,003,099. Insiders own 59.19% of the company's stock.

IES Price Performance

Shares of NASDAQ:IESC traded down $1.04 during midday trading on Friday, reaching $228.86. The company had a trading volume of 75,874 shares, compared to its average volume of 134,264. The stock's fifty day moving average price is $185.01 and its 200-day moving average price is $157.91. The stock has a market capitalization of $4.63 billion, a P/E ratio of 34.52 and a beta of 1.38. IES Holdings, Inc. has a one year low of $59.75 and a one year high of $234.81.

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

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