Assenagon Asset Management S.A. Cuts Position in IES Holdings, Inc. (NASDAQ:IESC)

Assenagon Asset Management S.A. lowered its position in IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 5.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 84,779 shares of the technology company's stock after selling 4,551 shares during the quarter. Assenagon Asset Management S.A. owned 0.42% of IES worth $16,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in IESC. Sunbelt Securities Inc. acquired a new position in shares of IES during the first quarter worth $48,000. Allspring Global Investments Holdings LLC lifted its holdings in IES by 5,687.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,794 shares of the technology company's stock worth $218,000 after buying an additional 1,763 shares during the period. Principal Financial Group Inc. bought a new stake in shares of IES in the 1st quarter valued at about $505,000. Peterson Wealth Services grew its position in shares of IES by 151.8% in the 1st quarter. Peterson Wealth Services now owns 6,937 shares of the technology company's stock valued at $844,000 after buying an additional 4,182 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of IES by 31.1% in the first quarter. BNP Paribas Financial Markets now owns 20,727 shares of the technology company's stock valued at $2,521,000 after buying an additional 4,913 shares during the period. Institutional investors own 86.60% of the company's stock.

IES Stock Down 1.1 %

IES stock traded down $2.24 during trading hours on Friday, reaching $207.99. 87,316 shares of the company's stock were exchanged, compared to its average volume of 121,575. The firm's 50 day simple moving average is $189.35 and its 200 day simple moving average is $161.38. IES Holdings, Inc. has a twelve month low of $59.75 and a twelve month high of $234.81. The firm has a market capitalization of $4.16 billion, a PE ratio of 24.50 and a beta of 1.38.

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

IES announced that its Board of Directors has approved 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.

Insider Buying and Selling at IES

In related news, CFO Tracy Mclauchlin sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $176.73, for a total transaction of $883,650.00. Following the transaction, the chief financial officer now directly owns 64,377 shares of the company's stock, valued at approximately $11,377,347.21. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other IES news, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the firm's stock in a transaction 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 transaction, the chief executive officer now directly owns 11,134,087 shares of the company's stock, valued at approximately $1,788,245,713.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Tracy Mclauchlin sold 5,000 shares of the business's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $176.73, for a total transaction of $883,650.00. Following the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 160,966 shares of company stock valued at $26,003,099. Corporate insiders own 59.19% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of IES from a "hold" rating to a "buy" rating in a report on Wednesday.

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.