Cavalier Investments LLC Purchases New Position in IES Holdings, Inc. (NASDAQ:IESC)

Cavalier Investments LLC bought a new stake in IES Holdings, Inc. (NASDAQ:IESC - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,472 shares of the technology company's stock, valued at approximately $1,092,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of IESC. SG Americas Securities LLC purchased a new position in IES during the 2nd quarter valued at about $3,328,000. BNP Paribas Financial Markets raised its position in shares of IES by 31.1% during the 1st quarter. BNP Paribas Financial Markets now owns 20,727 shares of the technology company's stock worth $2,521,000 after purchasing an additional 4,913 shares during the last quarter. Truvestments Capital LLC purchased a new stake in IES in the 1st quarter valued at approximately $499,000. Acadian Asset Management LLC lifted its stake in IES by 1,863.1% in the 1st quarter. Acadian Asset Management LLC now owns 12,446 shares of the technology company's stock valued at $1,512,000 after buying an additional 11,812 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in IES by 27.4% during the 1st quarter. Janus Henderson Group PLC now owns 26,609 shares of the technology company's stock valued at $3,237,000 after buying an additional 5,720 shares during the last quarter. 86.60% of the stock is currently owned by institutional investors and hedge funds.

IES Trading Up 1.6 %

Shares of IES stock traded up $3.32 during mid-day trading on Monday, hitting $211.31. 83,166 shares of the stock were exchanged, compared to its average volume of 133,181. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 31.87 and a beta of 1.38. IES Holdings, Inc. has a twelve month low of $60.32 and a twelve month high of $234.81. The company has a 50-day simple moving average of $190.12 and a 200 day simple moving average of $161.99.

IES (NASDAQ:IESC - Get Free Report) last announced its quarterly earnings data 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 for the quarter. IES had a net margin of 6.30% and a return on equity of 34.38%.

IES announced that its board has approved a share repurchase program on Friday, August 2nd that permits the company to buyback $200.00 million in shares. This buyback authorization permits the technology company to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In related news, CFO Tracy Mclauchlin sold 5,000 shares of the 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 transaction, the chief financial officer now directly owns 64,377 shares in the company, valued at approximately $11,377,347.21. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the business's 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 completion of the sale, the chief executive officer now directly owns 10,934,845 shares in the company, valued at approximately $1,751,762,169. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 $11,377,347.21. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 160,966 shares of company stock valued at $26,003,099 over the last quarter. Company insiders own 59.19% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded IES from a "hold" rating to a "buy" rating in a research report on Wednesday, October 23rd.

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.