Gabelli Funds LLC Invests $209,000 in IES Holdings, Inc. (NASDAQ:IESC)

Gabelli Funds LLC acquired a new stake in IES Holdings, Inc. (NASDAQ:IESC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,500 shares of the technology company’s stock, valued at approximately $209,000.

Other large investors have also modified their holdings of the company. XTX Topco Ltd increased its position in IES by 64.2% during the second quarter. XTX Topco Ltd now owns 4,314 shares of the technology company’s stock worth $601,000 after purchasing an additional 1,686 shares during the last quarter. Seven Eight Capital LP acquired a new stake in IES during the 2nd quarter valued at $611,000. Renaissance Technologies LLC increased its position in shares of IES by 2.8% during the second quarter. Renaissance Technologies LLC now owns 186,532 shares of the technology company’s stock worth $25,990,000 after acquiring an additional 5,100 shares during the last quarter. Federated Hermes Inc. increased its holdings in IES by 258.7% during the 2nd quarter. Federated Hermes Inc. now owns 269 shares of the technology company’s stock worth $37,000 after purchasing an additional 194 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of IES by 57.9% in the second quarter. American Century Companies Inc. now owns 55,167 shares of the technology company’s stock worth $7,686,000 after buying an additional 20,240 shares during the last quarter. 86.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director David B. Gendell sold 10,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 127,976 shares in the company, valued at $23,964,785.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director David B. Gendell sold 10,000 shares of the company’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 value of $1,872,600.00. Following the completion of the sale, the director now directly owns 127,976 shares of the company’s stock, valued at approximately $23,964,785.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $160.61, for a total value of $8,152,242.38. Following the completion of the sale, the chief executive officer now owns 11,134,087 shares of the company’s stock, valued at $1,788,245,713.07. 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. 59.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded IES from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th.

IES Price Performance

IES stock opened at $199.70 on Friday. IES Holdings, Inc. has a 12 month low of $59.75 and a 12 month high of $207.05. The company has a fifty day moving average price of $166.28 and a two-hundred day moving average price of $147.29. The company has a market cap of $4.04 billion, a PE ratio of 30.12 and a beta of 1.38.

IES (NASDAQ:IESC) last posted its quarterly earnings results on Friday, August 2nd. The technology company reported $2.67 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 announced that its Board of Directors has approved a stock buyback program on Friday, August 2nd that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the technology company to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.