The Manufacturers Life Insurance Company Acquires 322 Shares of IES Holdings, Inc. (NASDAQ:IESC)

The Manufacturers Life Insurance Company grew its holdings in IES Holdings, Inc. (NASDAQ:IESCFree Report) by 4.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,434 shares of the technology company’s stock after acquiring an additional 322 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in IES were worth $1,036,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of IESC. Virtu Financial LLC bought a new stake in shares of IES in the fourth quarter worth about $259,000. Quadrature Capital Ltd boosted its position in shares of IES by 11.4% during the fourth quarter. Quadrature Capital Ltd now owns 16,537 shares of the technology company’s stock worth $1,310,000 after buying an additional 1,687 shares during the period. Sunbelt Securities Inc. acquired a new position in shares of IES during the first quarter worth about $48,000. Allspring Global Investments Holdings LLC boosted its position in shares of IES by 5,687.1% during the first 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. Finally, Principal Financial Group Inc. acquired a new position in shares of IES during the first quarter worth about $505,000. 86.60% of the stock is currently owned by institutional investors.

Insider Activity at IES

In related news, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $160.61, for a total transaction of $8,152,242.38. Following the completion of 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Todd M. Cleveland sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $153.57, for a total value of $1,535,700.00. Following the completion of the sale, the director now directly owns 104,654 shares of the company’s stock, valued at $16,071,714.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 11,134,087 shares of the company’s stock, valued at approximately $1,788,245,713.07. 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. Insiders own 59.19% of the company’s stock.

Wall Street Analyst Weigh In

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

Get Our Latest Report on IESC

IES Price Performance

IESC stock opened at $219.79 on Friday. The stock has a market capitalization of $4.45 billion, a P/E ratio of 33.15 and a beta of 1.38. The business has a 50-day moving average of $178.25 and a 200-day moving average of $154.47. IES Holdings, Inc. has a fifty-two week low of $59.75 and a fifty-two week high of $220.04.

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

IES announced that its board has initiated a share buyback plan on Friday, August 2nd that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

IES Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for IES (NASDAQ:IESC)

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