Marshall Wace LLP Acquires Shares of 4,534 IES Holdings, Inc. (NASDAQ:IESC)

Marshall Wace LLP bought a new position in shares of IES Holdings, Inc. (NASDAQ:IESC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,534 shares of the technology company’s stock, valued at approximately $632,000.

A number of other hedge funds have also modified their holdings of IESC. Apis Capital Advisors LLC purchased a new stake in IES during the 2nd quarter valued at about $6,409,000. Gabelli Funds LLC acquired a new position in shares of IES during the 2nd quarter worth approximately $209,000. XTX Topco Ltd grew its position in shares of IES by 64.2% in the second quarter. XTX Topco Ltd now owns 4,314 shares of the technology company’s stock valued at $601,000 after purchasing an additional 1,686 shares in the last quarter. Seven Eight Capital LP acquired a new stake in shares of IES in the second quarter valued at approximately $611,000. Finally, Renaissance Technologies LLC lifted its position in 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 buying an additional 5,100 shares in the last quarter. 86.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

IES Price Performance

Shares of IESC stock opened at $213.76 on Wednesday. The company has a market capitalization of $4.33 billion, a PE ratio of 32.24 and a beta of 1.38. The firm’s 50-day moving average is $174.58 and its two-hundred day moving average is $152.70. IES Holdings, Inc. has a 12 month low of $59.75 and a 12 month high of $219.14.

IES (NASDAQ:IESC) last released its quarterly earnings results on Friday, August 2nd. The technology company reported $2.67 EPS for the quarter. The firm 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 declared that its Board of Directors has approved a share 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 repurchase up to 5.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the firm’s stock in a transaction dated 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 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 shares were 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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Tracy Mclauchlin sold 5,000 shares of IES stock in a transaction that occurred 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 sale, the chief financial officer now 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 have sold a total of 160,966 shares of company stock valued at $26,003,099 in the last quarter. Insiders own 59.19% of the company’s stock.

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.