Versor Investments LP Decreases Stake in IES Holdings, Inc. (NASDAQ:IESC)

Versor Investments LP cut its position in shares of IES Holdings, Inc. (NASDAQ:IESC) by 71.7% during the third quarter, Holdings Channel.com reports. The firm owned 1,893 shares of the technology company’s stock after selling 4,807 shares during the quarter. Versor Investments LP’s holdings in IES were worth $378,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Federated Hermes Inc. raised its stake in IES by 258.7% during the second 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 period. Quest Partners LLC raised its stake in IES by 41.0% during the second quarter. Quest Partners LLC now owns 296 shares of the technology company’s stock worth $41,000 after purchasing an additional 86 shares during the period. Contravisory Investment Management Inc. purchased a new position in IES during the second quarter worth about $48,000. CWM LLC raised its stake in IES by 252.7% during the second quarter. CWM LLC now owns 582 shares of the technology company’s stock worth $81,000 after purchasing an additional 417 shares during the period. Finally, EntryPoint Capital LLC raised its stake in IES by 217.0% during the first quarter. EntryPoint Capital LLC now owns 1,065 shares of the technology company’s stock worth $130,000 after purchasing an additional 729 shares during the period. 86.60% of the stock is owned by hedge funds and other institutional investors.

IES Stock Performance

IES stock opened at $264.90 on Friday. The company’s 50 day simple moving average is $210.18 and its 200-day simple moving average is $173.26. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 31.20 and a beta of 1.37. IES Holdings, Inc. has a 1 year low of $64.50 and a 1 year high of $297.07.

IES declared that its Board of Directors has authorized a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of IES from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th.

Insider Activity

In related news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of IES 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 transaction, the chief executive officer now owns 10,934,845 shares in the company, valued at approximately $1,751,762,169. The trade was a 0.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Todd M. Cleveland sold 10,000 shares of IES stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $153.57, for a total transaction of $1,535,700.00. Following the completion of the transaction, the director now owns 104,654 shares of the company’s stock, valued at $16,071,714.78. This trade represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 105,208 shares of company stock valued at $16,967,207. Company insiders own 59.19% of the company’s stock.

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.