Colonial River Investments LLC acquired a new stake in shares of IES Holdings, Inc. (NASDAQ:IESC - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,794 shares of the technology company's stock, valued at approximately $757,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of IESC. Quest Partners LLC increased its position in shares of IES by 41.0% during the second quarter. Quest Partners LLC now owns 296 shares of the technology company's stock valued at $41,000 after buying an additional 86 shares during the period. Andina Capital Management LLC increased its position in shares of IES by 4.0% during the third quarter. Andina Capital Management LLC now owns 2,496 shares of the technology company's stock valued at $498,000 after buying an additional 96 shares during the period. CWM LLC increased its position in shares of IES by 17.2% during the third quarter. CWM LLC now owns 682 shares of the technology company's stock valued at $136,000 after buying an additional 100 shares during the period. Ellsworth Advisors LLC increased its position in shares of IES by 2.7% during the second quarter. Ellsworth Advisors LLC now owns 5,806 shares of the technology company's stock valued at $809,000 after buying an additional 151 shares during the period. Finally, Cetera Investment Advisers increased its position in shares of IES by 2.2% during the second quarter. Cetera Investment Advisers now owns 8,690 shares of the technology company's stock valued at $1,211,000 after buying an additional 190 shares during the period. 86.60% of the stock is owned by institutional investors.
IES Trading Up 5.4 %
IESC traded up $14.69 during midday trading on Friday, reaching $285.55. The company's stock had a trading volume of 157,474 shares, compared to its average volume of 109,852. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 33.63 and a beta of 1.37. IES Holdings, Inc. has a 1 year low of $60.33 and a 1 year high of $285.56. The stock's 50-day moving average is $201.36 and its 200-day moving average is $169.46.
IES declared that its board has authorized a stock buyback program on Friday, August 2nd that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.
Insiders Place Their Bets
In other IES news, CFO Tracy Mclauchlin sold 5,000 shares of the company's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $176.73, for a total value of $883,650.00. Following the sale, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Tracy Mclauchlin sold 5,000 shares of the 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 sale, the chief financial officer now owns 64,377 shares in the company, valued at $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 is available through the SEC website. Also, Director Todd M. Cleveland sold 10,000 shares of the 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 sale, the director now owns 104,654 shares in the company, valued at approximately $16,071,714.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,208 shares of company stock worth $17,850,857. 59.19% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Separately, StockNews.com cut shares of IES from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th.
View Our Latest Research Report on IES
IES Company 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.
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