Navellier & Associates Inc. Trims Stake in IES Holdings, Inc. (NASDAQ:IESC)

Navellier & Associates Inc. lowered its stake in shares of IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 42.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,037 shares of the technology company's stock after selling 2,230 shares during the period. Navellier & Associates Inc.'s holdings in IES were worth $606,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Gladius Capital Management LP bought a new stake in IES during the third quarter worth $44,000. Federated Hermes Inc. grew its stake in shares of IES by 258.7% in the 2nd quarter. Federated Hermes Inc. now owns 269 shares of the technology company's stock worth $37,000 after acquiring an additional 194 shares in the last quarter. Quest Partners LLC raised its holdings in shares of IES by 41.0% in the second quarter. Quest Partners LLC now owns 296 shares of the technology company's stock valued at $41,000 after purchasing an additional 86 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in shares of IES during the second quarter valued at about $48,000. Finally, CWM LLC boosted its holdings 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 last quarter. 86.60% of the stock is owned by institutional investors.

IES Stock Up 2.8 %

IESC stock traded up $7.54 during midday trading on Friday, hitting $278.01. The company's stock had a trading volume of 253,628 shares, compared to its average volume of 134,052. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 32.75 and a beta of 1.37. The stock's 50-day moving average price is $224.35 and its 200 day moving average price is $178.48. IES Holdings, Inc. has a 1 year low of $68.78 and a 1 year high of $297.07.

IES declared that its board 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 purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Todd M. Cleveland sold 10,000 shares of the company's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $153.57, for a total transaction of $1,535,700.00. Following the transaction, the director now owns 104,654 shares of the company's stock, valued at $16,071,714.78. This represents a 8.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of IES stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $158.29, for a total value of $7,575,917.69. Following the completion of the sale, the chief executive officer now directly owns 11,036,984 shares of the company's stock, valued at approximately $1,747,044,197.36. This trade represents a 0.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 105,208 shares of company stock valued at $16,967,207. Company insiders own 59.19% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of IES from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th.

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.