IES Holdings, Inc. (NASDAQ:IESC) Holdings Lifted by Summit Partners Public Asset Management LLC

Summit Partners Public Asset Management LLC increased its holdings in shares of IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 165.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 119,438 shares of the technology company's stock after purchasing an additional 74,438 shares during the period. Summit Partners Public Asset Management LLC owned 0.60% of IES worth $23,842,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Gladius Capital Management LP purchased a new stake in shares of IES in the third quarter worth about $44,000. Federated Hermes Inc. boosted its holdings in 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 during the period. Quest Partners LLC grew its position in 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 acquiring an additional 86 shares in the last quarter. Contravisory Investment Management Inc. acquired a new stake in IES during the 2nd quarter valued at $48,000. Finally, CWM LLC increased its position in shares of IES by 252.7% during the second quarter. CWM LLC now owns 582 shares of the technology company's stock worth $81,000 after acquiring an additional 417 shares during the last quarter. 86.60% of the stock is currently owned by institutional investors and hedge funds.

IES Trading Up 8.0 %

IES stock traded up $22.91 during midday trading on Friday, hitting $309.86. The stock had a trading volume of 136,752 shares, compared to its average volume of 135,730. The business has a fifty day moving average price of $233.94 and a 200 day moving average price of $181.58. IES Holdings, Inc. has a 12 month low of $68.78 and a 12 month high of $318.99. The stock has a market cap of $6.19 billion, a P/E ratio of 31.40 and a beta of 1.37.

IES declared that its Board of Directors has approved a share buyback program on Friday, August 2nd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

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

Insider Activity

In other news, Director Todd M. Cleveland sold 10,000 shares of the company'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 transaction of $1,535,700.00. Following the completion of the transaction, the director now directly owns 104,654 shares of the company's stock, valued at approximately $16,071,714.78. This represents a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 11,036,984 shares in the company, valued at $1,747,044,197.36. The trade was a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,708 shares of company stock worth $15,810,182. 59.19% of the stock is currently owned by insiders.

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.