Thrivent Financial for Lutherans Invests $10.43 Million in IES Holdings, Inc. (NASDAQ:IESC)

Thrivent Financial for Lutherans acquired a new position in IES Holdings, Inc. (NASDAQ:IESC - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,229 shares of the technology company's stock, valued at approximately $10,426,000. Thrivent Financial for Lutherans owned 0.26% of IES as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in IES during the second quarter worth approximately $3,328,000. Truvestments Capital LLC acquired a new stake in shares of IES in the first quarter valued at $499,000. Acadian Asset Management LLC boosted its stake in IES by 1,863.1% during the first quarter. Acadian Asset Management LLC now owns 12,446 shares of the technology company's stock valued at $1,512,000 after buying an additional 11,812 shares in the last quarter. Janus Henderson Group PLC grew its holdings in IES by 27.4% during the first quarter. Janus Henderson Group PLC now owns 26,609 shares of the technology company's stock worth $3,237,000 after acquiring an additional 5,720 shares during the period. Finally, Versor Investments LP bought a new stake in IES in the second quarter worth about $934,000. Institutional investors own 86.60% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at IES

In other IES news, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of IES stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $158.29, for a total transaction of $7,575,917.69. Following the completion of the sale, the chief executive officer now owns 11,036,984 shares of the company's stock, valued at $1,747,044,197.36. This trade represents a 0.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David B. Gendell sold 10,000 shares of the company's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $187.26, for a total transaction of $1,872,600.00. Following the completion of the transaction, the director now directly owns 127,976 shares in the company, valued at $23,964,785.76. This trade represents a 7.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 105,208 shares of company stock valued at $16,967,207 in the last three months. 59.19% of the stock is currently owned by company insiders.

IES Trading Up 2.8 %

Shares of IES stock traded up $7.54 on Friday, reaching $278.01. 253,628 shares of the company were exchanged, compared to its average volume of 134,052. IES Holdings, Inc. has a fifty-two week low of $68.78 and a fifty-two week high of $297.07. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 33.64 and a beta of 1.37. The stock has a fifty day moving average price of $222.01 and a 200-day moving average price of $177.72.

IES announced that its Board of Directors has approved a stock buyback plan on Friday, August 2nd that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the technology company to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

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.