Versor Investments LP Trims Stock Position in IES Holdings, Inc. (NASDAQ:IESC)

Versor Investments LP cut its position in IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 71.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of IESC. Vanguard Group Inc. boosted its position in IES by 10.0% during the 1st quarter. Vanguard Group Inc. now owns 479,315 shares of the technology company's stock valued at $58,304,000 after buying an additional 43,634 shares during the period. Renaissance Technologies LLC boosted its position in IES by 2.8% during the 2nd quarter. Renaissance Technologies LLC now owns 186,532 shares of the technology company's stock valued at $25,990,000 after buying an additional 5,100 shares during the period. Assenagon Asset Management S.A. boosted its position in IES by 12.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 89,330 shares of the technology company's stock valued at $12,446,000 after buying an additional 9,942 shares during the period. Kennedy Capital Management LLC boosted its position in IES by 11.4% during the 1st quarter. Kennedy Capital Management LLC now owns 75,963 shares of the technology company's stock valued at $9,240,000 after buying an additional 7,800 shares during the period. Finally, Hennessy Advisors Inc. purchased a new stake in shares of IES in the 2nd quarter worth about $9,558,000. 86.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at IES

In other news, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of the company's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $158.29, for a total value of $7,575,917.69. Following the transaction, the chief executive officer now directly owns 11,036,984 shares in the company, valued at approximately $1,747,044,197.36. This represents a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David B. Gendell sold 10,000 shares of the company's stock in a transaction dated 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 sale, the director now directly owns 127,976 shares of the company's stock, valued at approximately $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. Over the last ninety days, insiders sold 105,208 shares of company stock worth $16,967,207. 59.19% of the stock is owned by company insiders.

IES Stock Performance

Shares of IESC stock traded down $6.88 during trading hours on Friday, reaching $258.02. The company had a trading volume of 142,894 shares, compared to its average volume of 132,892. The business has a fifty day moving average price of $210.18 and a 200-day moving average price of $173.26. IES Holdings, Inc. has a one year low of $64.50 and a one year high of $297.07. The firm has a market cap of $5.16 billion, a PE ratio of 31.20 and a beta of 1.37.

IES announced that its board has approved a stock repurchase program on Friday, August 2nd that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

IES Company 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.