Truvestments Capital LLC Raises Stock Position in IES Holdings, Inc. (NASDAQ:IESC)

Truvestments Capital LLC grew its holdings in IES Holdings, Inc. (NASDAQ:IESC) by 9.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,286 shares of the technology company’s stock after purchasing an additional 441 shares during the quarter. Truvestments Capital LLC’s holdings in IES were worth $1,055,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Federated Hermes Inc. boosted its position in IES by 258.7% in the 2nd quarter. Federated Hermes Inc. now owns 269 shares of the technology company’s stock valued at $37,000 after buying an additional 194 shares during the period. Quest Partners LLC boosted its holdings 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 purchasing an additional 86 shares during the period. Gladius Capital Management LP acquired a new position in IES during the 3rd quarter worth $44,000. Contravisory Investment Management Inc. purchased a new stake in IES during the 2nd quarter worth about $48,000. Finally, CWM LLC raised its position in IES by 252.7% in the 2nd quarter. CWM LLC now owns 582 shares of the technology company’s stock valued at $81,000 after purchasing an additional 417 shares in the last quarter. Institutional investors and hedge funds own 86.60% of the company’s stock.

IES Trading Up 2.1 %

Shares of IESC opened at $283.76 on Monday. The company’s 50 day simple moving average is $224.35 and its 200-day simple moving average is $178.56. The firm has a market cap of $5.67 billion, a PE ratio of 28.11 and a beta of 1.37. IES Holdings, Inc. has a 12-month low of $68.78 and a 12-month high of $297.07.

IES declared that its board has authorized a share repurchase plan on Friday, August 2nd that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is 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 Buying and Selling

In other news, Director David B. Gendell sold 10,000 shares of the stock in a transaction dated Friday, August 30th. The shares were 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 owns 127,976 shares in the company, valued at approximately $23,964,785.76. This represents a 7.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $160.20, for a total value of $5,982,989.40. Following the completion of the transaction, the chief executive officer now owns 10,934,845 shares in the company, valued at $1,751,762,169. This trade represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 105,208 shares of company stock worth $16,967,207 in the last 90 days. Company insiders own 59.19% of the company’s stock.

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.