Petra Financial Advisors Inc. Buys 481 Shares of IES Holdings, Inc. (NASDAQ:IESC)

Petra Financial Advisors Inc. grew its holdings in IES Holdings, Inc. (NASDAQ:IESC) by 14.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,899 shares of the technology company’s stock after acquiring an additional 481 shares during the quarter. Petra Financial Advisors Inc.’s holdings in IES were worth $778,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Federated Hermes Inc. grew its stake in IES by 258.7% in the second quarter. Federated Hermes Inc. now owns 269 shares of the technology company’s stock valued at $37,000 after purchasing an additional 194 shares in the last quarter. Quest Partners LLC raised its holdings in IES by 41.0% in the 2nd 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. bought a new stake in IES during the second quarter worth about $48,000. CWM LLC increased its stake in IES by 252.7% in the second quarter. CWM LLC now owns 582 shares of the technology company’s stock valued at $81,000 after acquiring an additional 417 shares during the last quarter. Finally, EntryPoint Capital LLC lifted its position in shares of IES by 217.0% during the 1st quarter. EntryPoint Capital LLC now owns 1,065 shares of the technology company’s stock worth $130,000 after buying an additional 729 shares during the last quarter. 86.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com upgraded IES from a “hold” rating to a “buy” rating in a research report on Wednesday, October 23rd.

IES Stock Performance

Shares of NASDAQ:IESC traded down $3.97 during trading on Thursday, reaching $213.50. The stock had a trading volume of 4,889 shares, compared to its average volume of 131,880. The firm’s fifty day moving average is $191.81 and its 200 day moving average is $163.01. IES Holdings, Inc. has a 52 week low of $60.32 and a 52 week high of $234.81. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 32.80 and a beta of 1.38.

IES (NASDAQ:IESC) last issued its earnings results on Friday, August 2nd. The technology company reported $2.67 earnings per share for the quarter. The business had revenue of $768.40 million during the quarter. IES had a return on equity of 34.38% and a net margin of 6.30%.

IES announced that its Board of Directors has approved a share buyback program on Friday, August 2nd that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 5.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Todd M. Cleveland sold 10,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Todd M. Cleveland sold 10,000 shares of IES stock in a transaction dated Wednesday, September 11th. The shares were 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 in the company, valued at $16,071,714.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $160.61, for a total transaction of $8,152,242.38. Following the completion of the transaction, the chief executive officer now directly owns 11,134,087 shares in the company, valued at approximately $1,788,245,713.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 160,966 shares of company stock valued at $26,003,099 over the last ninety days. 59.19% of the stock is owned by corporate 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.