IES Holdings, Inc. (NASDAQ:IESC) Shares Bought by Truvestments Capital LLC

Truvestments Capital LLC grew its stake in shares of IES Holdings, Inc. (NASDAQ:IESC) by 9.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,286 shares of the technology company’s stock after acquiring an additional 441 shares during the period. 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 and hedge funds have also made changes to their positions in IESC. Vanguard Group Inc. raised its holdings in IES by 10.0% during the first quarter. Vanguard Group Inc. now owns 479,315 shares of the technology company’s stock worth $58,304,000 after purchasing an additional 43,634 shares during the last quarter. Royce & Associates LP boosted its position in shares of IES by 15.1% in the 3rd quarter. Royce & Associates LP now owns 294,808 shares of the technology company’s stock worth $58,850,000 after buying an additional 38,783 shares in the last quarter. Renaissance Technologies LLC grew its stake in IES by 2.8% in the 2nd quarter. Renaissance Technologies LLC now owns 186,532 shares of the technology company’s stock valued at $25,990,000 after acquiring an additional 5,100 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings 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 acquiring an additional 9,942 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in IES by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 76,739 shares of the technology company’s stock worth $15,319,000 after acquiring an additional 1,158 shares during the last quarter. 86.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other IES news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of IES stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 10,934,845 shares of the company’s stock, valued at approximately $1,751,762,169. The trade was a 0.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Todd M. Cleveland sold 10,000 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $153.57, for a total value of $1,535,700.00. Following the transaction, the director now directly owns 104,654 shares in the company, valued at approximately $16,071,714.78. This represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 105,208 shares of company stock worth $16,967,207 over the last three months. 59.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

IES Stock Performance

Shares of NASDAQ:IESC opened at $283.76 on Monday. The business’s fifty day moving average price is $224.35 and its two-hundred day moving average price is $178.56. The stock 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 one year low of $68.78 and a one year high of $297.07.

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

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.