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

Versor Investments LP lessened its holdings in shares of IES Holdings, Inc. (NASDAQ:IESC) by 71.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,893 shares of the technology company’s stock after selling 4,807 shares during the period. 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 have also recently made changes to their positions in IESC. Colonial River Investments LLC acquired a new stake in IES during the third quarter valued at $757,000. Axxcess Wealth Management LLC acquired a new stake in IES during the third quarter valued at $755,000. Covestor Ltd grew its position in IES by 10,290.9% during the third quarter. Covestor Ltd now owns 1,143 shares of the technology company’s stock valued at $228,000 after buying an additional 1,132 shares during the period. Principal Financial Group Inc. grew its position in IES by 56.9% during the third quarter. Principal Financial Group Inc. now owns 7,269 shares of the technology company’s stock valued at $1,451,000 after buying an additional 2,636 shares during the period. Finally, Asset Management One Co. Ltd. acquired a new stake in IES during the third quarter valued at $3,116,000. Hedge funds and other institutional investors own 86.60% of the company’s stock.

IES Stock Down 0.5 %

Shares of NASDAQ IESC opened at $264.90 on Friday. The company’s 50-day simple moving average is $210.18 and its 200-day simple moving average is $173.26. IES Holdings, Inc. has a 52-week low of $64.50 and a 52-week high of $297.07. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 31.20 and a beta of 1.37.

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

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.

Insider Activity

In other news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the firm’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 transaction, the chief executive officer now directly owns 10,934,845 shares of the company’s stock, valued at approximately $1,751,762,169. This trade represents a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director David B. Gendell sold 10,000 shares of the firm’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 transaction, the director now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 105,208 shares of company stock worth $16,967,207 over the last 90 days. 59.19% of the stock is currently owned by company insiders.

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.