GSA Capital Partners LLP Purchases 1,929 Shares of IES Holdings, Inc. (NASDAQ:IESC)

GSA Capital Partners LLP grew its position in IES Holdings, Inc. (NASDAQ:IESC) by 75.0% in the third quarter, Holdings Channel.com reports. The fund owned 4,501 shares of the technology company’s stock after buying an additional 1,929 shares during the period. GSA Capital Partners LLP’s holdings in IES were worth $898,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. raised its stake in shares of 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 stake in shares of 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 buying an additional 86 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in shares of IES during the 2nd quarter worth about $48,000. CWM LLC boosted its position in shares of IES by 252.7% during the 2nd quarter. CWM LLC now owns 582 shares of the technology company’s stock valued at $81,000 after acquiring an additional 417 shares in the last quarter. Finally, EntryPoint Capital LLC increased its stake in IES by 217.0% in the first quarter. EntryPoint Capital LLC now owns 1,065 shares of the technology company’s stock valued at $130,000 after acquiring an additional 729 shares during the period. Institutional investors and hedge funds own 86.60% of the company’s stock.

Insider Buying and Selling at IES

In related news, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $158.29, for a total transaction of $7,575,917.69. Following the sale, the chief executive officer now directly owns 11,036,984 shares in the company, valued at $1,747,044,197.36. This represents a 0.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Todd M. Cleveland sold 10,000 shares of IES stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $153.57, for a total value of $1,535,700.00. Following the completion of the transaction, the director now owns 104,654 shares of the company’s stock, valued at approximately $16,071,714.78. The trade was a 8.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 105,208 shares of company stock valued at $16,967,207. 59.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

IES Price Performance

Shares of IESC stock opened at $258.02 on Friday. The stock’s fifty day simple moving average is $212.43 and its 200 day simple moving average is $174.38. 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 price-to-earnings ratio of 30.39 and a beta of 1.37.

IES announced that its board has authorized a stock repurchase plan on Friday, August 2nd that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the technology company to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

About IES

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.