Quest Partners LLC Boosts Holdings in IES Holdings, Inc. (NASDAQ:IESC)

Quest Partners LLC boosted its stake in IES Holdings, Inc. (NASDAQ:IESC) by 159.5% in the third quarter, Holdings Channel.com reports. The firm owned 768 shares of the technology company’s stock after acquiring an additional 472 shares during the quarter. Quest Partners LLC’s holdings in IES were worth $153,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in IESC. Andina Capital Management LLC raised its holdings in shares of IES by 4.0% in the 3rd quarter. Andina Capital Management LLC now owns 2,496 shares of the technology company’s stock worth $498,000 after purchasing an additional 96 shares during the period. CWM LLC boosted its holdings in IES by 17.2% in the 3rd quarter. CWM LLC now owns 682 shares of the technology company’s stock worth $136,000 after acquiring an additional 100 shares during the period. Ellsworth Advisors LLC lifted its position in shares of IES by 2.7% during the second quarter. Ellsworth Advisors LLC now owns 5,806 shares of the technology company’s stock worth $809,000 after purchasing an additional 151 shares in the last quarter. Cetera Investment Advisers increased its stake in IES by 2.2% during the 2nd quarter. Cetera Investment Advisers now owns 8,690 shares of the technology company’s stock worth $1,211,000 after buying an additional 190 shares during the period. Finally, 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 last quarter. Institutional investors and hedge funds own 86.60% of the company’s stock.

IES Price Performance

Shares of IESC stock opened at $286.95 on Friday. The firm has a market cap of $5.73 billion, a P/E ratio of 29.01 and a beta of 1.37. The firm has a fifty day moving average of $231.87 and a two-hundred day moving average of $180.85. IES Holdings, Inc. has a 1-year low of $68.78 and a 1-year high of $318.99.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, 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 transaction of $5,982,989.40. Following the completion of the sale, the chief executive officer now owns 10,934,845 shares of the company’s stock, valued at $1,751,762,169. This represents a 0.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Todd M. Cleveland sold 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 104,654 shares of the company’s stock, valued at $16,071,714.78. This trade represents a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,208 shares of company stock worth $15,094,607. Corporate insiders own 59.19% of the company’s stock.

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.