Covestor Ltd Raises Stake in IES Holdings, Inc. (NASDAQ:IESC)

Covestor Ltd increased its holdings in shares of IES Holdings, Inc. (NASDAQ:IESC) by 10,290.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,143 shares of the technology company’s stock after acquiring an additional 1,132 shares during the period. Covestor Ltd’s holdings in IES were worth $228,000 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 the business. Hennessy Advisors Inc. purchased a new position in IES during the second quarter valued at $9,558,000. F M Investments LLC bought a new position in shares of IES during the third quarter valued at $10,887,000. Apis Capital Advisors LLC purchased a new position in shares of IES in the 2nd quarter worth about $6,409,000. Vanguard Group Inc. boosted its stake in IES by 10.0% in the 1st 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 in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in IES during the 2nd quarter valued at about $3,328,000. Institutional investors own 86.60% of the company’s stock.

Insider Activity

In other news, CFO Tracy Mclauchlin sold 5,000 shares of IES stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $176.73, for a total value of $883,650.00. Following the completion of the sale, the chief financial officer now directly owns 64,377 shares in the company, valued at $11,377,347.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other IES news, CFO Tracy Mclauchlin sold 5,000 shares of IES stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $176.73, for a total value of $883,650.00. Following the completion of the sale, the chief financial officer now owns 64,377 shares of the company’s stock, valued at approximately $11,377,347.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 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 in the company, valued at $16,071,714.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,208 shares of company stock valued at $17,850,857 over the last ninety days. 59.19% of the stock is currently owned by corporate insiders.

IES Stock Up 5.4 %

Shares of NASDAQ IESC opened at $285.55 on Friday. The company has a 50 day moving average of $201.36 and a 200 day moving average of $169.46. IES Holdings, Inc. has a twelve month low of $60.33 and a twelve month high of $285.56. The firm has a market cap of $5.70 billion, a P/E ratio of 33.63 and a beta of 1.37.

IES announced that its board has approved a stock buyback plan on Friday, August 2nd that allows the company to buyback $200.00 million in shares. This buyback authorization allows the technology company to buy up to 5.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

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.