IES Holdings, Inc. (NASDAQ:IESC) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in IES Holdings, Inc. (NASDAQ:IESC) by 17.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 10,556 shares of the technology company’s stock after purchasing an additional 1,557 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in IES were worth $2,107,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IESC. Hennessy Advisors Inc. purchased a new stake in IES during the 2nd quarter worth approximately $9,558,000. F M Investments LLC acquired a new position in shares of IES in the 3rd quarter valued at $10,887,000. Thrivent Financial for Lutherans purchased a new stake in shares of IES in the third quarter valued at about $10,426,000. Apis Capital Advisors LLC purchased a new stake in IES during the 2nd quarter valued at approximately $6,409,000. Finally, Vanguard Group Inc. raised its stake in shares of 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. 86.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

IES Price Performance

Shares of NASDAQ IESC opened at $279.68 on Tuesday. The firm’s 50-day moving average is $226.74 and its two-hundred day moving average is $179.27. The company has a market capitalization of $5.59 billion, a PE ratio of 28.28 and a beta of 1.37. IES Holdings, Inc. has a 12-month low of $68.78 and a 12-month high of $297.07.

IES announced that its board has authorized a share buyback program on Friday, August 2nd that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Todd M. Cleveland sold 10,000 shares of IES stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $153.57, for a total transaction of $1,535,700.00. Following the sale, the director now owns 104,654 shares in the company, valued at $16,071,714.78. This trade represents a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of IES stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $160.20, for a total value of $5,982,989.40. Following the sale, the chief executive officer now directly owns 10,934,845 shares in the company, valued at approximately $1,751,762,169. The trade was a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 105,208 shares of company stock valued at $16,967,207. Company insiders own 59.19% of the company’s stock.

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.