52,229 Shares in IES Holdings, Inc. (NASDAQ:IESC) Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans purchased a new stake in shares of IES Holdings, Inc. (NASDAQ:IESC) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 52,229 shares of the technology company’s stock, valued at approximately $10,426,000.

Other large investors have also added to or reduced their stakes in the company. Gladius Capital Management LP purchased a new stake in IES in the third quarter valued at $44,000. Royce & Associates LP grew its holdings in shares of IES by 15.1% during the third quarter. Royce & Associates LP now owns 294,808 shares of the technology company’s stock worth $58,850,000 after buying an additional 38,783 shares in the last quarter. Souders Financial Advisors acquired a new stake in shares of IES in the 3rd quarter worth $241,000. GSA Capital Partners LLP increased its holdings in shares of IES by 75.0% during the 3rd quarter. GSA Capital Partners LLP now owns 4,501 shares of the technology company’s stock worth $898,000 after buying an additional 1,929 shares during the last quarter. Finally, Colonial River Investments LLC purchased a new position in shares of IES during the 3rd quarter worth $757,000. Hedge funds and other institutional investors own 86.60% of the company’s stock.

Insider Transactions at IES

In related news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the company’s 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 completion of the sale, the chief executive officer now directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David B. Gendell sold 10,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $187.26, for a total value of $1,872,600.00. Following the completion of the sale, the director now directly owns 127,976 shares of the company’s stock, valued at $23,964,785.76. The trade was a 7.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 105,208 shares of company stock valued at $16,967,207. Corporate insiders own 59.19% of the company’s stock.

Analysts Set New Price Targets

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

IES Price Performance

IES stock opened at $270.47 on Friday. The stock’s fifty day moving average is $222.01 and its two-hundred day moving average is $177.72. The stock has a market cap of $5.40 billion, a PE ratio of 31.86 and a beta of 1.37. IES Holdings, Inc. has a 1-year low of $68.51 and a 1-year high of $297.07.

IES declared that its Board of Directors has initiated a stock repurchase plan on Friday, August 2nd that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board 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.