Connor Clark & Lunn Investment Management Ltd. Acquires 1,557 Shares of IES Holdings, Inc. (NASDAQ:IESC)

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of IES Holdings, Inc. (NASDAQ:IESC) by 17.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,556 shares of the technology company’s stock after buying an additional 1,557 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.05% of IES worth $2,107,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Federated Hermes Inc. raised its stake in IES by 258.7% during 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. Quest Partners LLC lifted its holdings in IES by 41.0% in the 2nd quarter. Quest Partners LLC now owns 296 shares of the technology company’s stock worth $41,000 after purchasing an additional 86 shares in the last quarter. Gladius Capital Management LP purchased a new position in shares of IES in the third quarter worth $44,000. Contravisory Investment Management Inc. purchased a new stake in IES in the 2nd quarter worth $48,000. Finally, CWM LLC boosted its stake in IES by 252.7% during the second quarter. CWM LLC now owns 582 shares of the technology company’s stock valued at $81,000 after buying an additional 417 shares during the last quarter. Hedge funds and other institutional investors own 86.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

IES Price Performance

Shares of IESC stock opened at $279.68 on Tuesday. IES Holdings, Inc. has a one year low of $68.78 and a one year high of $297.07. The company has a market capitalization of $5.59 billion, a P/E ratio of 28.28 and a beta of 1.37. The company’s 50-day simple moving average is $226.74 and its two-hundred day simple moving average is $179.27.

IES announced that its Board of Directors has approved a stock repurchase program on Friday, August 2nd that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Todd M. Cleveland sold 10,000 shares of the company’s 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 sale, the director now directly owns 104,654 shares of the company’s stock, valued at $16,071,714.78. This represents a 8.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the 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 $1,751,762,169. This represents a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 105,208 shares of company stock worth $16,967,207 over the last 90 days. Company 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.