Algert Global LLC Has $4.72 Million Stake in IES Holdings, Inc. (NASDAQ:IESC)

Algert Global LLC raised its position in shares of IES Holdings, Inc. (NASDAQ:IESC) by 6.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,903 shares of the technology company’s stock after purchasing an additional 2,013 shares during the quarter. Algert Global LLC owned 0.17% of IES worth $4,724,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Federated Hermes Inc. grew its holdings in shares of IES by 258.7% during the second quarter. Federated Hermes Inc. now owns 269 shares of the technology company’s stock valued at $37,000 after buying an additional 194 shares in the last quarter. Quest Partners LLC increased its holdings in shares of IES by 41.0% in the 2nd quarter. Quest Partners LLC now owns 296 shares of the technology company’s stock valued at $41,000 after purchasing an additional 86 shares during the period. Sunbelt Securities Inc. purchased a new stake in shares of IES in the first quarter worth approximately $48,000. Contravisory Investment Management Inc. acquired a new stake in shares of IES during the second quarter worth approximately $48,000. Finally, CWM LLC grew its position 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 purchasing an additional 417 shares in the last quarter. Hedge funds and other institutional investors own 86.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of IES from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th.

Insider Activity

In other IES news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 10,934,845 shares of the company’s stock, valued at $1,751,762,169. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of IES stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $160.61, for a total value of $8,152,242.38. Following the transaction, the chief executive officer now owns 11,134,087 shares of the company’s stock, valued at $1,788,245,713.07. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $160.20, for a total transaction of $5,982,989.40. Following the sale, the chief executive officer now directly owns 10,934,845 shares of the company’s stock, valued at $1,751,762,169. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 160,966 shares of company stock worth $26,003,099. 59.19% of the stock is owned by corporate insiders.

IES Price Performance

Shares of NASDAQ IESC opened at $199.70 on Monday. IES Holdings, Inc. has a one year low of $59.75 and a one year high of $207.05. The business’s 50-day moving average price is $166.28 and its two-hundred day moving average price is $147.91. The company has a market capitalization of $4.04 billion, a P/E ratio of 30.12 and a beta of 1.38.

IES (NASDAQ:IESC) last released its quarterly earnings data on Friday, August 2nd. The technology company reported $2.67 EPS for the quarter. The firm had revenue of $768.40 million for the quarter. IES had a return on equity of 34.38% and a net margin of 6.30%.

IES announced that its board has initiated a share buyback plan on Friday, August 2nd that permits the company to buyback $200.00 million in shares. This buyback authorization permits the technology company to purchase up to 5.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are 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.