IES Holdings, Inc. $IESC Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC has reduced its stake in IES Holdings, Inc. by 66.2%, owning now 9,824 shares valued at approximately $1.62 million.
• The company reported a Q2 EPS of $3.95, exceeding analysts’ expectations of $3.55, along with a revenue of $890.20 million also higher than estimates.
• IES Holdings' stock received a rating upgrade from "buy" to "strong-buy" by Wall Street Zen, indicating increased analyst confidence.

Algert Global LLC trimmed its position in IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 66.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,824 shares of the technology company's stock after selling 19,252 shares during the period. Algert Global LLC's holdings in IES were worth $1,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. increased its position in shares of IES by 1.8% in the 1st quarter. American Century Companies Inc. now owns 53,699 shares of the technology company's stock valued at $8,866,000 after acquiring an additional 966 shares during the period. Lord Abbett & CO. LLC purchased a new stake in IES in the first quarter valued at $16,853,000. Boston Partners boosted its holdings in IES by 3.0% in the first quarter. Boston Partners now owns 2,870 shares of the technology company's stock valued at $474,000 after purchasing an additional 84 shares during the last quarter. HighTower Advisors LLC boosted its holdings in IES by 31.8% in the first quarter. HighTower Advisors LLC now owns 2,085 shares of the technology company's stock valued at $344,000 after purchasing an additional 503 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in IES in the first quarter valued at $5,193,000. 86.60% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Chairman Jeffrey L. Et Al Gendell sold 1,710 shares of IES stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $355.45, for a total value of $607,819.50. Following the completion of the sale, the chairman owned 10,913,844 shares in the company, valued at approximately $3,879,325,849.80. This trade represents a 0.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 41,340 shares of company stock valued at $11,522,915. 56.76% of the stock is currently owned by company insiders.

IES Price Performance

IES stock traded down $2.55 during midday trading on Wednesday, reaching $355.84. The company had a trading volume of 135,630 shares, compared to its average volume of 130,611. The company has a market capitalization of $7.06 billion, a P/E ratio of 27.18 and a beta of 1.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.85 and a quick ratio of 1.65. IES Holdings, Inc. has a 12-month low of $140.89 and a 12-month high of $370.88. The firm's fifty day simple moving average is $321.37 and its 200-day simple moving average is $249.77.

IES (NASDAQ:IESC - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The technology company reported $3.95 EPS for the quarter, beating the consensus estimate of $3.55 by $0.40. IES had a net margin of 8.15% and a return on equity of 37.23%. The firm had revenue of $890.20 million for the quarter, compared to analyst estimates of $833.00 million.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of IES from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 16th.

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.