Algert Global LLC Sells 6,585 Shares of IES Holdings, Inc. (NASDAQ:IESC)

Algert Global LLC trimmed its position in IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 19.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,318 shares of the technology company's stock after selling 6,585 shares during the period. Algert Global LLC owned approximately 0.14% of IES worth $5,453,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in IES by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 76,739 shares of the technology company's stock valued at $15,319,000 after acquiring an additional 1,158 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of IES in the 3rd quarter worth approximately $608,000. Moran Wealth Management LLC lifted its stake in IES by 30.8% during the third quarter. Moran Wealth Management LLC now owns 3,340 shares of the technology company's stock valued at $667,000 after purchasing an additional 787 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in IES by 17.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,556 shares of the technology company's stock worth $2,107,000 after buying an additional 1,557 shares in the last quarter. Finally, Quest Partners LLC grew its position in IES by 159.5% in the third quarter. Quest Partners LLC now owns 768 shares of the technology company's stock worth $153,000 after buying an additional 472 shares during the last quarter. 86.60% of the stock is owned by institutional investors.

IES Stock Up 0.6 %

Shares of NASDAQ IESC traded up $1.67 during mid-day trading on Monday, hitting $279.68. 173,690 shares of the company traded hands, compared to its average volume of 134,227. IES Holdings, Inc. has a 1 year low of $68.78 and a 1 year high of $297.07. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 28.28 and a beta of 1.37. The business has a 50 day moving average of $226.74 and a two-hundred day moving average of $179.27.

IES announced that its Board of Directors has initiated a share repurchase plan on Friday, August 2nd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the technology company to buy up to 5.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of the company's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $158.29, for a total transaction of $7,575,917.69. Following the transaction, the chief executive officer now directly owns 11,036,984 shares of the company's stock, valued at approximately $1,747,044,197.36. The trade was a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David B. Gendell sold 10,000 shares of the firm's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $187.26, for a total value of $1,872,600.00. Following the sale, the director now 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 quarter, insiders have sold 105,208 shares of company stock worth $16,967,207. Company insiders own 59.19% of the company's stock.

Analyst Ratings Changes

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

IES Company 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.