Short Interest in IES Holdings, Inc. (NASDAQ:IESC) Drops By 9.7%

by · The Markets Daily

IES Holdings, Inc. (NASDAQ:IESC – Get Free Report) was the recipient of a significant decline in short interest in September. As of September 30th, there was short interest totalling 707,600 shares, a decline of 9.7% from the September 15th total of 783,600 shares. Currently, 3.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 150,400 shares, the short-interest ratio is currently 4.7 days.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered IES from a “buy” rating to a “hold” rating in a research note on Tuesday.

Read Our Latest Stock Analysis on IES

IES Price Performance

NASDAQ:IESC traded up $5.16 during mid-day trading on Wednesday, reaching $225.10. The company’s stock had a trading volume of 93,794 shares, compared to its average volume of 134,771. The stock has a market cap of $4.56 billion, a P/E ratio of 33.17 and a beta of 1.38. The company’s fifty day simple moving average is $181.05 and its two-hundred day simple moving average is $156.18. IES has a twelve month low of $59.75 and a twelve month high of $234.81.

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

IES declared that its Board of Directors has authorized a share buyback 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 reacquire up to 5.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other IES news, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $160.61, for a total transaction of $8,152,242.38. Following the sale, the chief executive officer now directly owns 11,134,087 shares in the company, valued at approximately $1,788,245,713.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director David B. Gendell sold 10,000 shares of IES stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $187.26, for a total transaction of $1,872,600.00. Following the completion of the sale, the director now owns 127,976 shares in the company, valued at approximately $23,964,785.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $160.61, for a total transaction of $8,152,242.38. Following the sale, the chief executive officer now directly owns 11,134,087 shares in the company, valued at $1,788,245,713.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 160,966 shares of company stock valued at $26,003,099. Corporate insiders own 59.19% of the company’s stock.

Institutional Trading of IES

Institutional investors have recently modified their holdings of the company. Quest Partners LLC boosted its position in IES by 41.0% during 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 during the period. CWM LLC raised its holdings in shares of IES by 17.2% during the 3rd quarter. CWM LLC now owns 682 shares of the technology company’s stock valued at $136,000 after buying an additional 100 shares during the period. Ellsworth Advisors LLC lifted its position in IES by 2.7% during the 2nd quarter. Ellsworth Advisors LLC now owns 5,806 shares of the technology company’s stock worth $809,000 after acquiring an additional 151 shares in the last quarter. Cetera Investment Advisers boosted its holdings in IES by 2.2% in the 2nd quarter. Cetera Investment Advisers now owns 8,690 shares of the technology company’s stock worth $1,211,000 after acquiring an additional 190 shares during the period. Finally, Federated Hermes Inc. grew its position in IES by 258.7% in the second quarter. Federated Hermes Inc. now owns 269 shares of the technology company’s stock valued at $37,000 after acquiring an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 86.60% of the company’s stock.

About IES

(Get Free Report)

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.

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