IES Holdings, Inc. (NASDAQ:IESC) Sees Large Growth in Short Interest

IES Holdings, Inc. (NASDAQ:IESC) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 456,500 shares, a growth of 7.3% from the May 31st total of 425,400 shares. Based on an average daily volume of 160,900 shares, the days-to-cover ratio is currently 2.8 days. Approximately 2.3% of the company’s stock are short sold.

Insiders Place Their Bets

In other IES news, CEO Jeffrey L. Et Al Gendell sold 25,000 shares of IES stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $133.18, for a total value of $3,329,500.00. Following the transaction, the chief executive officer now directly owns 11,184,845 shares of the company’s stock, valued at $1,489,597,657.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other IES news, COO Matthew J. Simmes sold 14,000 shares of IES stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $170.52, for a total value of $2,387,280.00. Following the transaction, the chief operating officer now directly owns 73,110 shares of the company’s stock, valued at $12,466,717.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey L. Et Al Gendell sold 25,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $133.18, for a total transaction of $3,329,500.00. Following the sale, the chief executive officer now directly owns 11,184,845 shares in the company, valued at $1,489,597,657.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,757 shares of company stock valued at $18,360,416. 59.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On IES

Several hedge funds have recently added to or reduced their stakes in the business. Aurora Investment Counsel purchased a new stake in IES in the first quarter valued at $2,584,000. Janus Henderson Group PLC boosted its holdings in IES by 27.4% in the first quarter. Janus Henderson Group PLC now owns 26,609 shares of the technology company’s stock valued at $3,237,000 after purchasing an additional 5,720 shares during the last quarter. Kennedy Capital Management LLC boosted its holdings in IES by 11.4% in the first quarter. Kennedy Capital Management LLC now owns 75,963 shares of the technology company’s stock valued at $9,240,000 after purchasing an additional 7,800 shares during the last quarter. First Sabrepoint Capital Management LP purchased a new stake in IES in the first quarter valued at $1,825,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of IES in the first quarter worth about $286,000. 86.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of IES from a “strong-buy” rating to a “buy” rating in a report on Sunday.

IES Stock Up 6.3 %

Shares of IESC traded up $8.52 during trading hours on Wednesday, reaching $144.15. 80,733 shares of the company traded hands, compared to its average volume of 127,284. The stock has a market capitalization of $2.92 billion, a P/E ratio of 21.49 and a beta of 1.36. IES has a 12-month low of $53.00 and a 12-month high of $184.38. The business has a fifty day moving average price of $146.50 and a 200-day moving average price of $116.01.

IES (NASDAQ:IESC) last announced its quarterly earnings data on Friday, May 3rd. The technology company reported $2.29 earnings per share for the quarter. IES had a net margin of 5.27% and a return on equity of 30.22%. The firm had revenue of $705.80 million for the quarter.

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.