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

IES Holdings, Inc. (NASDAQ:IESC) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 707,600 shares, a drop of 9.7% from the September 15th total of 783,600 shares. Approximately 3.7% of the company’s shares are sold short. Based on an average 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 report on Tuesday.

Insider Buying and Selling

In other IES news, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the stock in a transaction that occurred 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 owns 10,934,845 shares of the company’s stock, valued at $1,751,762,169. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other IES news, Director David B. Gendell sold 10,000 shares of IES stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $187.26, for a total transaction of $1,872,600.00. Following the transaction, the director now directly owns 127,976 shares of the company’s stock, valued at $23,964,785.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 10,934,845 shares in the company, valued at approximately $1,751,762,169. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 160,966 shares of company stock valued at $26,003,099. Insiders own 59.19% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. boosted its position in shares of IES by 258.7% during the second quarter. Federated Hermes Inc. now owns 269 shares of the technology company’s stock worth $37,000 after buying an additional 194 shares during the period. Quest Partners LLC raised its stake in shares of IES by 41.0% in the 2nd quarter. Quest Partners LLC now owns 296 shares of the technology company’s stock worth $41,000 after buying an additional 86 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of IES in the first quarter valued at $48,000. Contravisory Investment Management Inc. bought a new position in IES during the second quarter valued at about $48,000. Finally, CWM LLC raised its holdings in shares of IES by 252.7% in the 2nd quarter. CWM LLC now owns 582 shares of the technology company’s stock worth $81,000 after purchasing an additional 417 shares in the last quarter. Institutional investors and hedge funds own 86.60% of the company’s stock.

IES Trading Up 2.3 %

NASDAQ:IESC traded up $5.16 during trading hours on Wednesday, hitting $225.10. The stock had a trading volume of 93,794 shares, compared to its average volume of 134,771. The company has a market cap of $4.56 billion, a PE ratio of 33.17 and a beta of 1.38. The business has a 50 day simple moving average of $181.05 and a two-hundred day simple moving average of $156.18. IES has a 1-year low of $59.75 and a 1-year high of $234.81.

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

IES declared that its board has approved a stock buyback plan on Friday, August 2nd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 5.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management 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.