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

IES Holdings, Inc. (NASDAQ:IESC) saw a significant decrease in short interest in September. As of September 30th, there was short interest totalling 707,600 shares, a decrease of 9.7% from the September 15th total of 783,600 shares. Based on an average daily volume of 150,400 shares, the days-to-cover ratio is currently 4.7 days. Approximately 3.7% of the shares of the stock are short sold.

Insiders Place Their Bets

In other news, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $160.61, for a total value of $8,152,242.38. Following the completion of the sale, the chief executive officer now directly owns 11,134,087 shares in the company, valued at $1,788,245,713.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Jeffrey L. Et Al Gendell sold 50,758 shares of IES stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $160.61, for a total value of $8,152,242.38. Following the sale, the chief executive officer now owns 11,134,087 shares in the company, valued at $1,788,245,713.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was 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 approximately $1,751,762,169. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 160,966 shares of company stock worth $26,003,099. 59.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IES

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hennessy Advisors Inc. acquired a new position in shares of IES during the 2nd quarter valued at about $9,558,000. Apis Capital Advisors LLC purchased a new position in IES during the second quarter worth about $6,409,000. Vanguard Group Inc. boosted its holdings in IES by 10.0% in the 1st quarter. Vanguard Group Inc. now owns 479,315 shares of the technology company’s stock valued at $58,304,000 after purchasing an additional 43,634 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of IES in the 2nd quarter valued at approximately $3,328,000. Finally, Aurora Investment Counsel acquired a new stake in shares of IES during the 1st quarter worth approximately $2,584,000. Institutional investors and hedge funds own 86.60% of the company’s stock.

IES Stock Up 2.3 %

IES stock opened at $225.10 on Thursday. The company has a fifty day simple moving average of $182.44 and a 200-day simple moving average of $156.67. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 33.95 and a beta of 1.38. IES has a 52-week low of $59.75 and a 52-week high of $234.81.

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

IES declared that its Board of Directors has approved a share buyback program on Friday, August 2nd that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

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.