IES Holdings, Inc. (NASDAQ:IESC) Short Interest Update

IES Holdings, Inc. (NASDAQ:IESC) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 645,000 shares, a drop of 7.7% from the October 15th total of 698,500 shares. Based on an average trading volume of 127,900 shares, the short-interest ratio is currently 5.0 days. Approximately 3.3% of the company’s stock are short sold.

Wall Street Analyst Weigh In

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

Insider Transactions at IES

In other news, 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 transaction of $1,872,600.00. Following the sale, the director now owns 127,976 shares of the company’s stock, valued at approximately $23,964,785.76. This trade represents a 7.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey L. Et Al Gendell sold 37,347 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $160.20, for a total value of $5,982,989.40. Following the sale, the chief executive officer now directly owns 10,934,845 shares in the company, valued at $1,751,762,169. This trade represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 105,208 shares of company stock valued at $16,967,207. Corporate insiders own 59.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Summit Partners Public Asset Management LLC grew its stake in shares of IES by 165.4% in the 3rd quarter. Summit Partners Public Asset Management LLC now owns 119,438 shares of the technology company’s stock valued at $23,842,000 after purchasing an additional 74,438 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of IES in the 2nd quarter valued at approximately $9,558,000. FMR LLC grew its stake in shares of IES by 4.6% in the 3rd quarter. FMR LLC now owns 1,476,238 shares of the technology company’s stock valued at $294,687,000 after purchasing an additional 65,145 shares during the last quarter. F M Investments LLC purchased a new position in shares of IES in the 3rd quarter valued at approximately $10,887,000. Finally, Thrivent Financial for Lutherans purchased a new position in shares of IES in the 3rd quarter valued at approximately $10,426,000. Hedge funds and other institutional investors own 86.60% of the company’s stock.

IES Stock Up 7.9 %

NASDAQ:IESC opened at $285.51 on Wednesday. The stock’s 50 day moving average price is $217.57 and its 200 day moving average price is $176.45. The company has a market capitalization of $5.70 billion, a PE ratio of 33.63 and a beta of 1.37. IES has a 52-week low of $65.43 and a 52-week high of $297.07.

IES declared that its board has initiated a share repurchase program on Friday, August 2nd that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 5.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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.