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

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

IES Trading Up 2.6 %

NASDAQ IESC opened at $264.67 on Tuesday. IES has a 52 week low of $65.43 and a 52 week high of $297.07. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 31.17 and a beta of 1.37. The company has a 50-day moving average price of $214.83 and a two-hundred day moving average price of $175.58.

IES declared that its board has approved a stock repurchase program on Friday, August 2nd that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity at IES

In other IES news, CEO Jeffrey L. Et Al Gendell sold 47,861 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $158.29, for a total value of $7,575,917.69. Following the completion of the transaction, the chief executive officer now owns 11,036,984 shares in the company, valued at approximately $1,747,044,197.36. This represents a 0.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Todd M. Cleveland sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $153.57, for a total transaction of $1,535,700.00. Following the completion of the transaction, the director now owns 104,654 shares of the company’s stock, valued at approximately $16,071,714.78. This trade represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 105,208 shares of company stock valued at $16,967,207 in the last quarter. Insiders own 59.19% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its holdings in shares of IES by 4.6% in the third quarter. FMR LLC now owns 1,476,238 shares of the technology company’s stock valued at $294,687,000 after acquiring an additional 65,145 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of IES by 10.0% in the first quarter. Vanguard Group Inc. now owns 479,315 shares of the technology company’s stock valued at $58,304,000 after acquiring an additional 43,634 shares in the last quarter. Royce & Associates LP boosted its holdings in shares of IES by 15.1% in the third quarter. Royce & Associates LP now owns 294,808 shares of the technology company’s stock valued at $58,850,000 after acquiring an additional 38,783 shares in the last quarter. State Street Corp boosted its holdings in shares of IES by 3.2% in the third quarter. State Street Corp now owns 209,943 shares of the technology company’s stock valued at $41,909,000 after acquiring an additional 6,492 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of IES by 0.3% in the third quarter. Geode Capital Management LLC now owns 209,146 shares of the technology company’s stock valued at $41,757,000 after acquiring an additional 623 shares in the last quarter. 86.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of IES from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th.

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.