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


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IES Holdings, Inc. (NASDAQ:IESC) was the recipient of a large drop in short interest in April. As of April 15th, there was short interest totalling 115,400 shares, a drop of 23.8% from the March 31st total of 151,500 shares. Approximately 0.6% of the shares of the stock are short sold. Based on an average daily volume of 53,400 shares, the days-to-cover ratio is currently 2.2 days.

Shares of IESC traded down $1.95 during trading hours on Tuesday, hitting $52.09. 44,233 shares of the company were exchanged, compared to its average volume of 53,265. The company has a market capitalization of $1.08 billion, a PE ratio of 27.86 and a beta of 1.31. The firm has a fifty day simple moving average of $50.21 and a 200-day simple moving average of $45.31. IES has a one year low of $19.30 and a one year high of $55.30.

IES (NASDAQ:IESC) last released its quarterly earnings data on Friday, February 5th. The technology company reported $0.71 earnings per share for the quarter. The business had revenue of $314.80 million during the quarter. IES had a return on equity of 20.36% and a net margin of 3.49%.

In other IES news, Director Todd M. Cleveland sold 3,579 shares of the stock in a transaction on Monday, March 8th. The stock was sold at an average price of $52.94, for a total transaction of $189,472.26. Following the completion of the transaction, the director now directly owns 172,037 shares of the company’s stock, valued at approximately $9,107,638.78. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Todd M. Cleveland sold 8,900 shares of the stock in a transaction on Wednesday, March 10th. The shares were sold at an average price of $52.00, for a total value of $462,800.00. Following the transaction, the director now directly owns 172,037 shares of the company’s stock, valued at $8,945,924. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,316 shares of company stock valued at $802,435. 61.76% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. purchased a new stake in shares of IES in the first quarter valued at $2,739,000. Dorsey Wright & Associates lifted its holdings in shares of IES by 135.3% in the first quarter. Dorsey Wright & Associates now owns 981 shares of the technology company’s stock valued at $49,000 after purchasing an additional 564 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of IES by 10.5% in the first quarter. Janney Montgomery Scott LLC now owns 9,613 shares of the technology company’s stock valued at $485,000 after purchasing an additional 911 shares in the last quarter. Strs Ohio raised its holdings in shares of IES by 13.9% during the first quarter. Strs Ohio now owns 17,200 shares of the technology company’s stock worth $867,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of IES during the first quarter worth $521,000. Institutional investors own 80.89% of the company’s stock.

About IES

IES Holdings, Inc designs and installs integrated electrical and technology systems, and provides infrastructure products and services in the United States. Its Commercial & Industrial segment offers electrical and mechanical design, construction, and maintenance services for office buildings, manufacturing facilities, data centers, chemical plants, refineries, wind farms, solar facilities, municipal infrastructures, and health care facilities.

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