IES Holdings, Inc. (NASDAQ:IESC) Short Interest Up 8.9% in June

IES Holdings, Inc. (NASDAQ:IESC) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 497,200 shares, a growth of 8.9% from the June 15th total of 456,500 shares. Based on an average daily volume of 157,000 shares, the short-interest ratio is currently 3.2 days. Approximately 2.5% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of IES from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 30th.

IES Trading Down 1.8 %

IES stock traded down $2.59 during mid-day trading on Thursday, reaching $143.85. The company’s stock had a trading volume of 43,482 shares, compared to its average volume of 127,586. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 22.17 and a beta of 1.36. The business has a 50 day moving average price of $146.97 and a 200-day moving average price of $120.83. IES has a twelve month low of $55.60 and a twelve month high of $184.38.

IES (NASDAQ:IESC) last released its quarterly earnings data on Friday, May 3rd. The technology company reported $2.29 EPS for the quarter. The firm had revenue of $705.80 million during the quarter. IES had a net margin of 5.27% and a return on equity of 30.22%.

Insider Activity

In other news, CEO Jeffrey L. Et Al Gendell sold 44,449 shares of IES stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $130.03, for a total transaction of $5,779,703.47. Following the sale, the chief executive officer now owns 11,233,970 shares in the company, valued at $1,460,753,119.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Matthew J. Simmes sold 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $170.52, for a total transaction of $2,387,280.00. Following the completion of the sale, the chief operating officer now owns 73,110 shares of the company’s stock, valued at $12,466,717.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey L. Et Al Gendell sold 44,449 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $130.03, for a total transaction of $5,779,703.47. Following the sale, the chief executive officer now directly owns 11,233,970 shares of the company’s stock, valued at approximately $1,460,753,119.10. The disclosure for this sale can be found here. Insiders have sold 133,757 shares of company stock worth $18,360,416 over the last 90 days. Company insiders own 59.19% of the company’s stock.

Hedge Funds Weigh In On IES

Hedge funds have recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. bought a new stake in IES in the second quarter valued at $48,000. Sunbelt Securities Inc. bought a new stake in IES in the first quarter valued at $48,000. CWM LLC lifted its stake in IES by 252.7% in the second quarter. CWM LLC now owns 582 shares of the technology company’s stock valued at $81,000 after buying an additional 417 shares during the last quarter. EntryPoint Capital LLC lifted its stake in IES by 217.0% in the first quarter. EntryPoint Capital LLC now owns 1,065 shares of the technology company’s stock valued at $130,000 after buying an additional 729 shares during the last quarter. Finally, Edmonds Duncan Registered Investment Advisors LLC bought a new stake in shares of IES during the second quarter valued at about $216,000. Institutional investors and hedge funds own 86.60% of the company’s stock.

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.