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

IES Holdings, Inc. (NASDAQ:IESC) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 1,225,405 shares, a growth of 81.2% from the August 15th total of 676,146 shares. Approximately 7.1% of the shares of the stock are sold short. Based on an average daily volume of 263,361 shares, the days-to-cover ratio is currently 4.7 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Parsifal Capital Management LP bought a new stake in IES during the 2nd quarter valued at $35,977,035,000. BlackRock Inc. bought a new stake in IES in the 2nd quarter worth $649,086,000. JB Capital Partners LP purchased a new position in shares of IES in the second quarter valued at about $617,849,000. First Trust Advisors LP increased its position in shares of IES by 40.4% in the first quarter. First Trust Advisors LP now owns 349,163 shares of the technology company’s stock valued at $166,366,000 after acquiring an additional 100,425 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of IES by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 274,725 shares of the technology company’s stock valued at $106,887,000 after acquiring an additional 6,349 shares during the last quarter. Institutional investors own 86.60% of the company’s stock.

IES Trading Up 4.4%

Shares of NASDAQ:IESC traded up $13.61 on Wednesday, reaching $325.02. 227,820 shares of the company traded hands, compared to its average volume of 429,951. The stock has a market capitalization of $12.95 billion, a P/E ratio of 28.88 and a beta of 1.78. The business’s 50-day simple moving average is $242.36 and its 200 day simple moving average is $182.23. IES has a 52 week low of $170.07 and a 52 week high of $408.26.

IES (NASDAQ:IESC) last issued its earnings results on Friday, July 31st. The technology company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.47. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.08 billion. IES had a return on equity of 35.70% and a net margin of 11.40%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on IESC shares. Wall Street Zen downgraded IES from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings cut shares of IES from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, September 1st. Finally, Freedom Broker raised shares of IES from a “hold” rating to a “buy” rating and set a $440.00 price target on the stock in a research note on Friday, September 11th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, IES currently has an average rating of “Moderate Buy” and a consensus target price of $277.25.

IES Company Profile

IES Holdings, Inc (NASDAQ: IESC) is an industrial technology and infrastructure services company that designs, manufactures and installs electrical and mechanical systems. The company serves customers across the data center, industrial, commercial, residential and communications markets.

Its businesses provide electrical contracting, power distribution and control systems, communications infrastructure, structured cabling and related installation services. IES also manufactures and integrates modular and engineered systems used in data centers and other mission-critical facilities, while its residential operations support electrical and other building-system needs for housing construction.

Founded in 1997, IES Holdings serves customers primarily in the United States through operating companies and facilities located across multiple regions.