IES (NASDAQ:IESC) Stock Price Down 11.6% – Here’s Why

IES Holdings, Inc. (NASDAQ:IESC) shares fell 11.6% during trading on Wednesday. The stock traded as low as $180.90 and last traded at $179.8460. 145,601 shares traded hands during trading, a decline of 65% from the average session volume of 418,428 shares. The stock had previously closed at $203.38.

Analyst Ratings Changes

IESC has been the topic of several analyst reports. Weiss Ratings downgraded IES from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. Freedom Broker raised IES from a “hold” rating to a “buy” rating and set a $440.00 target price on the stock in a report on Friday, September 11th. Finally, Wall Street Zen upgraded IES from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 20th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $334.50.

IES Stock Up 8.6%

The stock has a market capitalization of $6.30 billion, a PE ratio of 14.03 and a beta of 1.86. The firm’s fifty day moving average is $285.47 and its 200-day moving average is $293.63.

Institutional Investors Weigh In On IES

Institutional investors have recently made changes to their positions in the stock. Optiver Holding B.V. increased its holdings in shares of IES by 62.5% during the 1st quarter. Optiver Holding B.V. now owns 52 shares of the technology company’s stock worth $25,000 after buying an additional 20 shares during the last quarter. Allworth Financial LP purchased a new position in shares of IES in the 2nd quarter worth $25,000. Toth Financial Advisory Corp raised its position in shares of IES by 73.9% in the 2nd quarter. Toth Financial Advisory Corp now owns 40 shares of the technology company’s stock worth $29,000 after buying an additional 17 shares during the period. Parallel Advisors LLC boosted its holdings in IES by 121.4% in the first quarter. Parallel Advisors LLC now owns 62 shares of the technology company’s stock valued at $30,000 after acquiring an additional 34 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in IES in the second quarter valued at $40,000. 86.60% of the stock is currently owned by hedge funds and other institutional investors.

IES Company Profile

IES Holdings, Inc (NASDAQ: IESC) is a diversified industrial services company that designs, installs and maintains electrical and mechanical systems and related infrastructure. Through its operating businesses, the company serves customers in the data center, communications, residential, commercial, industrial and infrastructure markets.

Its services include electrical contracting, power distribution and control systems, communications infrastructure, structured cabling, automation and controls, and the installation of mechanical and other building systems.