IES (NASDAQ:IESC) Shares Down 8% – Here’s Why

IES Holdings, Inc. (NASDAQ:IESC)’s stock price dropped 8% during trading on Monday . The company traded as low as $250.00 and last traded at $248.83. Approximately 34,854 shares changed hands during trading, a decline of 83% from the average daily volume of 205,319 shares. The stock had previously closed at $270.42.

Analyst Ratings Changes

Separately, StockNews.com downgraded IES from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

IES Stock Performance

The business has a fifty day moving average of $197.59 and a 200-day moving average of $221.87. The firm has a market capitalization of $5.03 billion, a P/E ratio of 23.58 and a beta of 1.57.

IES (NASDAQ:IESC) last announced its earnings results on Friday, May 2nd. The technology company reported $3.30 EPS for the quarter. The company had revenue of $834.00 million during the quarter. IES had a net margin of 7.30% and a return on equity of 35.81%.

Institutional Trading of IES

A number of institutional investors and hedge funds have recently modified their holdings of the company. J.Safra Asset Management Corp raised its position in IES by 56.8% in the fourth quarter. J.Safra Asset Management Corp now owns 138 shares of the technology company’s stock worth $28,000 after purchasing an additional 50 shares in the last quarter. Smithfield Trust Co acquired a new position in shares of IES in the 4th quarter valued at $34,000. Catalyst Capital Advisors LLC acquired a new position in IES during the first quarter valued at approximately $36,000. National Bank of Canada FI acquired a new stake in shares of IES during the fourth quarter worth about $54,000. Finally, Harbour Investments Inc. acquired a new position in IES in the 4th quarter worth $71,000. 86.60% of the stock is currently owned by institutional investors and hedge funds.

IES Company Profile

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.