IES (NASDAQ:IESC) Stock Falls 6.6% – Here’s Why

IES Holdings, Inc. (NASDAQ:IESC)’s stock price fell 6.6% during mid-day trading on Wednesday. The stock traded as low as $324.00 and last traded at $319.18. 8,123 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 413,107 shares. The stock had previously closed at $341.85.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on IESC shares. Wall Street Zen raised shares of IES from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 20th. Weiss Ratings upgraded shares of IES from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, September 21st. Finally, Freedom Broker upgraded shares of IES from a “hold” rating to a “buy” rating and set a $440.00 price objective for the company in a report on Friday, September 11th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $334.50.

IES Stock Down 2.7%

The firm has a market capitalization of $11.97 billion, a price-to-earnings ratio of 26.69 and a beta of 1.77. The firm’s 50 day moving average is $337.52 and its 200 day moving average is $321.32.

IES (NASDAQ:IESC) last posted its quarterly earnings results on Friday, July 31st. The technology company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.93. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.08 billion. IES had a net margin of 11.40% and a return on equity of 35.70%.

Institutional Trading of IES

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Toth Financial Advisory Corp raised its holdings in shares of IES by 73.9% during the second quarter. Toth Financial Advisory Corp now owns 40 shares of the technology company’s stock worth $29,000 after acquiring an additional 17 shares in the last quarter. Optiver Holding B.V. boosted its position in IES by 62.5% during the first quarter. Optiver Holding B.V. now owns 52 shares of the technology company’s stock valued at $25,000 after purchasing an additional 20 shares during the last quarter. Parallel Advisors LLC grew its stake 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 purchasing an additional 34 shares in the last quarter. Allworth Financial LP acquired a new position in IES in the 2nd quarter worth about $25,000. Finally, KPP Advisory Services LLC increased its position in IES by 5.3% in the 1st quarter. KPP Advisory Services LLC now owns 699 shares of the technology company’s stock worth $333,000 after purchasing an additional 35 shares during the last quarter. Institutional investors and hedge funds own 86.60% of the company’s stock.

About IES

IES Holdings, Inc (NASDAQ: IESC) is a diversified provider of electrical and technology systems, infrastructure solutions, and related services. The company designs, installs, and maintains electrical, mechanical, plumbing, and HVAC systems for data centers, commercial and industrial facilities, residential developments, and other specialized applications.

IES Holdings operates through several business areas, including Communications, Residential, Infrastructure Solutions, and Commercial & Industrial.