IES (NASDAQ:IESC) Stock Price Down 5.2% – Should You Sell?

IES Holdings, Inc. (NASDAQ:IESC)’s share price dropped 5.2% during trading on Tuesday. The stock traded as low as $309.27 and last traded at $307.3750. Approximately 131,064 shares were traded during trading, a decline of 70% from the average daily volume of 443,101 shares. The stock had previously closed at $324.12.

Wall Street Analyst Weigh In

IESC has been the topic of a number of research analyst reports. Wall Street Zen upgraded 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 note on Monday, September 21st. Finally, Freedom Broker raised 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 research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $334.50.

IES Stock Performance

The firm has a market capitalization of $12.82 billion, a P/E ratio of 28.65 and a beta of 1.78. The firm’s 50-day moving average is $269.02 and its 200 day moving average is $193.65.

IES (NASDAQ:IESC) last posted its quarterly earnings data on Friday, July 31st. The technology company reported $3.35 earnings per share 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 analysts’ expectations of $1.08 billion. IES had a return on equity of 35.70% and a net margin of 11.40%.

Hedge Funds Weigh In On IES

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of IES in the second quarter valued at $649,086,000. Norges Bank acquired a new position in shares of IES in the 4th quarter valued at about $40,578,000. 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 buying an additional 100,425 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in IES in the 2nd quarter valued at $37,385,000. Finally, Parsifal Capital Management LP acquired a new stake in shares of IES during the 2nd quarter worth about $35,977,035,000. Institutional investors own 86.60% of the company’s stock.

About IES

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.