IES (NASDAQ:IESC) Sets New 12-Month Low – Here’s What Happened

IES Holdings, Inc. (NASDAQ:IESC) hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $164.00 and last traded at $159.5930, with a volume of 9,995 shares changing hands. The stock had previously closed at $169.07.

Analyst Ratings Changes

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

IES Stock Down 10.4%

The company has a market cap of $6.03 billion, a P/E ratio of 13.69 and a beta of 1.86. The business has a 50-day moving average price of $289.18 and a two-hundred day moving average price of $293.98.

Institutional Investors Weigh In On IES

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in IES in the 2nd quarter worth $649,086,000. First Trust Advisors LP boosted its position in IES by 40.4% during 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 during the period. Bank of New York Mellon Corp purchased a new stake in IES during the second quarter valued at about $37,385,000. Parsifal Capital Management LP bought a new position in shares of IES during the second quarter valued at about $35,977,035,000. Finally, Bank of America Corp DE bought a new position in shares of IES during the second quarter valued at about $27,235,000. Hedge funds and other institutional investors own 86.60% of the company’s stock.

About IES

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.