IES (NASDAQ:IESC) Stock Price Down 8.7% – Here’s Why

IES Holdings, Inc. (NASDAQ:IESC) shares were down 8.7% during trading on Monday . The company traded as low as $166.46 and last traded at $167.03. Approximately 41,334 shares traded hands during trading, a decline of 77% from the average daily volume of 177,333 shares. The stock had previously closed at $183.00.

Analyst Ratings Changes

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

IES Stock Down 9.2 %

The firm has a market capitalization of $3.32 billion, a PE ratio of 15.47 and a beta of 1.51. The business’s fifty day moving average price is $182.89 and its 200 day moving average price is $220.54.

IES (NASDAQ:IESC) last announced its earnings results on Tuesday, February 4th. The technology company reported $2.64 earnings per share for the quarter. IES had a return on equity of 35.81% and a net margin of 7.30%.

Institutional Investors Weigh In On IES

A number of institutional investors have recently added to or reduced their stakes in the business. J.Safra Asset Management Corp grew its holdings in IES by 56.8% during the fourth quarter. J.Safra Asset Management Corp now owns 138 shares of the technology company’s stock worth $28,000 after acquiring an additional 50 shares during the period. Smithfield Trust Co acquired a new stake in shares of IES in the fourth quarter valued at about $34,000. National Bank of Canada FI acquired a new position in IES during the fourth quarter worth about $54,000. Harbour Investments Inc. purchased a new position in IES in the fourth quarter valued at about $71,000. Finally, Jones Financial Companies Lllp purchased a new stake in shares of IES during the 4th quarter worth approximately $74,000. Hedge funds and other institutional investors own 86.60% of the company’s stock.

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.