IES (NASDAQ:IESC) Shares Down 11.6% - Should You Sell?

Key Points

• IES shares fell 11.6% in mid-day trading to about $179.85, with 145,601 shares traded—65% below the average daily volume.
• Analyst views are mixed, with one Buy and two Hold ratings; MarketBeat reports an overall Hold rating and an average price target of $334.50.
• Institutional investors and hedge funds own 86.6% of the stock, and several firms reported increasing their holdings or initiating positions.

IES Holdings, Inc. (NASDAQ:IESC - Get Free Report)'s share price traded down 11.6% during mid-day trading on Wednesday. The company traded as low as $180.90 and last traded at $179.8460. 145,601 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 418,428 shares. The stock had previously closed at $203.38.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Freedom Broker raised IES from a "hold" rating to a "buy" rating and set a $440.00 price target on the stock in a research note on Friday, September 11th. Weiss Ratings downgraded IES from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 23rd. Finally, Wall Street Zen raised 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. Based on data from MarketBeat, IES presently has an average rating of "Hold" and an average target price of $334.50.

IES Trading Down 14.3%

The business has a 50 day simple moving average of $292.07 and a two-hundred day simple moving average of $294.18. The company has a market cap of $6.95 billion, a PE ratio of 15.51 and a beta of 1.86.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. RIHO Partners LLC bought a new position in shares of IES during the first quarter valued at $4,069,000. Lazard Asset Management LLC increased its position in shares of IES by 164.4% during the 1st quarter. Lazard Asset Management LLC now owns 10,822 shares of the technology company's stock worth $5,156,000 after purchasing an additional 6,729 shares in the last quarter. First Trust Advisors LP increased its position in shares of IES by 40.4% during the 1st quarter. First Trust Advisors LP now owns 349,163 shares of the technology company's stock worth $166,366,000 after purchasing an additional 100,425 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in IES by 94.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 11,575 shares of the technology company's stock valued at $5,515,000 after purchasing an additional 5,618 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in IES during the 4th quarter valued at about $2,826,000. 86.60% of the stock is owned by institutional investors and hedge funds.

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.

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