IES (NASDAQ:IESC) Stock Rating Lowered by Wall Street Zen

IES (NASDAQ:IESC) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other equities research analysts have also issued research reports about the company. Weiss Ratings lowered IES from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, September 1st. Freedom Broker raised shares of IES from a “hold” rating to a “buy” rating and set a $440.00 price target for the company in a research note on Friday. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $277.25.

IES Stock Performance

IESC stock opened at $345.71 on Friday. The stock has a 50-day moving average price of $236.14 and a two-hundred day moving average price of $179.58. The stock has a market cap of $13.78 billion, a PE ratio of 30.72 and a beta of 1.78. IES has a 1 year low of $170.07 and a 1 year high of $408.26.

IES (NASDAQ:IESC) last issued its quarterly earnings results on Friday, July 31st. The technology company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.47. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.08 billion. IES had a return on equity of 35.70% and a net margin of 11.40%.

Institutional Investors Weigh In On IES

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System increased its holdings in IES by 71,071.5% during the second quarter. California State Teachers Retirement System now owns 7,611,078 shares of the technology company’s stock worth $5,591,555,000 after buying an additional 7,600,384 shares during the last quarter. BlackRock Inc. acquired a new stake in IES in the second quarter valued at $649,086,000. First Trust Advisors LP grew its position in shares of IES by 40.4% in the 1st quarter. First Trust Advisors LP now owns 349,163 shares of the technology company’s stock valued at $166,366,000 after acquiring an additional 100,425 shares during the period. Geode Capital Management LLC grew its position in shares of IES by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 274,725 shares of the technology company’s stock valued at $106,887,000 after acquiring an additional 6,349 shares during the period. Finally, Pertento Partners LLP increased its stake in shares of IES by 17.1% during the 4th quarter. Pertento Partners LLP now owns 209,351 shares of the technology company’s stock worth $81,442,000 after purchasing an additional 30,583 shares during the last quarter. 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.