Bank of New York Mellon Corp Trims Stock Position in IES Holdings, Inc. (NASDAQ:IESC)

Bank of New York Mellon Corp reduced its position in IES Holdings, Inc. (NASDAQ:IESC - Free Report) by 24.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,155 shares of the technology company's stock after selling 7,598 shares during the period. Bank of New York Mellon Corp owned about 0.12% of IES worth $4,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in IESC. Peterson Wealth Services grew its holdings in IES by 1.2% in the fourth quarter. Peterson Wealth Services now owns 8,110 shares of the technology company's stock valued at $1,630,000 after purchasing an additional 100 shares during the period. KBC Group NV lifted its position in shares of IES by 52.5% during the 4th quarter. KBC Group NV now owns 401 shares of the technology company's stock valued at $81,000 after buying an additional 138 shares in the last quarter. Rhumbline Advisers grew its stake in IES by 1.4% in the 4th quarter. Rhumbline Advisers now owns 12,297 shares of the technology company's stock valued at $2,471,000 after acquiring an additional 171 shares during the period. Colonial River Investments LLC increased its holdings in IES by 6.6% in the 4th quarter. Colonial River Investments LLC now owns 4,043 shares of the technology company's stock worth $812,000 after acquiring an additional 249 shares in the last quarter. Finally, Truvestments Capital LLC raised its position in IES by 9.1% during the third quarter. Truvestments Capital LLC now owns 5,286 shares of the technology company's stock worth $1,055,000 after acquiring an additional 441 shares during the period. 86.60% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of IES from a "buy" rating to a "hold" rating in a research report on Friday, March 14th.

IES Stock Performance

Shares of NASDAQ:IESC traded down $2.84 during midday trading on Friday, hitting $184.19. The company's stock had a trading volume of 97,012 shares, compared to its average volume of 171,259. The company has a market cap of $3.69 billion, a P/E ratio of 17.15 and a beta of 1.57. IES Holdings, Inc. has a 12-month low of $110.17 and a 12-month high of $320.09. The business's 50 day simple moving average is $212.70 and its 200 day simple moving average is $219.87.

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

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.