Bank of New York Mellon Corp Has $4.65 Million Holdings in IES Holdings, Inc. (NASDAQ:IESC)

Bank of New York Mellon Corp cut its holdings in shares of IES Holdings, Inc. (NASDAQ:IESC) by 24.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,155 shares of the technology company’s stock after selling 7,598 shares during the quarter. Bank of New York Mellon Corp owned about 0.12% of IES worth $4,653,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. KBC Group NV increased its position in shares of IES by 52.5% during the fourth quarter. KBC Group NV now owns 401 shares of the technology company’s stock valued at $81,000 after purchasing an additional 138 shares during the period. City State Bank acquired a new position in IES in the fourth quarter worth $106,000. Quest Partners LLC boosted its stake in IES by 159.5% in the third quarter. Quest Partners LLC now owns 768 shares of the technology company’s stock worth $153,000 after purchasing an additional 472 shares in the last quarter. Callahan Advisors LLC acquired a new position in IES in the fourth quarter worth $201,000. Finally, Ieq Capital LLC acquired a new position in IES in the fourth quarter worth $207,000. 86.60% of the stock is currently owned by institutional investors and hedge funds.

IES Stock Up 2.4 %

Shares of IESC opened at $186.21 on Tuesday. IES Holdings, Inc. has a 12-month low of $101.31 and a 12-month high of $320.09. The firm has a market capitalization of $3.73 billion, a PE ratio of 17.34 and a beta of 1.57. The stock’s fifty day simple moving average is $214.94 and its 200-day simple moving average is $220.37.

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

Analysts Set New Price Targets

Separately, StockNews.com lowered IES from a “buy” rating to a “hold” rating in a research note on Friday.

IES 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.