Matrix Service Co. (MTRX) COO Sells $352,379.64 in Stock
Matrix Service Co. (NASDAQ:MTRX) COO Joseph F. Montalbano sold 19,447 shares of the company’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $18.12, for a total transaction of $352,379.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Matrix Service Co. (NASDAQ:MTRX) opened at 17.70 on Wednesday. The firm’s 50 day moving average is $17.82 and its 200 day moving average is $17.24. The company has a market cap of $469.40 million, a P/E ratio of 16.54 and a beta of 1.66. Matrix Service Co. has a 12-month low of $14.07 and a 12-month high of $26.22.
Matrix Service (NASDAQ:MTRX) last announced its earnings results on Tuesday, August 30th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.04. Matrix Service had a net margin of 2.20% and a return on equity of 10.47%. The business had revenue of $359.60 million for the quarter. During the same quarter last year, the business earned $0.40 EPS. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. Equities research analysts anticipate that Matrix Service Co. will post $1.25 EPS for the current fiscal year.
Several research analysts recently weighed in on the stock. TheStreet raised shares of Matrix Service from a “hold” rating to a “buy” rating in a report on Friday, September 16th. DA Davidson reaffirmed a “buy” rating and issued a $20.00 target price on shares of Matrix Service in a report on Friday, August 26th. Zacks Investment Research raised shares of Matrix Service from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 13th. Finally, Barclays PLC dropped their target price on shares of Matrix Service from $41.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, June 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $24.33.
Hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System raised its stake in shares of Matrix Service by 0.7% in the second quarter. Arizona State Retirement System now owns 13,848 shares of the company’s stock valued at $228,000 after buying an additional 100 shares during the period. Airain ltd raised its position in Matrix Service by 1.8% in the second quarter. Airain ltd now owns 17,383 shares of the company’s stock worth $287,000 after buying an additional 305 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Matrix Service by 5.2% in the second quarter. Thrivent Financial for Lutherans now owns 12,980 shares of the company’s stock worth $214,000 after buying an additional 640 shares during the last quarter. Ameriprise Financial Inc. raised its position in Matrix Service by 0.6% in the second quarter. Ameriprise Financial Inc. now owns 161,961 shares of the company’s stock worth $2,670,000 after buying an additional 919 shares during the last quarter. Finally, Mutual of America Capital Management LLC raised its position in Matrix Service by 2.6% in the second quarter. Mutual of America Capital Management LLC now owns 62,312 shares of the company’s stock worth $1,028,000 after buying an additional 1,558 shares during the last quarter. Institutional investors and hedge funds own 91.96% of the company’s stock.
About Matrix Service
Matrix Service Company provides engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company’s Electrical Infrastructure segment primarily provides construction and maintenance services to a range of power generation facilities, such as combined cycle plants and renewable energy installations.
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