Matrix Service Co. (MTRX) VP Justin D. Sheets Sells 2,100 Shares of Stock
Matrix Service Co. (NASDAQ:MTRX) VP Justin D. Sheets sold 2,100 shares of the firm’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $18.71, for a total transaction of $39,291.00. Following the sale, the vice president now owns 13,979 shares of the company’s stock, valued at $261,547.09. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Matrix Service Co. (NASDAQ:MTRX) opened at 18.78 on Wednesday. Matrix Service Co. has a 12-month low of $14.07 and a 12-month high of $26.22. The company has a 50 day moving average of $18.00 and a 200-day moving average of $17.25. The stock has a market cap of $498.05 million, a P/E ratio of 17.55 and a beta of 1.52.
Matrix Service (NASDAQ:MTRX) last released its quarterly earnings results on Tuesday, August 30th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. The company had revenue of $359.60 million for the quarter. Matrix Service had a return on equity of 10.47% and a net margin of 2.20%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the firm earned $0.40 EPS. Equities analysts forecast that Matrix Service Co. will post $1.25 earnings per share for the current year.
A number of brokerages have recently issued reports on MTRX. 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 set a $20.00 price target on shares of Matrix Service in a report on Friday, August 26th. Finally, Zacks Investment Research raised shares of Matrix Service from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $24.33.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Matrix Service during the fourth quarter valued at approximately $9,046,000. Glenmede Trust Co. NA raised its position in Matrix Service by 8.8% in the first quarter. Glenmede Trust Co. NA now owns 57,208 shares of the company’s stock valued at $1,012,000 after buying an additional 4,645 shares during the period. Nisa Investment Advisors L.L.C. raised its position in Matrix Service by 34.2% in the first quarter. Nisa Investment Advisors L.L.C. now owns 30,200 shares of the company’s stock worth $535,000 after buying an additional 7,700 shares during the last quarter. Teachers Advisors Inc. raised its position in Matrix Service by 3.7% in the first quarter. Teachers Advisors Inc. now owns 463,841 shares of the company’s stock worth $8,210,000 after buying an additional 16,615 shares during the last quarter. Finally, BlackRock Fund Advisors raised its position in Matrix Service by 0.5% in the first quarter. BlackRock Fund Advisors now owns 1,828,537 shares of the company’s stock worth $32,365,000 after buying an additional 9,072 shares during the last quarter. 91.96% of the stock is currently owned by institutional investors.
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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