Sterling Capital Management LLC acquired a new position in shares of Matrix Service Co (NASDAQ:MTRX) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 40,199 shares of the oil and gas company’s stock, valued at approximately $991,000.

A number of other hedge funds have also bought and sold shares of MTRX. BlackRock Inc. increased its holdings in Matrix Service by 8.0% during the 2nd quarter. BlackRock Inc. now owns 3,947,650 shares of the oil and gas company’s stock worth $72,440,000 after purchasing an additional 290,833 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Matrix Service during the 3rd quarter worth approximately $3,888,000. Millennium Management LLC purchased a new stake in Matrix Service during the 2nd quarter worth approximately $2,807,000. Systematic Financial Management LP purchased a new stake in Matrix Service during the 2nd quarter worth approximately $1,407,000. Finally, FMR LLC increased its holdings in Matrix Service by 319.3% during the 2nd quarter. FMR LLC now owns 95,338 shares of the oil and gas company’s stock worth $1,749,000 after purchasing an additional 72,600 shares during the last quarter. Institutional investors own 91.48% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. ValuEngine downgraded Matrix Service from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 2nd. BidaskClub downgraded Matrix Service from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 19th. Finally, Zacks Investment Research downgraded Matrix Service from a “hold” rating to a “strong sell” rating in a report on Saturday, September 15th.

Shares of NASDAQ MTRX opened at $21.63 on Friday. Matrix Service Co has a twelve month low of $13.00 and a twelve month high of $25.75. The company has a market capitalization of $601.23 million, a PE ratio of 117.16 and a beta of 1.01.

Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings results on Wednesday, November 7th. The oil and gas company reported $0.08 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.08. Matrix Service had a positive return on equity of 1.58% and a negative net margin of 1.05%. The business had revenue of $318.50 million during the quarter, compared to the consensus estimate of $294.82 million. During the same period in the previous year, the business earned $0.14 EPS. The business’s quarterly revenue was up 18.0% on a year-over-year basis. On average, sell-side analysts predict that Matrix Service Co will post 1.01 earnings per share for the current fiscal year.

In related news, insider Bradley J. Rinehart sold 1,116 shares of the company’s stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $24.65, for a total transaction of $27,509.40. Following the completion of the transaction, the insider now directly owns 65,167 shares in the company, valued at approximately $1,606,366.55. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Joseph F. Montalbano sold 34,785 shares of the company’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $22.66, for a total value of $788,228.10. The disclosure for this sale can be found here. Insiders sold a total of 98,266 shares of company stock valued at $2,369,773 over the last quarter. Company insiders own 1.90% of the company’s stock.

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Matrix Service Company Profile

Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, and mining and minerals markets in the United States, Canada, and internationally. The company's Electrical Infrastructure segment offers construction and maintenance services to various power generation facilities, such as combined cycle plants and natural gas fired power stations; and high voltage services comprising the construction of new substations, upgrading existing substations, short-run transmission line installations, distribution upgrades and maintenance, and emergency and storm restoration services to investor owned utilities.

See Also: Average Daily Trade Volume – ADTV

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Institutional Ownership by Quarter for Matrix Service (NASDAQ:MTRX)

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