Justin D. Sheets Sells 2,100 Shares of Matrix Service Co. (MTRX) Stock
Matrix Service Co. (NASDAQ:MTRX) VP Justin D. Sheets sold 2,100 shares of the firm’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $18.71, for a total value of $39,291.00. Following the completion of the sale, the vice president now owns 13,979 shares of the company’s stock, valued at $261,547.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Matrix Service Co. (NASDAQ:MTRX) opened at 18.93 on Tuesday. Matrix Service Co. has a 52-week low of $14.07 and a 52-week high of $26.22. The company has a market capitalization of $502.02 million, a P/E ratio of 17.69 and a beta of 1.52. The stock’s 50 day moving average price is $17.97 and its 200 day moving average price is $17.24.
Matrix Service (NASDAQ:MTRX) last announced its earnings results on Tuesday, August 30th. The company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.04. The business earned $359.60 million during 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.40 earnings per share. On average, equities research analysts forecast that Matrix Service Co. will post $1.25 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its stake in shares of Matrix Service by 93.2% in the second quarter. BNP Paribas Arbitrage SA now owns 8,641 shares of the company’s stock valued at $142,000 after buying an additional 4,168 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new stake in shares of Matrix Service during the second quarter valued at approximately $180,000. BlackRock Inc. boosted its stake in shares of Matrix Service by 545.5% in the second quarter. BlackRock Inc. now owns 11,961 shares of the company’s stock valued at $197,000 after buying an additional 10,108 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Matrix Service by 5.2% in the second quarter. Thrivent Financial for Lutherans now owns 12,980 shares of the company’s stock valued at $214,000 after buying an additional 640 shares during the last quarter. Finally, Arizona State Retirement System boosted 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 last quarter. 91.96% of the stock is owned by institutional investors and hedge funds.
MTRX has been the subject of a number of analyst reports. Barclays PLC lowered their price target on Matrix Service from $41.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, June 6th. Zacks Investment Research upgraded Matrix Service from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 13th. DA Davidson restated a “buy” rating and issued a $20.00 price target on shares of Matrix Service in a research report on Friday, August 26th. Finally, TheStreet upgraded Matrix Service from a “hold” rating to a “buy” rating in a research report on Friday, September 16th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $24.33.
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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