California Public Employees Retirement System Sells 6,900 Shares of Matrix Service Co. (MTRX)
California Public Employees Retirement System reduced its position in Matrix Service Co. (NASDAQ:MTRX) by 7.3% during the second quarter, Holdings Channel reports. The firm owned 87,400 shares of the company’s stock after selling 6,900 shares during the period. California Public Employees Retirement System owned approximately 0.33% of Matrix Service worth $1,441,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Nisa Investment Advisors L.L.C. raised its position in shares of 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 period. Teachers Advisors Inc. raised its position in shares of 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 period. BlackRock Fund Advisors raised its position in shares of 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 period. Royce & Associates LP raised its position in shares of Matrix Service by 9.7% in the first quarter. Royce & Associates LP now owns 2,760,795 shares of the company’s stock worth $48,866,000 after buying an additional 244,412 shares during the period. Finally, Menta Capital LLC raised its position in shares of Matrix Service by 62.9% in the first quarter. Menta Capital LLC now owns 41,165 shares of the company’s stock worth $729,000 after buying an additional 15,900 shares during the period. 91.96% of the stock is owned by institutional investors and hedge funds.
Matrix Service Co. (NASDAQ:MTRX) traded up 0.16% during midday trading on Wednesday, reaching $18.75. The company’s stock had a trading volume of 22,153 shares. Matrix Service Co. has a 52-week low of $14.07 and a 52-week high of $25.07. The firm has a 50-day moving average price of $18.24 and a 200 day moving average price of $17.29. The stock has a market capitalization of $497.25 million, a price-to-earnings ratio of 17.52 and a beta of 1.52.
Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Tuesday, August 30th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.04. The firm earned $359.60 million during the quarter. Matrix Service had a net margin of 2.20% and a return on equity of 10.47%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. Equities research analysts predict that Matrix Service Co. will post $1.25 EPS for the current fiscal year.
A number of equities analysts recently issued reports on MTRX shares. Zacks Investment Research raised Matrix Service from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 13th. DA Davidson reissued a “buy” rating and issued a $20.00 price objective on shares of Matrix Service in a report on Friday, August 26th. Finally, TheStreet raised Matrix Service from a “hold” rating to a “buy” rating in a report on Friday, September 16th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Matrix Service presently has a consensus rating of “Buy” and an average target price of $24.33.
In other Matrix Service news, CEO John R. Hewitt sold 14,043 shares of the business’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $18.75, for a total value of $263,306.25. Following the completion of the sale, the chief executive officer now owns 231,147 shares of the company’s stock, valued at approximately $4,334,006.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joseph F. Montalbano sold 19,447 shares of the business’s stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $18.12, for a total transaction of $352,379.64. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.
Matrix Service Company Profile
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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