California Public Employees Retirement System Increases Position in Matrix Service Co (MTRX)
California Public Employees Retirement System lifted its holdings in Matrix Service Co (NASDAQ:MTRX) by 19.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 146,650 shares of the oil and gas company’s stock after purchasing an additional 24,350 shares during the period. California Public Employees Retirement System’s holdings in Matrix Service were worth $2,229,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Matrix Service in the third quarter worth approximately $138,000. Voya Investment Management LLC lifted its stake in Matrix Service by 22.5% in the second quarter. Voya Investment Management LLC now owns 16,344 shares of the oil and gas company’s stock worth $153,000 after acquiring an additional 2,997 shares during the last quarter. Cullen Capital Management LLC purchased a new position in Matrix Service in the second quarter worth approximately $157,000. Brandes Investment Partners LP purchased a new position in Matrix Service in the third quarter worth approximately $171,000. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in Matrix Service in the third quarter worth approximately $185,000. Hedge funds and other institutional investors own 88.28% of the company’s stock.
A number of research analysts recently issued reports on MTRX shares. BidaskClub downgraded shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 6th. TheStreet upgraded shares of Matrix Service from a “d+” rating to a “c-” rating in a research note on Monday, October 9th. Finally, Zacks Investment Research upgraded shares of Matrix Service from a “sell” rating to a “hold” rating and set a $18.00 price objective for the company in a research report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $18.00.
Shares of Matrix Service Co (NASDAQ MTRX) opened at $19.50 on Friday. The firm has a market cap of $524.27, a P/E ratio of -88.64 and a beta of 0.85. The company has a current ratio of 1.74, a quick ratio of 1.72 and a debt-to-equity ratio of 0.13. Matrix Service Co has a 12-month low of $7.80 and a 12-month high of $23.10.
Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings data on Tuesday, November 7th. The oil and gas company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.08. The business had revenue of $269.91 million during the quarter, compared to the consensus estimate of $290.56 million. Matrix Service had a negative net margin of 0.51% and a negative return on equity of 1.75%. The company’s revenue was down 21.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 EPS. research analysts expect that Matrix Service Co will post 0.69 earnings per share for the current fiscal year.
In other news, CEO John R. Hewitt sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $17.66, for a total transaction of $88,300.00. Following the completion of the sale, the chief executive officer now owns 283,529 shares in the company, valued at approximately $5,007,122.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is currently owned by 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 segments include Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.
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