Matrix Service Co (NASDAQ:MTRX) Director Tom E. Maxwell sold 17,400 shares of the firm’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $25.06, for a total value of $436,044.00. Following the completion of the transaction, the director now owns 47,889 shares in the company, valued at approximately $1,200,098.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Matrix Service stock traded up $0.05 during midday trading on Tuesday, reaching $24.60. The company’s stock had a trading volume of 234,800 shares, compared to its average volume of 180,987. Matrix Service Co has a 52 week low of $12.76 and a 52 week high of $25.75. The stock has a market cap of $695.49 million, a PE ratio of 165.33 and a beta of 0.95.

Matrix Service (NASDAQ:MTRX) last released its earnings results on Monday, September 10th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.04). Matrix Service had a negative net margin of 1.05% and a positive return on equity of 1.58%. The business had revenue of $293.10 million during the quarter, compared to the consensus estimate of $292.69 million. During the same quarter in the prior year, the firm earned ($0.04) EPS. The business’s revenue was up .4% on a year-over-year basis. research analysts forecast that Matrix Service Co will post 1.01 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Piedmont Investment Advisors LLC bought a new position in Matrix Service in the second quarter valued at about $115,000. Public Employees Retirement System of Ohio grew its position in Matrix Service by 78.5% in the second quarter. Public Employees Retirement System of Ohio now owns 7,303 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 3,211 shares during the last quarter. Meeder Asset Management Inc. grew its position in Matrix Service by 83.0% in the second quarter. Meeder Asset Management Inc. now owns 8,436 shares of the oil and gas company’s stock valued at $155,000 after acquiring an additional 3,825 shares during the last quarter. Sun Life Financial INC bought a new position in Matrix Service in the second quarter valued at about $189,000. Finally, Trexquant Investment LP bought a new position in Matrix Service in the first quarter valued at about $224,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

A number of research analysts recently commented on MTRX shares. BidaskClub cut Matrix Service from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 6th. ValuEngine cut Matrix Service from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 2nd. Citigroup raised their price target on Matrix Service from $37.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, July 5th. Finally, Zacks Investment Research upgraded Matrix Service from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $41.00.

About Matrix Service

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, natural gas fired power stations, and renewable energy installations; and high voltage services comprising the construction of new substations, upgrading existing substations, short-run transmission line installations, distribution upgrades and maintenance, and storm restoration services to investor owned utilities.

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