California State Teachers Retirement System cut its stake in shares of Matrix Service Co. (NASDAQ:MTRX) by 1.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,688 shares of the company’s stock after selling 900 shares during the period. California State Teachers Retirement System owned 0.21% of Matrix Service worth $918,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its position in Matrix Service by 93.2% in the second quarter. BNP Paribas Arbitrage SA now owns 8,641 shares of the company’s stock worth $142,000 after buying an additional 4,168 shares during the period. Foundry Partners LLC boosted its position in Matrix Service by 18.8% in the second quarter. Foundry Partners LLC now owns 13,873 shares of the company’s stock worth $229,000 after buying an additional 2,200 shares during the period. Arizona State Retirement System boosted its position in Matrix Service by 6.2% in the first quarter. Arizona State Retirement System now owns 13,748 shares of the company’s stock worth $243,000 after buying an additional 800 shares during the period. Royal Bank of Canada boosted its position in Matrix Service by 41.2% in the first quarter. Royal Bank of Canada now owns 13,737 shares of the company’s stock worth $243,000 after buying an additional 4,007 shares during the period. Finally, Independent Portfolio Consultants Inc. boosted its position in Matrix Service by 54.9% in the second quarter. Independent Portfolio Consultants Inc. now owns 20,550 shares of the company’s stock worth $339,000 after buying an additional 7,285 shares during the period. 91.96% of the stock is owned by institutional investors and hedge funds.
Matrix Service Co. (NASDAQ:MTRX) traded up 4.63% on Wednesday, reaching $18.52. The company had a trading volume of 283,898 shares. Matrix Service Co. has a 12-month low of $14.07 and a 12-month high of $26.22. The stock has a market capitalization of $491.15 million, a P/E ratio of 17.31 and a beta of 1.66. The stock’s 50-day moving average price is $17.82 and its 200-day moving average price is $17.24.
Matrix Service (NASDAQ:MTRX) last issued its earnings results on Tuesday, August 30th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. Matrix Service had a return on equity of 10.47% and a net margin of 2.20%. The business earned $359.60 million during the quarter. During the same quarter in the prior year, the business earned $0.40 EPS. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities research analysts anticipate that Matrix Service Co. will post $1.25 EPS for the current fiscal year.
A number of research firms have commented on MTRX. TheStreet raised shares of Matrix Service from a “hold” rating to a “buy” rating in a research report on Friday, September 16th. DA Davidson reaffirmed a “buy” rating and set a $20.00 price objective on shares of Matrix Service in a research report on Friday, August 26th. Zacks Investment Research raised shares of Matrix Service from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Finally, Barclays PLC reduced their target price on shares of Matrix Service from $41.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, June 6th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Matrix Service currently has a consensus rating of “Buy” and a consensus target price of $24.33.
In other Matrix Service news, insider James P. Ryan sold 5,416 shares of the firm’s stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $18.30, for a total value of $99,112.80. Following the completion of the transaction, the insider now owns 84,541 shares in the company, valued at approximately $1,547,100.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Joseph F. Montalbano sold 19,447 shares of the firm’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $18.12, for a total value of $352,379.64. The disclosure for this sale can be found here. 1.60% of the stock is 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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