Matrix Service Co. (NASDAQ:MTRX) COO Joseph F. Montalbano sold 19,447 shares of the business’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $18.12, for a total transaction of $352,379.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Matrix Service Co. (NASDAQ:MTRX) opened at 18.52 on Thursday. Matrix Service Co. has a 1-year low of $14.07 and a 1-year high of $26.22. The stock has a 50 day moving average price of $17.84 and a 200 day moving average price of $17.25. The stock has a market capitalization of $491.15 million, a price-to-earnings ratio of 17.31 and a beta of 1.66.
Matrix Service (NASDAQ:MTRX) last released 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. Matrix Service had a net margin of 2.20% and a return on equity of 10.47%. The firm had revenue of $359.60 million for the quarter. During the same quarter in the prior year, the business posted $0.40 earnings per share. Matrix Service’s revenue for the quarter was down 1.3% on a year-over-year basis. Equities research analysts anticipate that Matrix Service Co. will post $1.25 EPS for the current year.
A number of equities analysts recently weighed in on MTRX shares. DA Davidson restated a “buy” rating and issued a $20.00 price objective on shares of Matrix Service in a report on Friday, August 26th. TheStreet upgraded shares of Matrix Service from a “hold” rating to a “buy” rating in a research note on Friday, September 16th. Barclays PLC decreased 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 note on Monday, June 6th. Finally, Zacks Investment Research upgraded shares of Matrix Service from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $24.33.
Institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP increased its stake 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 valued at $48,866,000 after buying an additional 244,412 shares during the period. BlackRock Fund Advisors increased its stake in shares of Matrix Service by 2.5% in the second quarter. BlackRock Fund Advisors now owns 1,873,375 shares of the company’s stock valued at $30,892,000 after buying an additional 44,838 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Matrix Service by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,598,652 shares of the company’s stock valued at $26,361,000 after buying an additional 37,447 shares during the period. LSV Asset Management increased its stake in shares of Matrix Service by 28.0% in the second quarter. LSV Asset Management now owns 1,434,410 shares of the company’s stock valued at $23,653,000 after buying an additional 314,181 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Matrix Service by 4.2% in the second quarter. Vanguard Group Inc. now owns 1,362,792 shares of the company’s stock valued at $22,472,000 after buying an additional 55,160 shares during the period. Hedge funds and other institutional investors own 91.96% of the company’s stock.
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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