Matrix Service Co. (NASDAQ:MTRX) CEO John R. Hewitt sold 14,043 shares of the business’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $18.75, for a total transaction of $263,306.25. Following the completion of the sale, the chief executive officer now directly owns 231,147 shares in the company, valued at approximately $4,334,006.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
John R. Hewitt also recently made the following trade(s):
- On Monday, September 12th, John R. Hewitt sold 15,957 shares of Matrix Service stock. The shares were sold at an average price of $19.02, for a total transaction of $303,502.14.
Shares of Matrix Service Co. (NASDAQ:MTRX) opened at 18.78 on Wednesday. The company has a market cap of $498.05 million, a price-to-earnings ratio of 17.55 and a beta of 1.52. Matrix Service Co. has a 12-month low of $14.07 and a 12-month high of $26.22. The stock has a 50 day moving average of $18.00 and a 200 day moving average of $17.25.
Matrix Service (NASDAQ:MTRX) last released its earnings results on Tuesday, August 30th. The company reported $0.34 earnings per share for the quarter, beating the 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 business earned $359.60 million during the quarter. During the same period in the prior year, the business posted $0.40 earnings per share. Matrix Service’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities analysts expect that Matrix Service Co. will post $1.25 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the stock. Royce & Associates LP boosted its position in 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. BlackRock Fund Advisors boosted its position in Matrix Service by 2.5% in the second quarter. BlackRock Fund Advisors now owns 1,873,375 shares of the company’s stock worth $30,892,000 after buying an additional 44,838 shares during the period. Dimensional Fund Advisors LP boosted its position in Matrix Service by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,598,652 shares of the company’s stock worth $26,361,000 after buying an additional 37,447 shares during the period. LSV Asset Management boosted its position in Matrix Service by 28.0% in the second quarter. LSV Asset Management now owns 1,434,410 shares of the company’s stock worth $23,653,000 after buying an additional 314,181 shares during the period. Finally, Vanguard Group Inc. boosted its position in Matrix Service by 4.2% in the second quarter. Vanguard Group Inc. now owns 1,362,792 shares of the company’s stock worth $22,472,000 after buying an additional 55,160 shares during the period. 91.96% of the stock is owned by institutional investors and hedge funds.
MTRX has been the topic of several analyst reports. Zacks Investment Research raised shares of 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 target on shares of Matrix Service in a report on Friday, August 26th. Finally, TheStreet raised shares of 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 issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $24.33.
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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