93,196 Shares in Matrix Service Company $MTRX Bought by Congruence Capital LLC

Congruence Capital LLC bought a new position in shares of Matrix Service Company (NASDAQ:MTRX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 93,196 shares of the company’s stock, valued at approximately $1,090,000. Matrix Service comprises 0.4% of Congruence Capital LLC’s portfolio, making the stock its 29th biggest position.

Other institutional investors have also bought and sold shares of the company. Quarry LP bought a new position in Matrix Service during the third quarter valued at $28,000. BNP Paribas Financial Markets lifted its position in Matrix Service by 68.9% during the second quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company’s stock valued at $34,000 after purchasing an additional 1,032 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Matrix Service by 133.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company’s stock valued at $45,000 after purchasing an additional 1,893 shares during the last quarter. Aquatic Capital Management LLC bought a new position in Matrix Service during the third quarter valued at $67,000. Finally, Daytona Street Capital LLC bought a new position in Matrix Service during the fourth quarter valued at $78,000. Institutional investors own 78.38% of the company’s stock.

Insider Buying and Selling at Matrix Service

In other news, CEO John R. Hewitt sold 36,000 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $12.50, for a total value of $450,000.00. Following the sale, the chief executive officer owned 581,806 shares of the company’s stock, valued at approximately $7,272,575. This represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Matrix Service in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

Matrix Service Trading Up 1.8%

Shares of MTRX opened at $13.71 on Friday. Matrix Service Company has a twelve month low of $9.88 and a twelve month high of $16.10. The company has a market cap of $385.66 million, a P/E ratio of -25.87, a P/E/G ratio of 3.05 and a beta of 0.99. The company’s fifty day simple moving average is $12.66 and its 200-day simple moving average is $12.17.

Matrix Service (NASDAQ:MTRX) last announced its earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.06. Matrix Service had a negative net margin of 1.77% and a negative return on equity of 3.60%. The business had revenue of $206.71 million for the quarter, compared to the consensus estimate of $231.52 million. Analysts predict that Matrix Service Company will post 0.25 earnings per share for the current fiscal year.

About Matrix Service

Matrix Service Company (NASDAQ: MTRX) is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.

The company’s service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.