Matrix Service Co. (NASDAQ:MTRX) CEO John R. Hewitt sold 14,043 shares of Matrix Service stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $18.75, for a total value of $263,306.25. Following the completion of the transaction, the chief executive officer now owns 231,147 shares of the company’s stock, valued at approximately $4,334,006.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
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 value of $303,502.14.
Matrix Service Co. (NASDAQ:MTRX) opened at 18.93 on Tuesday. Matrix Service Co. has a one year low of $14.07 and a one year high of $26.22. The stock’s 50 day moving average price is $17.97 and its 200 day moving average price is $17.24. The firm has a market capitalization of $502.02 million, a PE ratio of 17.69 and a beta of 1.52.
Matrix Service (NASDAQ:MTRX) last announced its earnings results on Tuesday, August 30th. The company reported $0.34 earnings per share for the quarter, topping 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 quarter last year, the company posted $0.40 EPS. Matrix Service’s quarterly revenue was down 1.3% on a year-over-year basis. Analysts expect that Matrix Service Co. will post $1.25 EPS for the current year.
Several research firms recently issued reports on MTRX. DA Davidson reiterated a “buy” rating and issued a $20.00 price objective on shares of Matrix Service in a report on Friday, August 26th. TheStreet upgraded Matrix Service from a “hold” rating to a “buy” rating in a report on Friday, September 16th. Barclays PLC lowered their price objective on Matrix Service from $41.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, June 6th. Finally, Zacks Investment Research upgraded Matrix Service from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Matrix Service currently has a consensus rating of “Buy” and an average price target of $24.33.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Fiera Capital Corp purchased a new position in Matrix Service during the second quarter valued at about $7,418,000. Norges Bank purchased a new position in Matrix Service during the fourth quarter valued at about $9,046,000. 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 valued at $23,653,000 after buying an additional 314,181 shares in the last quarter. 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 valued at $48,866,000 after buying an additional 244,412 shares in the last quarter. Finally, Riverhead Capital Management LLC boosted its position in Matrix Service by 3,115.4% in the second quarter. Riverhead Capital Management LLC now owns 234,594 shares of the company’s stock valued at $7,259,000 after buying an additional 227,298 shares in the last quarter. 91.96% of the stock is owned by hedge funds and other institutional investors.
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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