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 shares were sold at an average price of $18.12, for a total transaction of $352,379.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Matrix Service Co. (NASDAQ:MTRX) opened at 17.70 on Wednesday. The firm has a 50 day moving average of $17.82 and a 200-day moving average of $17.24. 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 $469.40 million, a P/E ratio of 16.54 and a beta of 1.66.
Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Tuesday, August 30th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. The company had revenue of $359.60 million for the quarter. Matrix Service had a net margin of 2.20% and a return on equity of 10.47%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 EPS. Analysts forecast that Matrix Service Co. will post $1.25 earnings per share for the current year.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Matrix Service from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Barclays PLC cut their target price on shares of Matrix Service from $41.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, June 6th. TheStreet raised shares of Matrix Service from a “hold” rating to a “buy” rating in a research note on Friday, September 16th. Finally, DA Davidson reaffirmed a “buy” rating and set a $20.00 target price on shares of Matrix Service in a research note on Friday, August 26th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $24.33.
Several hedge funds have recently bought and sold shares of MTRX. Jacobs Levy Equity Management Inc. raised its stake in Matrix Service by 46.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 50,400 shares of the company’s stock worth $892,000 after buying an additional 15,900 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Matrix Service by 12.5% in the first quarter. Nuveen Asset Management LLC now owns 166,016 shares of the company’s stock worth $2,939,000 after buying an additional 18,450 shares in the last quarter. Renaissance Technologies LLC raised its stake in Matrix Service by 14.6% in the first quarter. Renaissance Technologies LLC now owns 67,359 shares of the company’s stock worth $1,192,000 after buying an additional 8,559 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Matrix Service by 26.0% in the first quarter. Goldman Sachs Group Inc. now owns 57,352 shares of the company’s stock worth $1,015,000 after buying an additional 11,827 shares in the last quarter. Finally, Menta Capital LLC raised its stake in Matrix Service by 62.9% in the first quarter. Menta Capital LLC now owns 41,165 shares of the company’s stock worth $729,000 after buying an additional 15,900 shares in the last quarter. Institutional investors own 91.96% of the company’s stock.
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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