Matrix Service Co (NASDAQ:MTRX) VP Kevin S. Cavanah sold 14,505 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $21.15, for a total value of $306,780.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
MTRX opened at $21.19 on Thursday. The firm has a market capitalization of $568.04 million, a P/E ratio of 141.27 and a beta of 1.07. Matrix Service Co has a 1 year low of $15.43 and a 1 year high of $25.75. The company has a quick ratio of 1.40, a current ratio of 1.43 and a debt-to-equity ratio of 0.01.
Matrix Service (NASDAQ:MTRX) last released its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.07. The business had revenue of $358.89 million during the quarter, compared to the consensus estimate of $347.85 million. Matrix Service had a return on equity of 4.93% and a net margin of 0.04%. The firm’s quarterly revenue was up 46.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.19) EPS. On average, research analysts expect that Matrix Service Co will post 0.97 EPS for the current fiscal year.
MTRX has been the subject of several recent research reports. Zacks Investment Research upgraded Matrix Service from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Tuesday, January 22nd. DA Davidson initiated coverage on Matrix Service in a research note on Wednesday, March 13th. They issued a “neutral” rating and a $22.00 price target for the company. Finally, BidaskClub downgraded Matrix Service from a “buy” rating to a “hold” rating in a research note on Saturday, March 30th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $36.67.
A number of hedge funds and other institutional investors have recently made changes to their positions in MTRX. Bank of New York Mellon Corp raised its holdings in Matrix Service by 3.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 363,363 shares of the oil and gas company’s stock valued at $8,956,000 after acquiring an additional 11,474 shares in the last quarter. Martingale Asset Management L P acquired a new position in Matrix Service in the 3rd quarter valued at $1,281,000. Renaissance Technologies LLC acquired a new position in Matrix Service in the 3rd quarter valued at $2,987,000. MetLife Investment Advisors LLC raised its holdings in Matrix Service by 57.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 22,319 shares of the oil and gas company’s stock valued at $550,000 after acquiring an additional 8,123 shares in the last quarter. Finally, Teachers Advisors LLC raised its holdings in Matrix Service by 6.3% in the 3rd quarter. Teachers Advisors LLC now owns 73,114 shares of the oil and gas company’s stock valued at $1,802,000 after acquiring an additional 4,345 shares in the last quarter. 96.28% of the stock is owned by hedge funds and other institutional investors.
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About Matrix Service
Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, and mining and minerals markets in the United States, Canada, and internationally. The company's Electrical Infrastructure segment offers construction and maintenance services to various power generation facilities, such as combined cycle plants and natural gas fired power stations; and high voltage services comprising the construction of new substations, upgrading existing substations, short-run transmission line installations, distribution upgrades and maintenance, and emergency and storm restoration services to investor owned utilities.
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