Insider Selling: Matrix Service Co (MTRX) Insider Sells 3,000 Shares of Stock

Matrix Service Co (NASDAQ:MTRX) insider Alan R. Updyke sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $21.46, for a total value of $64,380.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of NASDAQ MTRX opened at $20.65 on Tuesday. Matrix Service Co has a twelve month low of $13.00 and a twelve month high of $25.75. The company has a market capitalization of $551.40 million, a P/E ratio of 137.67 and a beta of 1.10.

Matrix Service (NASDAQ:MTRX) last announced its quarterly earnings data on Wednesday, February 6th. The oil and gas company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). Matrix Service had a positive return on equity of 0.94% and a negative net margin of 1.14%. The firm had revenue of $340.60 million during the quarter, compared to analysts’ expectations of $317.23 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. Matrix Service’s revenue was up 20.4% on a year-over-year basis. As a group, analysts anticipate that Matrix Service Co will post 0.95 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. raised its holdings in Matrix Service by 529.7% in the 4th quarter. American Century Companies Inc. now owns 290,557 shares of the oil and gas company’s stock worth $5,213,000 after acquiring an additional 244,412 shares during the last quarter. Geode Capital Management LLC raised its holdings in Matrix Service by 9.5% in the 4th quarter. Geode Capital Management LLC now owns 397,054 shares of the oil and gas company’s stock worth $7,123,000 after acquiring an additional 34,544 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Matrix Service by 100.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 17,134 shares of the oil and gas company’s stock worth $307,000 after acquiring an additional 8,600 shares during the last quarter. Macquarie Group Ltd. raised its holdings in Matrix Service by 167.9% in the 4th quarter. Macquarie Group Ltd. now owns 1,436 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 900 shares during the last quarter. Finally, Hancock Whitney Corp purchased a new position in Matrix Service in the 4th quarter worth approximately $432,000. Institutional investors own 92.30% of the company’s stock.

MTRX has been the topic of a number of analyst reports. Zacks Investment Research raised Matrix Service from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Saturday, February 2nd. DA Davidson initiated coverage on Matrix Service in a research report on Wednesday, March 13th. They issued a “neutral” rating and a $22.00 price target on the stock. Finally, BidaskClub cut Matrix Service from a “buy” rating to a “hold” rating in a research report on Friday, December 21st. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $36.67.

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Matrix Service Company Profile

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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