Matrix Service Co (MTRX) COO Sells $788,228.10 in Stock

Matrix Service Co (NASDAQ:MTRX) COO Joseph F. Montalbano sold 34,785 shares of the company’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $22.66, for a total transaction of $788,228.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

NASDAQ MTRX opened at $25.75 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.50 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $634.22 million, a price-to-earnings ratio of 124.47 and a beta of 0.95. Matrix Service Co has a 12-month low of $12.76 and a 12-month high of $25.75.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Monday, September 10th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.04). The business had revenue of $293.10 million during the quarter, compared to the consensus estimate of $292.69 million. Matrix Service had a negative net margin of 1.05% and a positive return on equity of 1.58%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.04) EPS. research analysts forecast that Matrix Service Co will post 1.01 EPS for the current fiscal year.

A number of research analysts recently commented on the stock. Zacks Investment Research lowered shares of Matrix Service from a “hold” rating to a “strong sell” rating in a research note on Saturday. BidaskClub lowered shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 6th. ValuEngine lowered shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 2nd. Finally, Citigroup upped their price target on shares of Matrix Service from $37.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, July 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Matrix Service presently has a consensus rating of “Hold” and a consensus target price of $41.00.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Matrix Service by 8.0% in the 2nd quarter. BlackRock Inc. now owns 3,947,650 shares of the oil and gas company’s stock valued at $72,440,000 after purchasing an additional 290,833 shares during the period. Royce & Associates LP boosted its holdings in Matrix Service by 1.5% in the 2nd quarter. Royce & Associates LP now owns 932,856 shares of the oil and gas company’s stock valued at $17,118,000 after purchasing an additional 13,428 shares during the period. Russell Investments Group Ltd. boosted its holdings in Matrix Service by 60.3% in the 1st quarter. Russell Investments Group Ltd. now owns 876,364 shares of the oil and gas company’s stock valued at $12,005,000 after purchasing an additional 329,605 shares during the period. Northern Trust Corp boosted its holdings in Matrix Service by 0.6% in the 1st quarter. Northern Trust Corp now owns 777,631 shares of the oil and gas company’s stock valued at $10,654,000 after purchasing an additional 4,600 shares during the period. Finally, Rutabaga Capital Management LLC MA boosted its holdings in Matrix Service by 3.8% in the 2nd quarter. Rutabaga Capital Management LLC MA now owns 427,000 shares of the oil and gas company’s stock valued at $7,835,000 after purchasing an additional 15,600 shares during the period. 93.20% 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, 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, natural gas fired power stations, and renewable energy installations; and high voltage services comprising the construction of new substations, upgrading existing substations, short-run transmission line installations, distribution upgrades and maintenance, and storm restoration services to investor owned utilities.

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