Matrix Service Co (NASDAQ:MTRX) COO Joseph F. Montalbano sold 6,036 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $20.00, for a total value of $120,720.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of MTRX stock traded down $0.86 during mid-day trading on Friday, hitting $18.54. The company’s stock had a trading volume of 5,327 shares, compared to its average volume of 162,267. The company’s fifty day simple moving average is $18.87 and its 200-day simple moving average is $19.70. Matrix Service Co has a 52 week low of $15.43 and a 52 week high of $25.75. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.40 and a current ratio of 1.51. The company has a market cap of $514.43 million, a PE ratio of 18.50 and a beta of 1.01.

Matrix Service (NASDAQ:MTRX) last issued its earnings results on Wednesday, August 28th. The oil and gas company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.04. The company had revenue of $398.71 million during the quarter, compared to the consensus estimate of $376.60 million. Matrix Service had a return on equity of 8.39% and a net margin of 1.98%. The firm’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same period last year, the business posted $0.03 EPS. On average, equities analysts anticipate that Matrix Service Co will post 1.6 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of Matrix Service by 109.5% during the fourth quarter. Bank of America Corp DE now owns 45,387 shares of the oil and gas company’s stock valued at $814,000 after buying an additional 23,724 shares during the last quarter. Virginia Retirement Systems ET AL boosted its stake in Matrix Service by 11.9% during the first quarter. Virginia Retirement Systems ET AL now owns 30,000 shares of the oil and gas company’s stock worth $587,000 after buying an additional 3,200 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Matrix Service by 232.1% during the first quarter. BNP Paribas Arbitrage SA now owns 5,510 shares of the oil and gas company’s stock worth $108,000 after buying an additional 3,851 shares during the period. SG Americas Securities LLC boosted its stake in Matrix Service by 79.7% during the first quarter. SG Americas Securities LLC now owns 15,344 shares of the oil and gas company’s stock worth $300,000 after buying an additional 6,807 shares during the period. Finally, Convergence Investment Partners LLC boosted its stake in Matrix Service by 8.3% during the first quarter. Convergence Investment Partners LLC now owns 12,058 shares of the oil and gas company’s stock worth $236,000 after buying an additional 919 shares during the period. Institutional investors own 95.68% of the company’s stock.

Several research analysts have recently weighed in on the company. ValuEngine lowered Matrix Service from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. DA Davidson raised Matrix Service from a “neutral” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Wednesday, August 7th. BidaskClub raised Matrix Service from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, Zacks Investment Research raised Matrix Service from a “sell” rating to a “strong-buy” rating and set a $22.00 price objective for the company in a research report on Thursday.

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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