Matrix Service Company (MTRX) Stake Lifted by Vanguard Group Inc.
Vanguard Group Inc. lifted its holdings in shares of Matrix Service Company (NASDAQ:MTRX) by 6.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,492,327 shares of the oil and gas company’s stock after purchasing an additional 86,259 shares during the quarter. Vanguard Group Inc. owned 5.61% of Matrix Service worth $13,953,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Matrix Service by 11.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,052,540 shares of the oil and gas company’s stock worth $33,867,000 after purchasing an additional 206,944 shares in the last quarter. State Street Corp grew its holdings in shares of Matrix Service by 12.2% during the first quarter. State Street Corp now owns 838,988 shares of the oil and gas company’s stock worth $13,842,000 after purchasing an additional 90,999 shares in the last quarter. Boston Partners grew its holdings in shares of Matrix Service by 32.0% during the second quarter. Boston Partners now owns 740,510 shares of the oil and gas company’s stock worth $6,923,000 after purchasing an additional 179,480 shares in the last quarter. Northern Trust Corp lifted its position in Matrix Service by 35.8% in the 2nd quarter. Northern Trust Corp now owns 699,229 shares of the oil and gas company’s stock worth $6,537,000 after buying an additional 184,503 shares during the last quarter. Finally, Teachers Advisors LLC lifted its position in Matrix Service by 9.7% in the 1st quarter. Teachers Advisors LLC now owns 535,089 shares of the oil and gas company’s stock worth $8,829,000 after buying an additional 47,498 shares during the last quarter. 81.71% of the stock is owned by institutional investors.
A number of analysts recently weighed in on MTRX shares. ValuEngine downgraded Matrix Service from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. KeyCorp restated a “hold” rating on shares of Matrix Service in a research report on Monday, August 28th. Zacks Investment Research downgraded Matrix Service from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 14th. TheStreet upgraded Matrix Service from a “d+” rating to a “c-” rating in a research report on Monday, October 9th. Finally, BidaskClub upgraded Matrix Service from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $18.00.
Shares of Matrix Service Company (NASDAQ:MTRX) opened at $15.50 on Monday. Matrix Service Company has a 12-month low of $7.80 and a 12-month high of $23.45. The company has a quick ratio of 1.72, a current ratio of 1.74 and a debt-to-equity ratio of 0.13.
Matrix Service (NASDAQ:MTRX) last released its earnings results on Tuesday, November 7th. The oil and gas company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.08. The company had revenue of $269.91 million during the quarter, compared to the consensus estimate of $290.56 million. Matrix Service had a negative return on equity of 1.75% and a negative net margin of 0.51%. Matrix Service’s quarterly revenue was down 21.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS. analysts anticipate that Matrix Service Company will post 0.63 EPS for the current fiscal year.
Matrix Service 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 segments include Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.
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