Virginia Retirement Systems ET AL purchased a new position in Matrix Service Co. (NASDAQ:MTRX) during the second quarter, Holdings Channel reports. The institutional investor purchased 10,900 shares of the company’s stock, valued at approximately $180,000.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Matrix Service by 4.2% in the second quarter. Vanguard Group Inc. now owns 1,362,792 shares of the company’s stock worth $22,472,000 after buying an additional 55,160 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Matrix Service by 3.5% in the second quarter. Prudential Financial Inc. now owns 244,162 shares of the company’s stock worth $4,026,000 after buying an additional 8,320 shares in the last quarter. AJO LP acquired a new position in shares of Matrix Service during the second quarter worth approximately $1,317,000. Dimensional Fund Advisors LP increased its position in shares of Matrix Service by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,598,652 shares of the company’s stock worth $26,361,000 after buying an additional 37,447 shares in the last quarter. Finally, Systematic Financial Management LP increased its position in shares of Matrix Service by 8.3% in the second quarter. Systematic Financial Management LP now owns 99,975 shares of the company’s stock worth $1,648,000 after buying an additional 7,685 shares in the last quarter. 91.96% of the stock is currently owned by institutional investors.
Shares of Matrix Service Co. (NASDAQ:MTRX) opened at 18.81 on Thursday. The stock has a market cap of $498.84 million, a P/E ratio of 17.58 and a beta of 1.52. Matrix Service Co. has a 1-year low of $14.07 and a 1-year high of $25.07. The company’s 50-day moving average is $18.29 and its 200 day moving average is $17.30.
Matrix Service (NASDAQ:MTRX) last released its earnings results on Tuesday, August 30th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.04. The business had revenue of $359.60 million for the quarter. Matrix Service had a net margin of 2.20% and a return on equity of 10.47%. The business’s revenue was down 1.3% on a year-over-year basis. During the same period last year, the business earned $0.40 earnings per share. Equities research analysts anticipate that Matrix Service Co. will post $1.25 EPS for the current year.
A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Matrix Service from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 13th. TheStreet raised shares of Matrix Service from a “hold” rating to a “buy” rating in a research note on Friday, September 16th. Finally, DA Davidson reissued a “buy” rating and issued a $20.00 target price on shares of Matrix Service in a research note on Friday, August 26th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $24.33.
In related news, CEO John R. Hewitt sold 15,957 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $19.02, for a total transaction of $303,502.14. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider James P. Ryan sold 2,150 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $19.01, for a total transaction of $40,871.50. Following the transaction, the insider now directly owns 91,907 shares in the company, valued at $1,747,152.07. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.
About Matrix Service
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 Electrical Infrastructure segment primarily provides construction and maintenance services to a range of power generation facilities, such as combined cycle plants and renewable energy installations.