Swiss National Bank continued to hold its stake in shares of Matrix Service Co. (NASDAQ:MTRX) during the second quarter, Holdings Channel reports. The fund owned 46,700 shares of the company’s stock at the end of the second quarter. Swiss National Bank owned approximately 0.18% of Matrix Service worth $770,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in MTRX. BNP Paribas Arbitrage SA boosted its position in Matrix Service by 93.2% in the second quarter. BNP Paribas Arbitrage SA now owns 8,641 shares of the company’s stock valued at $142,000 after buying an additional 4,168 shares during the period. Foundry Partners LLC boosted its position in Matrix Service by 18.8% in the second quarter. Foundry Partners LLC now owns 13,873 shares of the company’s stock valued at $229,000 after buying an additional 2,200 shares during the period. Royal Bank of Canada boosted its position in Matrix Service by 41.2% in the first quarter. Royal Bank of Canada now owns 13,737 shares of the company’s stock valued at $243,000 after buying an additional 4,007 shares during the period. Independent Portfolio Consultants Inc. boosted its position in Matrix Service by 54.9% in the second quarter. Independent Portfolio Consultants Inc. now owns 20,550 shares of the company’s stock valued at $339,000 after buying an additional 7,285 shares during the period. Finally, Nisa Investment Advisors L.L.C. boosted its position in Matrix Service by 34.2% in the first quarter. Nisa Investment Advisors L.L.C. now owns 30,200 shares of the company’s stock valued at $535,000 after buying an additional 7,700 shares during the period. 91.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Matrix Service Co. (NASDAQ:MTRX) traded down 2.67% on Friday, reaching $18.92. 129,570 shares of the company’s stock were exchanged. The firm has a market cap of $501.76 million, a PE ratio of 17.68 and a beta of 1.52. The company has a 50 day moving average price of $18.14 and a 200 day moving average price of $17.28. Matrix Service Co. has a one year low of $14.07 and a one year high of $25.88.
Matrix Service (NASDAQ:MTRX) last released its quarterly earnings results on Tuesday, August 30th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.04. The business earned $359.60 million during the quarter. Matrix Service had a return on equity of 10.47% and a net margin of 2.20%. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 earnings per share. Analysts expect that Matrix Service Co. will post $1.25 EPS for the current fiscal year.
Several research analysts recently weighed in on the stock. TheStreet upgraded shares of Matrix Service from a “hold” rating to a “buy” rating in a research report on Friday, September 16th. DA Davidson restated a “buy” rating and issued a $20.00 price objective on shares of Matrix Service in a research report on Friday, August 26th. Finally, Zacks Investment Research upgraded shares of Matrix Service from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 13th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $24.33.
In other news, VP Justin D. Sheets sold 2,100 shares of Matrix Service stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $18.71, for a total transaction of $39,291.00. Following the transaction, the vice president now directly owns 13,979 shares of the company’s stock, valued at approximately $261,547.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Kevin S. Cavanah sold 2,600 shares of Matrix Service stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $18.97, for a total value of $49,322.00. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
Matrix Service Company 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 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.