Bank of America Corp DE boosted its position in Matrix Service Co (NASDAQ:MTRX) by 109.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,387 shares of the oil and gas company’s stock after buying an additional 23,724 shares during the quarter. Bank of America Corp DE’s holdings in Matrix Service were worth $814,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of MTRX. Advisors Asset Management Inc. lifted its holdings in Matrix Service by 2,694.8% in the 4th quarter. Advisors Asset Management Inc. now owns 1,621 shares of the oil and gas company’s stock worth $29,000 after buying an additional 1,563 shares in the last quarter. Oregon Public Employees Retirement Fund acquired a new position in Matrix Service in the 4th quarter worth $185,000. Convergence Investment Partners LLC acquired a new position in Matrix Service in the 4th quarter worth $200,000. Nisa Investment Advisors LLC lifted its holdings in Matrix Service by 13.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,900 shares of the oil and gas company’s stock worth $213,000 after buying an additional 1,400 shares in the last quarter. Finally, Tibra Equities Europe Ltd acquired a new position in Matrix Service in the 4th quarter worth $221,000. Hedge funds and other institutional investors own 96.28% of the company’s stock.
Shares of Matrix Service stock opened at $21.19 on Thursday. The stock has a market capitalization of $568.04 million, a PE ratio of 141.27 and a beta of 1.07. The company has a current ratio of 1.43, a quick ratio of 1.40 and a debt-to-equity ratio of 0.01. Matrix Service Co has a 1 year low of $15.43 and a 1 year high of $25.75.
Matrix Service (NASDAQ:MTRX) last issued its earnings results on Wednesday, May 8th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The business had revenue of $358.89 million for the quarter, compared to analyst estimates of $347.85 million. Matrix Service had a net margin of 0.04% and a return on equity of 4.93%. The company’s revenue for the quarter was up 46.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.19) EPS. Sell-side analysts forecast that Matrix Service Co will post 0.97 earnings per share for the current year.
In other news, VP Rick J. Bennett sold 2,884 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $21.02, for a total value of $60,621.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Rick J. Bennett sold 2,300 shares of the business’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $21.00, for a total transaction of $48,300.00. Following the sale, the vice president now directly owns 16,721 shares of the company’s stock, valued at approximately $351,141. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,434 shares of company stock worth $561,009. Company insiders own 1.90% of the company’s stock.
MTRX has been the topic of a number of recent analyst reports. DA Davidson initiated coverage on shares of Matrix Service in a report on Wednesday, March 13th. They issued a “neutral” rating and a $22.00 price objective on the stock. BidaskClub lowered shares of Matrix Service from a “buy” rating to a “hold” rating in a report on Saturday, March 30th. Finally, Zacks Investment Research lowered shares of Matrix Service from a “buy” rating to a “hold” rating in a research note on Friday, February 1st. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $36.67.
Matrix Service Company Profile
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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