BlackRock Inc. Boosts Holdings in Matrix Service Co (MTRX)

BlackRock Inc. lifted its stake in Matrix Service Co (NASDAQ:MTRX) by 4.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,151,128 shares of the oil and gas company’s stock after acquiring an additional 158,353 shares during the period. BlackRock Inc. owned approximately 15.33% of Matrix Service worth $74,471,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in MTRX. Vanguard Group Inc. increased its position in Matrix Service by 1.6% in the third quarter. Vanguard Group Inc. now owns 1,555,834 shares of the oil and gas company’s stock worth $38,352,000 after purchasing an additional 24,818 shares during the period. Vanguard Group Inc increased its position in Matrix Service by 1.6% in the third quarter. Vanguard Group Inc now owns 1,555,834 shares of the oil and gas company’s stock worth $38,352,000 after purchasing an additional 24,818 shares during the period. AQR Capital Management LLC increased its position in Matrix Service by 13.5% in the third quarter. AQR Capital Management LLC now owns 701,567 shares of the oil and gas company’s stock worth $17,294,000 after purchasing an additional 83,631 shares during the period. Prudential Financial Inc. increased its position in Matrix Service by 20.0% in the fourth quarter. Prudential Financial Inc. now owns 558,255 shares of the oil and gas company’s stock worth $10,015,000 after purchasing an additional 93,014 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Matrix Service by 3.3% in the third quarter. Bank of New York Mellon Corp now owns 363,363 shares of the oil and gas company’s stock worth $8,956,000 after purchasing an additional 11,474 shares during the period. Institutional investors and hedge funds own 92.25% of the company’s stock.

In other news, VP Rick J. Bennett sold 2,300 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $21.00, for a total transaction of $48,300.00. Following the sale, the vice president now owns 16,721 shares in the company, valued at approximately $351,141. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alan R. Updyke sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $21.46, for a total value of $64,380.00. The disclosure for this sale can be found here. Insiders sold a total of 10,104 shares of company stock worth $213,622 in the last 90 days. Company insiders own 1.90% of the company’s stock.

MTRX has been the subject of several analyst reports. DA Davidson initiated coverage on Matrix Service in a research report on Wednesday, March 13th. They set a “neutral” rating and a $22.00 target price for the company. BidaskClub lowered Matrix Service from a “buy” rating to a “hold” rating in a research report on Saturday, March 30th. Finally, Zacks Investment Research lowered Matrix Service from a “buy” rating to a “hold” rating in a research report on Friday, February 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $36.67.

Shares of NASDAQ:MTRX traded down $0.36 during trading on Wednesday, hitting $19.85. 165,100 shares of the company’s stock traded hands, compared to its average volume of 150,445. Matrix Service Co has a 52 week low of $13.75 and a 52 week high of $25.75. The stock has a market capitalization of $529.98 million, a PE ratio of 132.33 and a beta of 1.09.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings data on Wednesday, February 6th. The oil and gas company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.02). The business had revenue of $340.60 million for the quarter, compared to the consensus estimate of $317.23 million. Matrix Service had a negative net margin of 1.14% and a positive return on equity of 0.94%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 EPS. Equities analysts anticipate that Matrix Service Co will post 0.93 earnings per share for the current year.

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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.

Further Reading: Market Capitalization and Individual Investors

Institutional Ownership by Quarter for Matrix Service (NASDAQ:MTRX)

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