California Public Employees Retirement System increased its position in Matrix Service Company (NASDAQ:MTRX) by 14.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,500 shares of the oil and gas company’s stock after buying an additional 12,800 shares during the period. California Public Employees Retirement System owned about 0.38% of Matrix Service worth $1,675,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased its stake in Matrix Service by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the oil and gas company’s stock worth $178,000 after buying an additional 100 shares in the last quarter. Wedbush Securities Inc. increased its stake in Matrix Service by 0.5% in the first quarter. Wedbush Securities Inc. now owns 27,481 shares of the oil and gas company’s stock worth $453,000 after buying an additional 148 shares in the last quarter. Arizona State Retirement System increased its stake in Matrix Service by 1.5% in the first quarter. Arizona State Retirement System now owns 13,848 shares of the oil and gas company’s stock worth $228,000 after buying an additional 200 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Matrix Service by 4.2% in the first quarter. Envestnet Asset Management Inc. now owns 7,793 shares of the oil and gas company’s stock worth $129,000 after buying an additional 315 shares in the last quarter. Finally, Nationwide Fund Advisors increased its stake in Matrix Service by 0.3% in the first quarter. Nationwide Fund Advisors now owns 116,642 shares of the oil and gas company’s stock worth $1,925,000 after buying an additional 352 shares in the last quarter. 91.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Matrix Service Company (NASDAQ MTRX) opened at 10.85 on Friday. The stock has a market cap of $288.61 million, a P/E ratio of 29.25 and a beta of 0.75. The firm has a 50 day moving average of $9.18 and a 200 day moving average of $13.66. Matrix Service Company has a one year low of $7.80 and a one year high of $23.45.
Matrix Service (NASDAQ:MTRX) last announced its quarterly earnings data on Tuesday, May 9th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.66. The business had revenue of $251.20 million during the quarter, compared to analyst estimates of $248.51 million. Matrix Service had a return on equity of 3.07% and a net margin of 0.78%. The business’s revenue for the quarter was down 18.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 EPS. On average, equities research analysts predict that Matrix Service Company will post ($0.01) EPS for the current fiscal year.
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Several analysts have issued reports on the stock. Zacks Investment Research raised shares of Matrix Service from a “sell” rating to a “hold” rating in a report on Saturday, April 15th. TheStreet downgraded shares of Matrix Service from a “c-” rating to a “d+” rating in a report on Wednesday, May 24th. ValuEngine downgraded shares of Matrix Service from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Stephens reaffirmed a “hold” rating on shares of Matrix Service in a report on Monday, May 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $20.00.
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 segments include Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.
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