Credit Suisse AG lowered its holdings in Matrix Service Co (NASDAQ:MTRX) by 24.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,649 shares of the oil and gas company’s stock after selling 7,975 shares during the period. Credit Suisse AG owned approximately 0.09% of Matrix Service worth $607,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Public Employees Retirement System of Ohio grew its stake in Matrix Service by 78.5% during the second quarter. Public Employees Retirement System of Ohio now owns 7,303 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 3,211 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Matrix Service during the third quarter valued at approximately $227,000. Palouse Capital Management Inc. purchased a new position in Matrix Service during the third quarter valued at approximately $234,000. ClariVest Asset Management LLC grew its stake in Matrix Service by 30.3% during the third quarter. ClariVest Asset Management LLC now owns 10,313 shares of the oil and gas company’s stock valued at $254,000 after acquiring an additional 2,399 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its stake in Matrix Service by 29.6% during the third quarter. Meeder Asset Management Inc. now owns 10,932 shares of the oil and gas company’s stock valued at $270,000 after acquiring an additional 2,496 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.
A number of equities analysts have commented on the stock. BidaskClub cut shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 3rd. Zacks Investment Research raised shares of Matrix Service from a “sell” rating to a “hold” rating in a research note on Wednesday, November 14th. Finally, ValuEngine raised shares of Matrix Service from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 2nd.
MTRX stock opened at $19.47 on Friday. Matrix Service Co has a one year low of $13.00 and a one year high of $25.75. The company has a market capitalization of $526.28 million, a price-to-earnings ratio of 129.67 and a beta of 1.02.
Matrix Service (NASDAQ:MTRX) last released its quarterly earnings results on Wednesday, November 7th. The oil and gas company reported $0.08 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.08. Matrix Service had a negative net margin of 1.14% and a positive return on equity of 1.12%. The business had revenue of $318.50 million during the quarter, compared to analysts’ expectations of $294.82 million. During the same quarter in the previous year, the company earned $0.14 EPS. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, sell-side analysts expect that Matrix Service Co will post 1.01 earnings per share for the current year.
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Matrix Service 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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