New York State Teachers Retirement System cut its holdings in Matrix Service Co (NASDAQ:MTRX) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 83,178 shares of the oil and gas company’s stock after selling 2,781 shares during the quarter. New York State Teachers Retirement System owned approximately 0.32% of Matrix Service worth $808,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in MTRX. Virginia Retirement Systems ET AL increased its position in Matrix Service by 4.2% in the first quarter. Virginia Retirement Systems ET AL now owns 29,800 shares of the oil and gas company’s stock worth $282,000 after purchasing an additional 1,200 shares during the period. Swiss National Bank increased its position in Matrix Service by 2.7% in the first quarter. Swiss National Bank now owns 52,700 shares of the oil and gas company’s stock worth $499,000 after purchasing an additional 1,400 shares during the period. BNP Paribas Arbitrage SA increased its position in Matrix Service by 18.6% in the first quarter. BNP Paribas Arbitrage SA now owns 10,710 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 1,676 shares during the period. Foundry Partners LLC increased its position in Matrix Service by 1.5% in the first quarter. Foundry Partners LLC now owns 201,705 shares of the oil and gas company’s stock worth $1,910,000 after purchasing an additional 2,885 shares during the period. Finally, Credit Suisse AG increased its position in Matrix Service by 17.5% in the fourth quarter. Credit Suisse AG now owns 19,499 shares of the oil and gas company’s stock worth $447,000 after purchasing an additional 2,903 shares during the period. Institutional investors own 95.05% of the company’s stock.
Shares of MTRX opened at $8.76 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.62 and a debt-to-equity ratio of 0.10. Matrix Service Co has a 1 year low of $7.11 and a 1 year high of $24.36. The stock has a market cap of $228.86 million, a P/E ratio of -15.63 and a beta of 1.42. The stock’s 50-day moving average price is $9.48 and its two-hundred day moving average price is $11.65.
Matrix Service (NASDAQ:MTRX) last issued its earnings results on Wednesday, May 6th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.10). Matrix Service had a positive return on equity of 7.08% and a negative net margin of 1.12%. The company had revenue of $248.33 million for the quarter. As a group, equities analysts forecast that Matrix Service Co will post 0.5 EPS for the current year.
A number of analysts recently commented on MTRX shares. ValuEngine upgraded Matrix Service from a “sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Zacks Investment Research upgraded Matrix Service from a “sell” rating to a “hold” rating in a research report on Thursday, July 9th. Finally, BidaskClub upgraded Matrix Service from a “sell” rating to a “hold” rating in a report on Friday, May 29th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Matrix Service presently has a consensus rating of “Hold” and a consensus price target of $22.33.
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.
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