Matrix Service Co (MTRX) Holdings Trimmed by California Public Employees Retirement System

California Public Employees Retirement System lessened its holdings in Matrix Service Co (NASDAQ:MTRX) by 38.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 80,559 shares of the oil and gas company’s stock after selling 49,954 shares during the period. California Public Employees Retirement System’s holdings in Matrix Service were worth $1,478,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MTRX. BlackRock Inc. boosted its holdings in Matrix Service by 8.0% in the second quarter. BlackRock Inc. now owns 3,947,650 shares of the oil and gas company’s stock worth $72,440,000 after acquiring an additional 290,833 shares in the last quarter. Millennium Management LLC acquired a new stake in Matrix Service in the second quarter worth about $2,807,000. Systematic Financial Management LP acquired a new stake in Matrix Service in the second quarter worth about $1,407,000. FMR LLC boosted its holdings in Matrix Service by 319.3% in the second quarter. FMR LLC now owns 95,338 shares of the oil and gas company’s stock worth $1,749,000 after acquiring an additional 72,600 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Matrix Service by 78.4% in the first quarter. JPMorgan Chase & Co. now owns 103,354 shares of the oil and gas company’s stock worth $1,416,000 after acquiring an additional 45,413 shares in the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.

In other news, COO Joseph F. Montalbano sold 34,785 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $22.66, for a total value of $788,228.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bradley J. Rinehart sold 1,116 shares of the firm’s stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of $24.65, for a total value of $27,509.40. Following the completion of the transaction, the insider now owns 65,167 shares of the company’s stock, valued at $1,606,366.55. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,266 shares of company stock valued at $2,369,773. Company insiders own 1.90% of the company’s stock.

MTRX has been the subject of several recent analyst reports. BidaskClub downgraded Matrix Service from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 19th. Zacks Investment Research downgraded Matrix Service from a “hold” rating to a “strong sell” rating in a report on Saturday, September 15th. Finally, ValuEngine downgraded Matrix Service from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th.

Shares of NASDAQ MTRX opened at $20.58 on Friday. The stock has a market capitalization of $555.85 million, a price-to-earnings ratio of 137.20 and a beta of 1.01. Matrix Service Co has a fifty-two week low of $13.00 and a fifty-two week high of $25.75.

Matrix Service (NASDAQ:MTRX) last announced its quarterly earnings data on Monday, September 10th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.04). Matrix Service had a positive return on equity of 1.58% and a negative net margin of 1.05%. The firm had revenue of $293.10 million during the quarter, compared to analysts’ expectations of $292.69 million. During the same quarter in the previous year, the business earned ($0.04) earnings per share. The company’s revenue for the quarter was up .4% compared to the same quarter last year. Sell-side analysts forecast that Matrix Service Co will post 1.01 EPS for the current year.

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

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