Matrix Service Co (MTRX) Stake Decreased by Bank of Montreal Can

Bank of Montreal Can lowered its stake in shares of Matrix Service Co (NASDAQ:MTRX) by 8.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 159,534 shares of the oil and gas company’s stock after selling 15,231 shares during the quarter. Bank of Montreal Can’s holdings in Matrix Service were worth $3,123,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Macquarie Group Ltd. grew its position in shares of Matrix Service by 167.9% during the fourth quarter. Macquarie Group Ltd. now owns 1,436 shares of the oil and gas company’s stock worth $26,000 after buying an additional 900 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of Matrix Service by 2,694.8% during the fourth quarter. Advisors Asset Management Inc. now owns 1,621 shares of the oil and gas company’s stock worth $29,000 after buying an additional 1,563 shares in the last quarter. Investors Research Corp acquired a new position in Matrix Service in the first quarter worth $63,000. BNP Paribas Arbitrage SA boosted its holdings in Matrix Service by 232.1% in the first quarter. BNP Paribas Arbitrage SA now owns 5,510 shares of the oil and gas company’s stock worth $108,000 after purchasing an additional 3,851 shares during the period. Finally, Municipal Employees Retirement System of Michigan acquired a new position in Matrix Service in the fourth quarter worth $139,000. 96.28% of the stock is owned by institutional investors and hedge funds.

In other news, VP Rick J. Bennett sold 2,300 shares of the business’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $21.00, for a total transaction of $48,300.00. Following the completion of the transaction, the vice president now owns 16,721 shares of the company’s stock, valued at $351,141. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James Harry Miller sold 1,825 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $22.25, for a total transaction of $40,606.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,434 shares of company stock valued at $561,009. 1.90% of the stock is currently owned by corporate insiders.

MTRX has been the subject of a number of research reports. Zacks Investment Research raised shares of Matrix Service from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Tuesday, January 22nd. DA Davidson initiated coverage on shares of Matrix Service in a report on Wednesday, March 13th. They issued a “neutral” rating and a $22.00 price objective for the company. Finally, BidaskClub downgraded shares of Matrix Service from a “buy” rating to a “hold” rating in a report on Saturday, March 30th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $36.67.

Matrix Service stock opened at $21.19 on Thursday. The firm has a market capitalization of $568.04 million, a price-to-earnings ratio of 141.27 and a beta of 1.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.43 and a quick ratio of 1.40. Matrix Service Co has a 12 month low of $15.43 and a 12 month high of $25.75.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. The firm had revenue of $358.89 million during the quarter, compared to the consensus estimate of $347.85 million. Matrix Service had a net margin of 0.04% and a return on equity of 4.93%. The firm’s revenue was up 46.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.19) earnings per share. On average, analysts anticipate that Matrix Service Co will post 0.97 earnings per share for the current fiscal 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.

Further Reading: Differences Between Momentum Investing and Long Term Investing

Want to see what other hedge funds are holding MTRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Matrix Service Co (NASDAQ:MTRX).

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

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