Prudential Financial Inc. Has $3.36 Million Stock Position in Matrix Service Company $MTRX

by · The Markets Daily

Prudential Financial Inc. increased its stake in Matrix Service Company (NASDAQ:MTRX – Free Report) by 30.3% during the second quarter, Holdings Channel reports. The firm owned 248,417 shares of the company’s stock after acquiring an additional 57,822 shares during the period. Prudential Financial Inc.’s holdings in Matrix Service were worth $3,356,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MTRX. Brooklyn Investment Group grew its stake in Matrix Service by 2,026.3% during the first quarter. Brooklyn Investment Group now owns 3,402 shares of the company’s stock worth $42,000 after buying an additional 3,242 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Matrix Service during the 1st quarter worth approximately $73,000. Creative Planning acquired a new stake in shares of Matrix Service during the 2nd quarter worth approximately $176,000. Y Intercept Hong Kong Ltd bought a new position in Matrix Service in the second quarter valued at approximately $183,000. Finally, Almanack Investment Partners LLC. acquired a new position in Matrix Service during the second quarter valued at approximately $204,000. Institutional investors own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MTRX shares. DA Davidson reaffirmed a “buy” rating and issued a $17.00 target price on shares of Matrix Service in a report on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Matrix Service in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Matrix Service currently has a consensus rating of “Hold” and an average price target of $17.00.

Get Our Latest Stock Report on MTRX

Matrix Service Stock Performance

Shares of NASDAQ:MTRX opened at $11.33 on Wednesday. Matrix Service Company has a 52-week low of $9.33 and a 52-week high of $16.10. The company has a market capitalization of $318.66 million, a PE ratio of -10.79, a price-to-earnings-growth ratio of 1.23 and a beta of 0.96. The company has a fifty day moving average of $12.83 and a 200-day moving average of $13.42.

Matrix Service (NASDAQ:MTRX – Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $211.88 million for the quarter, compared to analyst estimates of $206.66 million. Matrix Service had a negative return on equity of 17.21% and a negative net margin of 3.83%. On average, equities analysts forecast that Matrix Service Company will post -0.26 EPS for the current fiscal year.

Insider Activity

In other Matrix Service news, Director John D. Chandler bought 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The shares were acquired at an average cost of $12.74 per share, for a total transaction of $29,302.00. Following the transaction, the director directly owned 78,053 shares in the company, valued at approximately $994,395.22. This represents a 3.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shawn P. Payne sold 5,231 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $11.42, for a total transaction of $59,738.02. Following the completion of the transaction, the insider owned 102,179 shares of the company’s stock, valued at approximately $1,166,884.18. This trade represents a 4.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 16,500 shares of company stock worth $198,000. Company insiders own 4.40% of the company’s stock.

About Matrix Service

(Free Report)

Matrix Service Company provides engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets in the United States, Canada, and internationally. It operates through three segments: Utility and Power Infrastructure; Process and Industrial Facilities; and Storage and Terminal Solutions.

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