The value of the company's investment in Matrix Service Company decreased from $1,718,000 to $992,000 a change of 42.3% quarter to quarter. Prudential Financial Inc. owned 0.42% of Matrix Service worth $1,039,000 as of its most recent SEC filing. The firm owned 68,247 shares of the oil and gas company's stock after purchasing an additional 53,157 shares during the period. The value of the investment in Matrix Service Company went from $19,000 to $7,000 decreasing 63.2% since the last quarter. Quadrant Capital Group LLC claims 809 shares worth $7,000. Mason Street Advisors LLC now owns 6,219 shares of the oil and gas company's stock worth $103,000 after acquiring an additional 421 shares during the period. Investment Advisors LP now owns 904,271 shares of the oil and gas company's stock valued at $8,455,000 after purchasing an additional 441,659 shares during the period. Envestnet Asset Management Inc. lifted its stake in Matrix Service by 4.2% in the first quarter.
As of quarter end Chartwell Investment Partners, LLC had bought 2,000 shares growing its position 1.9%. LLC purchased a new stake in shares of Matrix Service during the fourth quarter valued at approximately $1,026,000. The company's revenue for the quarter was down 18.9% compared to the same quarter past year. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of ($0.02) by ($0.02). Institutional investors own 85.17% of the company's stock.
Matrix Service Company (NASDAQ:MTRX) opened at 13.825 on Friday. The company's market capitalization is $369.43 million. The firm's 50-day moving average price is $13.91 and its 200 day moving average price is $11.67.
A number of research analysts recently weighed in on MTRX shares. Zacks Investment Research downgraded Matrix Service from a "hold" rating to a "sell" rating in a report on Tuesday, July 18th. Finally, BidaskClub upgraded shares of Matrix Service from a "sell" rating to a "hold" rating in a research report on Saturday, August 5th.
Matrix Service (NASDAQ:MTRX) last announced its quarterly earnings data on Wednesday, September 6th. Matrix Service had a negative return on equity of 0.06% and a negative net margin of 0.02%. KeyCorp reiterated a "hold" rating on shares of Matrix Service in a report on Monday, August 28th. Three analysts have rated the stock with a sell rating and three have given a hold rating to the company. During the same period previous year, the firm posted $0.16 EPS. The business had revenue of $251.20 million during the quarter, compared to analysts' expectations of $248.51 million. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The company now has a consensus rating of "Hold". The business's revenue was down 18.9% on a year-over-year basis. Equities research analysts anticipate that Matrix Service Company will post $0.60 earnings per share for the current fiscal year. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & worldwide copyright and trademark law. The legal version of this piece of content can be viewed at https://www.dispatchtribunal.com/2017/10/15/matrix-service-company-mtrx-stake-lowered-by-prudential-financial-inc.html.
Matrix Service Company, launched on October 13, 1989, is involved in providing engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company's segments include Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.
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