Matrix Service (NASDAQ:MTRX) Shares Bought by State Street Corp

State Street Corp raised its stake in shares of Matrix Service (NASDAQ:MTRX) by 17.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 384,173 shares of the company’s stock after buying an additional 55,691 shares during the period. State Street Corp owned about 1.39% of Matrix Service worth $4,430,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MTRX. Quarry LP purchased a new position in Matrix Service during the third quarter valued at approximately $53,000. Quest Partners LLC purchased a new position in shares of Matrix Service during the 2nd quarter valued at approximately $83,000. BNP Paribas Financial Markets lifted its stake in shares of Matrix Service by 112.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company’s stock valued at $106,000 after purchasing an additional 4,860 shares during the period. SG Americas Securities LLC purchased a new stake in Matrix Service during the third quarter worth $108,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Matrix Service during the second quarter valued at $110,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Matrix Service Stock Performance

Matrix Service stock opened at $11.94 on Monday. The company’s fifty day moving average price is $12.49 and its 200 day moving average price is $11.01. The stock has a market capitalization of $329.01 million, a P/E ratio of -10.66 and a beta of 1.27. Matrix Service has a 1 year low of $8.61 and a 1 year high of $13.90.

Matrix Service (NASDAQ:MTRX) last announced its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.01). Matrix Service had a negative net margin of 4.46% and a negative return on equity of 19.56%. The company had revenue of $165.58 million during the quarter, compared to analyst estimates of $183.90 million. During the same quarter last year, the business earned ($0.21) EPS. Sell-side analysts predict that Matrix Service will post -0.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MTRX shares. StockNews.com upgraded shares of Matrix Service from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. DA Davidson reaffirmed a “buy” rating and issued a $18.00 price target on shares of Matrix Service in a report on Thursday, September 26th.

Matrix Service Company Profile

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.