Barclays PLC Acquires 25,434 Shares of Matrix Service (NASDAQ:MTRX)

Barclays PLC boosted its holdings in Matrix Service (NASDAQ:MTRX) by 90.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,435 shares of the company’s stock after acquiring an additional 25,434 shares during the period. Barclays PLC owned 0.19% of Matrix Service worth $616,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its holdings in shares of Matrix Service by 112.9% in the third 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 last quarter. State Street Corp boosted its holdings in shares of Matrix Service by 17.0% during the 3rd quarter. State Street Corp now owns 384,173 shares of the company’s stock worth $4,430,000 after buying an additional 55,691 shares during the period. Jane Street Group LLC grew its stake in Matrix Service by 43.9% in the 3rd quarter. Jane Street Group LLC now owns 50,640 shares of the company’s stock valued at $584,000 after buying an additional 15,444 shares during the last quarter. Harvey Partners LLC raised its holdings in Matrix Service by 8.2% in the 3rd quarter. Harvey Partners LLC now owns 1,515,000 shares of the company’s stock valued at $17,468,000 after acquiring an additional 115,000 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Matrix Service by 44.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 166,302 shares of the company’s stock worth $1,917,000 after acquiring an additional 51,433 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Matrix Service Stock Up 6.8 %

NASDAQ MTRX opened at $14.34 on Friday. The firm has a 50-day moving average price of $12.79 and a two-hundred day moving average price of $11.23. Matrix Service has a 12-month low of $8.61 and a 12-month high of $14.50. The company has a market capitalization of $395.21 million, a P/E ratio of -12.80 and a beta of 1.28.

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

Matrix Service 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.