Boston Partners Decreases Stock Position in Matrix Service (NASDAQ:MTRX)

Boston Partners cut its position in Matrix Service (NASDAQ:MTRX) by 26.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 55,550 shares of the company’s stock after selling 19,851 shares during the quarter. Boston Partners’ holdings in Matrix Service were worth $665,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in MTRX. Victory Capital Management Inc. boosted its stake in shares of Matrix Service by 4.3% in the third quarter. Victory Capital Management Inc. now owns 72,587 shares of the company’s stock valued at $837,000 after purchasing an additional 2,987 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Matrix Service by 44.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 166,302 shares of the company’s stock valued at $1,917,000 after acquiring an additional 51,433 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in Matrix Service by 2.9% in the third quarter. Dynamic Technology Lab Private Ltd now owns 56,498 shares of the company’s stock valued at $651,000 after acquiring an additional 1,573 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in 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 acquiring an additional 4,860 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in Matrix Service by 129.1% in the third quarter. MetLife Investment Management LLC now owns 15,519 shares of the company’s stock valued at $179,000 after acquiring an additional 8,744 shares in the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Matrix Service Stock Performance

Shares of NASDAQ:MTRX opened at $12.49 on Friday. The stock has a market capitalization of $344.81 million, a price-to-earnings ratio of -10.24 and a beta of 1.11. Matrix Service has a 1-year low of $8.61 and a 1-year high of $15.75. The company’s fifty day moving average is $13.64 and its two-hundred day moving average is $12.54.

Matrix Service (NASDAQ:MTRX) last issued its earnings results on Wednesday, February 5th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.02. Matrix Service had a negative net margin of 4.76% and a negative return on equity of 20.81%. Sell-side analysts expect that Matrix Service will post -0.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MTRX shares. DA Davidson upped their price target on shares of Matrix Service from $18.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. StockNews.com cut shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th.

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.