Matrix Service (NASDAQ:MTRX) Shares Sold by Boston Partners

Boston Partners lessened its position in Matrix Service (NASDAQ:MTRX) by 26.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,550 shares of the company’s stock after selling 19,851 shares during the period. Boston Partners owned about 0.20% of Matrix Service worth $665,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MTRX. Needham Investment Management LLC raised its position in shares of Matrix Service by 38.5% in the third quarter. Needham Investment Management LLC now owns 1,420,000 shares of the company’s stock valued at $16,373,000 after buying an additional 395,000 shares during the last quarter. Portolan Capital Management LLC grew its holdings in Matrix Service by 34.3% in the third quarter. Portolan Capital Management LLC now owns 509,059 shares of the company’s stock valued at $5,869,000 after purchasing an additional 129,989 shares during the period. Harvey Partners LLC grew its holdings in Matrix Service by 8.2% in the third quarter. Harvey Partners LLC now owns 1,515,000 shares of the company’s stock valued at $17,468,000 after purchasing an additional 115,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Matrix Service by 66.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 276,943 shares of the company’s stock valued at $3,315,000 after purchasing an additional 110,641 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Matrix Service by 204.0% in the third quarter. JPMorgan Chase & Co. now owns 90,663 shares of the company’s stock valued at $1,045,000 after purchasing an additional 60,838 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Matrix Service Stock Down 4.6 %

MTRX opened at $12.49 on Friday. Matrix Service has a 52-week low of $8.61 and a 52-week high of $15.75. The company has a 50 day moving average of $13.64 and a two-hundred day moving average of $12.54. The company has a market cap of $344.81 million, a P/E ratio of -10.24 and a beta of 1.11.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Research analysts anticipate that Matrix Service will post -0.26 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. StockNews.com downgraded shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. DA Davidson boosted their target price 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.

About Matrix Service

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.