Royce & Associates LP Grows Stock Holdings in Matrix Service (NASDAQ:MTRX)

Royce & Associates LP grew its holdings in shares of Matrix Service (NASDAQ:MTRX) by 4.0% during the fourth quarter, HoldingsChannel reports. The firm owned 898,122 shares of the company’s stock after purchasing an additional 34,860 shares during the quarter. Royce & Associates LP’s holdings in Matrix Service were worth $10,751,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MTRX. Harvey Partners LLC lifted its position in Matrix Service by 8.2% during the third quarter. Harvey Partners LLC now owns 1,515,000 shares of the company’s stock worth $17,468,000 after buying an additional 115,000 shares during the period. Needham Investment Management LLC increased its stake in shares of Matrix Service by 38.5% during the 3rd quarter. Needham Investment Management LLC now owns 1,420,000 shares of the company’s stock valued at $16,373,000 after acquiring an additional 395,000 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Matrix Service by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 598,103 shares of the company’s stock worth $6,898,000 after acquiring an additional 4,709 shares during the period. Portolan Capital Management LLC boosted its position in shares of Matrix Service by 34.3% in the third quarter. Portolan Capital Management LLC now owns 509,059 shares of the company’s stock worth $5,869,000 after acquiring an additional 129,989 shares during the last quarter. Finally, State Street Corp grew its holdings in Matrix Service by 17.0% in the third quarter. State Street Corp now owns 384,173 shares of the company’s stock valued at $4,430,000 after purchasing an additional 55,691 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Matrix Service Stock Performance

MTRX opened at $12.94 on Tuesday. The company has a market cap of $357.23 million, a PE ratio of -10.61 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 firm has a 50 day moving average price of $13.61 and a 200 day moving average price of $12.47.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MTRX shares. DA Davidson lifted 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 downgraded Matrix Service from a “strong-buy” rating to a “buy” rating in a research 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.