Franklin Resources Inc. Trims Position in Matrix Service (NASDAQ:MTRX)

Franklin Resources Inc. reduced its stake in shares of Matrix Service (NASDAQ:MTRX - Free Report) by 30.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 173,100 shares of the company's stock after selling 74,361 shares during the quarter. Franklin Resources Inc. owned 0.63% of Matrix Service worth $2,072,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. R Squared Ltd acquired a new stake in shares of Matrix Service during the 4th quarter valued at about $45,000. BNP Paribas Financial Markets boosted its position in Matrix Service by 112.9% during the third quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company's stock worth $106,000 after purchasing an additional 4,860 shares in the last quarter. SG Americas Securities LLC grew its holdings in Matrix Service by 18.4% in the fourth quarter. SG Americas Securities LLC now owns 11,123 shares of the company's stock valued at $133,000 after purchasing an additional 1,731 shares during the period. Virtu Financial LLC purchased a new stake in shares of Matrix Service in the third quarter valued at approximately $155,000. Finally, Verition Fund Management LLC raised its stake in shares of Matrix Service by 5.8% during the 3rd quarter. Verition Fund Management LLC now owns 22,639 shares of the company's stock worth $261,000 after buying an additional 1,239 shares during the period. 78.38% of the stock is owned by institutional investors and hedge funds.

Matrix Service Stock Up 1.4 %

Shares of Matrix Service stock traded up $0.15 during mid-day trading on Friday, reaching $10.86. 186,867 shares of the stock traded hands, compared to its average volume of 209,621. The business has a 50-day moving average of $12.34 and a 200 day moving average of $12.61. The stock has a market capitalization of $299.81 million, a PE ratio of -8.90 and a beta of 1.01. Matrix Service has a fifty-two week low of $8.61 and a fifty-two week high of $15.75.

Matrix Service (NASDAQ:MTRX - Get Free Report) last announced its earnings results 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%. On average, equities research analysts expect that Matrix Service will post -0.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MTRX. StockNews.com cut shares of Matrix Service from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. DA Davidson boosted their target price on shares of Matrix Service from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th.

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.