Royce & Associates LP Acquires 34,860 Shares of Matrix Service (NASDAQ:MTRX)

Royce & Associates LP boosted its position in shares of Matrix Service (NASDAQ:MTRX - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 898,122 shares of the company's stock after buying an additional 34,860 shares during the quarter. Royce & Associates LP owned approximately 3.26% of Matrix Service worth $10,751,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MTRX. Needham Investment Management LLC raised its position in shares of Matrix Service by 38.5% during the third quarter. Needham Investment Management LLC now owns 1,420,000 shares of the company's stock worth $16,373,000 after acquiring an additional 395,000 shares during the last quarter. Portolan Capital Management LLC raised its holdings in Matrix Service by 34.3% during the 3rd quarter. Portolan Capital Management LLC now owns 509,059 shares of the company's stock worth $5,869,000 after purchasing an additional 129,989 shares during the last quarter. Harvey Partners LLC lifted its position in Matrix Service by 8.2% during the 3rd 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. boosted its stake in shares of Matrix Service by 66.5% in the 4th 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 last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Matrix Service by 204.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 90,663 shares of the company's stock worth $1,045,000 after buying an additional 60,838 shares during the period. 78.38% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

MTRX has been the topic of several analyst reports. StockNews.com lowered shares of Matrix Service from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. DA Davidson upped their target price on shares of Matrix Service from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th.

Matrix Service Price Performance

Shares of Matrix Service stock traded down $0.60 during trading on Friday, hitting $12.49. 711,599 shares of the company were exchanged, compared to its average volume of 204,419. The firm has a market capitalization of $344.81 million, a P/E ratio of -10.24 and a beta of 1.11. The firm's fifty day moving average price is $13.64 and its 200 day moving average price is $12.51. Matrix Service has a 1-year low of $8.61 and a 1-year high of $15.75.

Matrix Service (NASDAQ:MTRX - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported ($0.20) EPS for the quarter, beating 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%. As a group, equities research analysts anticipate that Matrix Service will post -0.26 earnings per share for the current year.

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.