Matrix Service (NASDAQ:MTRX) Shares Purchased by State Street Corp

State Street Corp lifted its position in Matrix Service (NASDAQ:MTRX - Free Report) by 17.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 384,173 shares of the company's stock after purchasing an additional 55,691 shares during the period. State Street Corp owned 1.39% of Matrix Service worth $4,430,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of Matrix Service by 12.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 575,428 shares of the company's stock worth $5,714,000 after buying an additional 65,902 shares during the period. Rhumbline Advisers raised its holdings in shares of Matrix Service by 2,174.7% in the second quarter. Rhumbline Advisers now owns 36,395 shares of the company's stock valued at $361,000 after acquiring an additional 34,795 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Matrix Service by 4.3% in the second quarter. Victory Capital Management Inc. now owns 69,600 shares of the company's stock worth $691,000 after acquiring an additional 2,900 shares during the period. Quest Partners LLC bought a new position in Matrix Service during the 2nd quarter worth about $83,000. Finally, American Century Companies Inc. increased its position in Matrix Service by 13.4% during the 2nd quarter. American Century Companies Inc. now owns 37,714 shares of the company's stock valued at $374,000 after purchasing an additional 4,452 shares during the period. Institutional investors own 78.38% of the company's stock.

Matrix Service Stock Performance

MTRX stock traded up $0.09 during trading on Monday, reaching $12.03. 109,596 shares of the company traded hands, compared to its average volume of 207,428. The business has a 50 day simple moving average of $12.50 and a 200 day simple moving average of $11.01. Matrix Service has a 12 month low of $8.61 and a 12 month high of $13.90. The company has a market capitalization of $331.49 million, a price-to-earnings ratio of -10.74 and a beta of 1.27.

Matrix Service (NASDAQ:MTRX - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.01). The firm had revenue of $165.58 million during the quarter, compared to the consensus estimate of $183.90 million. Matrix Service had a negative net margin of 4.46% and a negative return on equity of 19.56%. During the same quarter in the prior year, the business posted ($0.21) earnings per share. As a group, research analysts forecast that Matrix Service will post -0.04 EPS for the current year.

Analysts Set New Price Targets

MTRX has been the subject of several research reports. DA Davidson reaffirmed a "buy" rating and issued a $18.00 price target on shares of Matrix Service in a research report on Thursday, September 26th. StockNews.com upgraded Matrix Service from a "hold" rating to a "buy" rating in a report on Tuesday, December 10th.

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.