Franklin Resources Inc. Lowers Stock Holdings in Matrix Service (NASDAQ:MTRX)

Franklin Resources Inc. trimmed its holdings in Matrix Service (NASDAQ:MTRX - Free Report) by 28.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 247,461 shares of the company's stock after selling 96,019 shares during the period. Franklin Resources Inc. owned approximately 0.90% of Matrix Service worth $2,821,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in shares of Matrix Service during the 3rd quarter worth approximately $155,000. Barclays PLC boosted its position in shares of Matrix Service by 90.8% during the third quarter. Barclays PLC now owns 53,435 shares of the company's stock worth $616,000 after buying an additional 25,434 shares during the period. Geode Capital Management LLC grew its stake in shares of Matrix Service by 0.8% in the third quarter. Geode Capital Management LLC now owns 598,103 shares of the company's stock valued at $6,898,000 after buying an additional 4,709 shares in the last quarter. XTX Topco Ltd raised its holdings in shares of Matrix Service by 64.4% in the 3rd quarter. XTX Topco Ltd now owns 34,421 shares of the company's stock valued at $397,000 after buying an additional 13,489 shares during the period. Finally, Jane Street Group LLC lifted its stake in Matrix Service by 43.9% during the 3rd quarter. Jane Street Group LLC now owns 50,640 shares of the company's stock worth $584,000 after acquiring an additional 15,444 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company's stock.

Analysts Set New Price Targets

MTRX has been the topic of a number of recent research reports. StockNews.com upgraded shares of Matrix Service from a "hold" rating to a "buy" rating in a research note on Tuesday, December 10th. DA Davidson reiterated a "buy" rating and set a $18.00 target price on shares of Matrix Service in a report on Thursday, September 26th.

Matrix Service Trading Up 1.1 %

NASDAQ:MTRX traded up $0.13 during midday trading on Thursday, reaching $12.23. The company had a trading volume of 79,687 shares, compared to its average volume of 208,344. The stock's fifty day simple moving average is $12.47 and its 200-day simple moving average is $10.99. Matrix Service has a 12-month low of $8.61 and a 12-month high of $13.90. The firm has a market capitalization of $337.00 million, a price-to-earnings ratio of -10.92 and a beta of 1.27.

Matrix Service (NASDAQ:MTRX - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.01). The business had revenue of $165.58 million during the quarter, compared to analysts' expectations 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 period last year, the company earned ($0.21) EPS. As a group, sell-side analysts expect that Matrix Service will post -0.04 EPS for the current year.

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.