Russell Investments Group Ltd. Has $2.94 Million Stake in Matrix Service (NASDAQ:MTRX)

Russell Investments Group Ltd. boosted its position in shares of Matrix Service (NASDAQ:MTRX - Free Report) by 21.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 245,828 shares of the company's stock after purchasing an additional 43,612 shares during the quarter. Russell Investments Group Ltd. owned about 0.89% of Matrix Service worth $2,943,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in shares of Matrix Service by 2.7% during the fourth quarter. Rhumbline Advisers now owns 39,725 shares of the company's stock worth $475,000 after buying an additional 1,028 shares during the last quarter. SG Americas Securities LLC grew its holdings in Matrix Service by 18.4% during the 4th quarter. SG Americas Securities LLC now owns 11,123 shares of the company's stock worth $133,000 after acquiring an additional 1,731 shares during the period. Money Concepts Capital Corp raised its position in shares of Matrix Service by 1.7% during the 4th quarter. Money Concepts Capital Corp now owns 108,057 shares of the company's stock valued at $1,293,000 after acquiring an additional 1,790 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Matrix Service by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 75,843 shares of the company's stock valued at $908,000 after purchasing an additional 2,576 shares during the period. Finally, Saturna Capital Corp boosted its position in shares of Matrix Service by 10.1% in the 4th quarter. Saturna Capital Corp now owns 32,694 shares of the company's stock worth $391,000 after purchasing an additional 3,000 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Matrix Service Price Performance

Shares of NASDAQ MTRX traded up $0.61 during midday trading on Wednesday, reaching $11.32. 34,423 shares of the stock were exchanged, compared to its average volume of 210,222. Matrix Service has a 12 month low of $8.61 and a 12 month high of $15.75. The business has a 50-day simple moving average of $12.15 and a two-hundred day simple moving average of $12.60. The company has a market capitalization of $312.51 million, a price-to-earnings ratio of -9.28 and a beta of 1.01.

Matrix Service (NASDAQ:MTRX - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported ($0.20) earnings per share 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%. Equities research analysts expect that Matrix Service will post -0.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Matrix Service 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.