Stanley Laman Group Ltd. Decreases Stock Holdings in Matrix Service (NASDAQ:MTRX)

Stanley Laman Group Ltd. lowered its stake in shares of Matrix Service (NASDAQ:MTRX - Free Report) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 316,248 shares of the company's stock after selling 19,196 shares during the quarter. Stanley Laman Group Ltd. owned 1.15% of Matrix Service worth $3,785,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. increased its holdings in 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 purchasing an additional 60,838 shares during the period. Barclays PLC grew 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 in the last quarter. BNP Paribas Financial Markets increased its stake in shares of 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 buying an additional 4,860 shares during the period. State Street Corp raised its holdings in Matrix Service by 17.0% in the third quarter. State Street Corp now owns 384,173 shares of the company's stock valued at $4,430,000 after acquiring an additional 55,691 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in Matrix Service by 43.9% in the third 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 during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Matrix Service Price Performance

Shares of MTRX traded down $0.16 during mid-day trading on Monday, reaching $15.20. 180,075 shares of the company's stock were exchanged, compared to its average volume of 214,635. The business's fifty day simple moving average is $13.41 and its 200-day simple moving average is $11.96. The stock has a market capitalization of $418.91 million, a PE ratio of -12.46 and a beta of 1.28. Matrix Service has a 52-week low of $8.61 and a 52-week high of $15.75.

Matrix Service (NASDAQ:MTRX - Get Free Report) last issued its quarterly earnings data 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%. Equities research analysts predict that Matrix Service will post -0.04 earnings per share for the current year.

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.