Boston Partners Increases Stake in Matrix Service (NASDAQ:MTRX)

Boston Partners raised its stake in shares of Matrix Service (NASDAQ:MTRXGet Rating) by 196.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 455,645 shares of the oil and gas company’s stock after buying an additional 301,714 shares during the quarter. Boston Partners owned about 1.70% of Matrix Service worth $3,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of MTRX. Royal Bank of Canada grew its holdings in shares of Matrix Service by 48.7% in the second quarter. Royal Bank of Canada now owns 3,284 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 1,075 shares in the last quarter. UBS Group AG lifted its position in Matrix Service by 98.0% in the third quarter. UBS Group AG now owns 5,415 shares of the oil and gas company’s stock worth $57,000 after buying an additional 2,680 shares during the last quarter. Metropolitan Life Insurance Co NY bought a new stake in Matrix Service in the third quarter worth $75,000. Allspring Global Investments Holdings LLC bought a new stake in Matrix Service in the fourth quarter worth $87,000. Finally, Maryland State Retirement & Pension System bought a new stake in Matrix Service in the third quarter worth $112,000. 77.58% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:MTRX opened at $6.98 on Tuesday. Matrix Service has a twelve month low of $6.18 and a twelve month high of $14.05. The company has a market cap of $186.95 million, a price-to-earnings ratio of -2.81 and a beta of 1.67. The stock has a fifty day simple moving average of $7.61 and a 200-day simple moving average of $8.37.

Matrix Service (NASDAQ:MTRXGet Rating) last released its quarterly earnings data on Monday, February 7th. The oil and gas company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.10). The firm had revenue of $161.97 million during the quarter. Matrix Service had a negative net margin of 10.11% and a negative return on equity of 17.65%. During the same period in the prior year, the firm earned ($0.03) EPS. On average, analysts forecast that Matrix Service will post -1.17 EPS for the current fiscal year.

A number of analysts recently issued reports on MTRX shares. StockNews.com assumed coverage on Matrix Service in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research upgraded Matrix Service from a “sell” rating to a “hold” rating in a research report on Wednesday, April 13th.

In other news, VP Kevin A. Durkin acquired 7,800 shares of the firm’s stock in a transaction that occurred on Monday, February 14th. The stock was purchased at an average cost of $6.36 per share, for a total transaction of $49,608.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.80% of the company’s stock.

Matrix Service Company Profile (Get Rating)

Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, mining, and minerals markets in the United States, Canada, South Korea, Australia, and internationally. It operates through three segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions.

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Institutional Ownership by Quarter for Matrix Service (NASDAQ:MTRX)

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