Wells Fargo & Company MN Raises Stock Position in Matrix Service (NASDAQ:MTRX)

Wells Fargo & Company MN lifted its holdings in Matrix Service (NASDAQ:MTRX) by 25.6% in the fourth quarter, HoldingsChannel reports. The firm owned 16,569 shares of the company’s stock after buying an additional 3,382 shares during the quarter. Wells Fargo & Company MN’s holdings in Matrix Service were worth $198,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Royce & Associates LP grew its stake in shares of Matrix Service by 4.0% in the fourth quarter. Royce & Associates LP now owns 898,122 shares of the company’s stock worth $10,751,000 after acquiring an additional 34,860 shares in the last quarter. American Century Companies Inc. raised its position in Matrix Service by 523.3% in the 4th quarter. American Century Companies Inc. now owns 294,889 shares of the company’s stock valued at $3,530,000 after purchasing an additional 247,578 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Matrix Service by 66.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 276,943 shares of the company’s stock worth $3,315,000 after buying an additional 110,641 shares in the last quarter. Trexquant Investment LP increased its stake in shares of Matrix Service by 20.1% during the fourth quarter. Trexquant Investment LP now owns 116,293 shares of the company’s stock worth $1,392,000 after buying an additional 19,456 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Matrix Service by 21.5% in the fourth quarter. JPMorgan Chase & Co. now owns 110,181 shares of the company’s stock worth $1,319,000 after acquiring an additional 19,518 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. DA Davidson raised 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. StockNews.com cut Matrix Service from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th.

Matrix Service Trading Up 11.5 %

NASDAQ:MTRX opened at $13.67 on Friday. Matrix Service has a 12-month low of $8.61 and a 12-month high of $15.75. The stock’s 50 day simple moving average is $11.75 and its 200-day simple moving average is $12.64. The firm has a market cap of $377.25 million, a P/E ratio of -11.20 and a beta of 1.04.

Matrix Service (NASDAQ:MTRX) last released its earnings results on Wednesday, May 7th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.07). Matrix Service had a negative return on equity of 20.81% and a negative net margin of 4.76%. The firm had revenue of $200.16 million during the quarter, compared to analyst estimates of $215.06 million. Research analysts forecast that Matrix Service will post -0.26 EPS for the current fiscal 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.