Geode Capital Management LLC Increases Stock Holdings in Matrix Service (NASDAQ:MTRX)

Geode Capital Management LLC grew its stake in Matrix Service (NASDAQ:MTRX) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 599,302 shares of the company’s stock after purchasing an additional 1,199 shares during the period. Geode Capital Management LLC owned approximately 2.17% of Matrix Service worth $7,176,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MTRX. American Century Companies Inc. raised its holdings in Matrix Service by 523.3% during the fourth quarter. American Century Companies Inc. now owns 294,889 shares of the company’s stock worth $3,530,000 after purchasing an additional 247,578 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Matrix Service by 66.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 276,943 shares of the company’s stock worth $3,315,000 after purchasing an additional 110,641 shares during the period. WINTON GROUP Ltd increased its position in Matrix Service by 355.1% during the 4th quarter. WINTON GROUP Ltd now owns 80,199 shares of the company’s stock worth $960,000 after purchasing an additional 62,578 shares during the period. JPMorgan Chase & Co. raised its stake in shares of 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 buying an additional 60,838 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Matrix Service by 17.0% in the 3rd quarter. State Street Corp now owns 384,173 shares of the company’s stock valued at $4,430,000 after buying an additional 55,691 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MTRX shares. DA Davidson upped their price objective on Matrix Service from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. StockNews.com cut shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th.

Matrix Service Trading Up 4.1 %

Shares of Matrix Service stock opened at $11.56 on Friday. The company has a 50-day moving average of $12.00 and a two-hundred day moving average of $12.59. Matrix Service has a 12-month low of $8.61 and a 12-month high of $15.75. The stock has a market cap of $319.14 million, a PE ratio of -9.48 and a beta of 1.01.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.20) earnings per share for the quarter, beating 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%. On average, sell-side 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.