Invesco Ltd. Lowers Holdings in Matrix Service (NASDAQ:MTRX)

Invesco Ltd. decreased its position in Matrix Service (NASDAQ:MTRX) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,849 shares of the company’s stock after selling 5,358 shares during the period. Invesco Ltd. owned approximately 0.34% of Matrix Service worth $1,135,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MTRX. R Squared Ltd purchased a new stake in shares of Matrix Service during the fourth quarter valued at approximately $45,000. SG Americas Securities LLC lifted its position in Matrix Service by 18.4% in the 4th quarter. SG Americas Securities LLC now owns 11,123 shares of the company’s stock valued at $133,000 after acquiring an additional 1,731 shares in the last quarter. Virtu Financial LLC purchased a new position in Matrix Service in the 3rd quarter worth about $155,000. Wells Fargo & Company MN raised its stake in Matrix Service by 25.6% during the 4th quarter. Wells Fargo & Company MN now owns 16,569 shares of the company’s stock valued at $198,000 after buying an additional 3,382 shares during the last quarter. Finally, Saturna Capital Corp raised its stake in Matrix Service by 10.1% during the 4th quarter. Saturna Capital Corp now owns 32,694 shares of the company’s stock valued at $391,000 after buying an additional 3,000 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on MTRX shares. DA Davidson lifted 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 downgraded Matrix Service from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th.

Matrix Service Price Performance

Shares of NASDAQ:MTRX opened at $12.13 on Friday. The company has a market capitalization of $334.87 million, a P/E ratio of -9.94 and a beta of 1.01. The firm’s 50 day simple moving average is $11.79 and its two-hundred day simple moving average is $12.61. Matrix Service has a 1-year low of $8.61 and a 1-year high of $15.75.

Matrix Service (NASDAQ:MTRX) last issued its earnings results on Wednesday, February 5th. The company reported ($0.20) earnings per share (EPS) 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 anticipate that Matrix Service will post -0.26 earnings per share for the current fiscal year.

Matrix Service Company 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.