Matrix Service (NASDAQ:MTRX) Stock Holdings Lowered by Franklin Resources Inc.

Franklin Resources Inc. cut its position in Matrix Service (NASDAQ:MTRX) by 28.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 247,461 shares of the company’s stock after selling 96,019 shares during the quarter. Franklin Resources Inc. owned about 0.90% of Matrix Service worth $2,821,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP bought a new stake in shares of Matrix Service during the third quarter valued at approximately $53,000. Quest Partners LLC bought a new stake in Matrix Service during the 2nd quarter valued at $83,000. BNP Paribas Financial Markets boosted its position in Matrix Service by 112.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company’s stock worth $106,000 after acquiring an additional 4,860 shares during the period. SG Americas Securities LLC bought a new position in shares of Matrix Service in the third quarter worth $108,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Matrix Service during the second quarter valued at $110,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MTRX has been the subject of several research analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Matrix Service in a report on Thursday, September 26th. StockNews.com raised shares of Matrix Service from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th.

Matrix Service Trading Up 0.6 %

NASDAQ:MTRX opened at $12.10 on Thursday. The company has a 50-day moving average of $12.47 and a 200-day moving average of $10.98. The firm has a market cap of $333.42 million, a price-to-earnings ratio of -10.80 and a beta of 1.27. Matrix Service has a twelve month low of $8.61 and a twelve month high of $13.90.

Matrix Service (NASDAQ:MTRX) last issued its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01). The business had revenue of $165.58 million for the quarter, compared to the consensus estimate of $183.90 million. Matrix Service had a negative return on equity of 19.56% and a negative net margin of 4.46%. During the same quarter in the previous year, the business posted ($0.21) earnings per share. On average, research analysts forecast 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.