Matrix Service (NASDAQ:MTRX) Stake Lifted by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in shares of Matrix Service (NASDAQ:MTRX) by 4.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 72,587 shares of the company’s stock after acquiring an additional 2,987 shares during the period. Victory Capital Management Inc.’s holdings in Matrix Service were worth $837,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Quest Partners LLC bought a new position in Matrix Service during the 2nd quarter worth $83,000. SG Americas Securities LLC acquired a new position in Matrix Service during the 3rd quarter worth $108,000. Net Worth Advisory Group acquired a new position in Matrix Service during the 3rd quarter worth $125,000. The Manufacturers Life Insurance Company acquired a new position in Matrix Service during the 2nd quarter worth $110,000. Finally, XTX Topco Ltd boosted its position in Matrix Service by 66.3% during the 2nd quarter. XTX Topco Ltd now owns 20,932 shares of the company’s stock worth $208,000 after acquiring an additional 8,344 shares during the period. 78.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MTRX. DA Davidson reiterated a “buy” rating and set a $18.00 price target on shares of Matrix Service in a research report on Thursday, September 26th. StockNews.com upgraded Matrix Service from a “hold” rating to a “buy” rating in a report on Wednesday.

Matrix Service Price Performance

Shares of Matrix Service stock opened at $13.30 on Thursday. The firm has a market cap of $366.55 million, a price-to-earnings ratio of -11.87 and a beta of 1.25. The business has a fifty day simple moving average of $11.92 and a 200-day simple moving average of $10.79. Matrix Service has a fifty-two week low of $8.61 and a fifty-two week high of $13.90.

Matrix Service (NASDAQ:MTRX) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.01). Matrix Service had a negative net margin of 4.46% and a negative return on equity of 19.56%. The firm had revenue of $165.58 million during the quarter, compared to analyst estimates of $183.90 million. During the same quarter last year, the company earned ($0.21) EPS. Analysts anticipate that Matrix Service will post -0.04 earnings per share 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.