BlackRock Fund Advisors increased its position in Matrix Service Co. (NASDAQ:MTRX) by 0.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,828,537 shares of the company’s stock after buying an additional 9,072 shares during the period. BlackRock Fund Advisors owned approximately 6.79% of Matrix Service worth $32,365,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Glenmede Trust Co. NA increased its position in shares of Matrix Service by 8.8% in the first quarter. Glenmede Trust Co. NA now owns 57,208 shares of the company’s stock worth $1,012,000 after buying an additional 4,645 shares during the last quarter. Thomson Horstmann & Bryant Inc. increased its position in shares of Matrix Service by 2.5% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 320,362 shares of the company’s stock worth $5,670,000 after buying an additional 7,886 shares during the last quarter. Norges Bank bought a new position in shares of Matrix Service during the fourth quarter worth approximately $9,046,000. Westwood Holdings Group Inc. increased its position in shares of Matrix Service by 20.7% in the fourth quarter. Westwood Holdings Group Inc. now owns 208,177 shares of the company’s stock worth $4,276,000 after buying an additional 35,643 shares during the last quarter. Finally, Waddell & Reed Financial Inc. bought a new position in shares of Matrix Service during the fourth quarter worth approximately $2,368,000.
Shares of Matrix Service Co. (NASDAQ:MTRX) traded up 0.30% during mid-day trading on Thursday, hitting $16.60. The stock had a trading volume of 76,405 shares. The firm’s 50-day moving average price is $16.59 and its 200 day moving average price is $17.31. The stock has a market cap of $441.81 million and a price-to-earnings ratio of 14.69. Matrix Service Co. has a 12-month low of $14.07 and a 12-month high of $26.22.
A number of brokerages recently commented on MTRX. Zacks Investment Research upgraded Matrix Service from a “sell” rating to a “hold” rating in a research note on Wednesday, April 13th. Barclays PLC reduced their price target on Matrix Service from $41.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, June 6th. Finally, Avondale Partners upgraded Matrix Service from a “market perform” rating to an “outperform” rating and set a $20.00 price target for the company in a research report on Friday, May 6th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Matrix Service has a consensus rating of “Buy” and a consensus price target of $25.63.
In other news, Director Jim W. Mogg acquired 10,000 shares of Matrix Service stock in a transaction on Thursday, May 12th. The stock was bought at an average price of $15.15 per share, for a total transaction of $151,500.00. Following the transaction, the director now owns 21,990 shares of the company’s stock, valued at $333,148.50. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.
Matrix Service Company provides engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company’s Electrical Infrastructure segment primarily provides construction and maintenance services to a range of power generation facilities, such as combined cycle plants and renewable energy installations.
