Matrix Service (MTRX) Position Increased by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. raised its position in Matrix Service (NASDAQ:MTRX) by 123.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 282,390 shares of the oil and gas company’s stock after purchasing an additional 156,210 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Matrix Service were worth $5,027,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Stone Ridge Asset Management LLC bought a new position in Matrix Service in the 4th quarter worth about $572,000. Guggenheim Capital LLC grew its stake in Matrix Service by 4.2% in the 4th quarter. Guggenheim Capital LLC now owns 123,282 shares of the oil and gas company’s stock worth $2,194,000 after acquiring an additional 4,985 shares in the last quarter. Brandywine Global Investment Management LLC bought a new position in Matrix Service in the 4th quarter worth about $182,000. Geode Capital Management LLC grew its stake in Matrix Service by 6.2% in the 4th quarter. Geode Capital Management LLC now owns 260,193 shares of the oil and gas company’s stock worth $4,630,000 after acquiring an additional 15,195 shares in the last quarter. Finally, Spark Investment Management LLC grew its stake in Matrix Service by 168.0% in the 4th quarter. Spark Investment Management LLC now owns 92,200 shares of the oil and gas company’s stock worth $1,641,000 after acquiring an additional 57,800 shares in the last quarter. Institutional investors and hedge funds own 91.49% of the company’s stock.

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Shares of MTRX stock opened at $14.50 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.96 and a current ratio of 1.99. The stock has a market capitalization of $392.87, a price-to-earnings ratio of -1,450.00 and a beta of 0.87. Matrix Service has a one year low of $7.80 and a one year high of $20.25.

Matrix Service (NASDAQ:MTRX) last issued its earnings results on Wednesday, February 7th. The oil and gas company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.01. The business had revenue of $282.90 million for the quarter, compared to the consensus estimate of $298.43 million. Matrix Service had a negative net margin of 0.59% and a negative return on equity of 1.97%. The company’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 EPS. equities analysts forecast that Matrix Service will post 0.65 EPS for the current fiscal year.

A number of brokerages have commented on MTRX. BidaskClub downgraded shares of Matrix Service from a “hold” rating to a “sell” rating in a research note on Wednesday, February 21st. ValuEngine upgraded shares of Matrix Service from a “sell” rating to a “hold” rating in a research note on Tuesday, April 3rd. Finally, Zacks Investment Research downgraded shares of Matrix Service from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $18.00.

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About Matrix Service

Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, and mining and minerals markets in the United States, Canada, and internationally. The company's Electrical Infrastructure segment offers construction and maintenance services to various power generation facilities, such as combined cycle plants, natural gas fired power stations, and renewable energy installations; and high voltage services comprising the construction of new substations, upgrading existing substations, short-run transmission line installations, distribution upgrades and maintenance, and storm restoration services to investor owned utilities.

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Institutional Ownership by Quarter for Matrix Service (NASDAQ:MTRX)

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