Bank of America Corp DE Lowers Holdings in Matrix Service (NASDAQ:MTRX)

Bank of America Corp DE trimmed its stake in shares of Matrix Service (NASDAQ:MTRX) by 11.4% during the 4th quarter, Holdings Channel reports. The fund owned 36,165 shares of the company’s stock after selling 4,665 shares during the quarter. Bank of America Corp DE’s holdings in Matrix Service were worth $433,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC increased its holdings in Matrix Service by 18.4% in the fourth quarter. SG Americas Securities LLC now owns 11,123 shares of the company’s stock valued at $133,000 after buying an additional 1,731 shares in the last quarter. Rhumbline Advisers grew its position in shares of Matrix Service by 2.7% during the 4th quarter. Rhumbline Advisers now owns 39,725 shares of the company’s stock valued at $475,000 after acquiring an additional 1,028 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Matrix Service by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 75,843 shares of the company’s stock valued at $908,000 after purchasing an additional 2,576 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Matrix Service by 15.8% in the 4th quarter. Victory Capital Management Inc. now owns 84,078 shares of the company’s stock worth $1,006,000 after purchasing an additional 11,491 shares during the period. Finally, Saturna Capital Corp raised its holdings in Matrix Service by 10.1% in the 4th quarter. Saturna Capital Corp now owns 32,694 shares of the company’s stock worth $391,000 after purchasing an additional 3,000 shares during the period. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th.

Matrix Service Price Performance

MTRX stock opened at $12.28 on Thursday. Matrix Service has a 1 year low of $8.61 and a 1 year high of $15.75. The firm has a market capitalization of $339.06 million, a PE ratio of -10.07 and a beta of 1.03. The business has a 50 day simple moving average of $11.80 and a 200-day simple moving average of $12.68.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07). The business had revenue of $200.16 million during the quarter, compared to analyst estimates of $215.06 million. Matrix Service had a negative net margin of 4.76% and a negative return on equity of 20.81%. On average, equities research analysts expect that Matrix Service will post -0.26 EPS 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.