Boston Partners Raises Stake in Matrix Service Company $MTRX

Boston Partners increased its stake in Matrix Service Company (NASDAQ:MTRX) by 21.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 598,081 shares of the company’s stock after purchasing an additional 105,309 shares during the quarter. Boston Partners owned 2.17% of Matrix Service worth $8,082,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MTRX. Acadian Asset Management LLC grew its position in Matrix Service by 15.8% during the second quarter. Acadian Asset Management LLC now owns 280,394 shares of the company’s stock worth $3,785,000 after buying an additional 38,233 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Matrix Service by 9.3% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 286,186 shares of the company’s stock worth $3,866,000 after acquiring an additional 24,330 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Matrix Service by 52.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 30,515 shares of the company’s stock worth $412,000 after acquiring an additional 10,535 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Matrix Service by 60.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 509,194 shares of the company’s stock worth $6,879,000 after acquiring an additional 192,000 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Matrix Service by 15.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 467,572 shares of the company’s stock valued at $6,317,000 after purchasing an additional 64,187 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Insider Transactions at Matrix Service

In other news, Director John D. Chandler acquired 2,300 shares of Matrix Service stock in a transaction that occurred on Tuesday, September 16th. The shares were acquired at an average price of $12.74 per share, with a total value of $29,302.00. Following the completion of the purchase, the director owned 78,053 shares of the company’s stock, valued at approximately $994,395.22. This represents a 3.04% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shawn P. Payne sold 8,250 shares of Matrix Service stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $12.58, for a total transaction of $103,785.00. Following the completion of the sale, the insider directly owned 110,429 shares of the company’s stock, valued at $1,389,196.82. The trade was a 6.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MTRX shares. DA Davidson reissued a “buy” rating and issued a $17.00 target price on shares of Matrix Service in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Matrix Service in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Matrix Service currently has an average rating of “Hold” and a consensus price target of $17.00.

Matrix Service Stock Down 4.1%

NASDAQ MTRX opened at $11.72 on Friday. Matrix Service Company has a fifty-two week low of $9.33 and a fifty-two week high of $16.10. The business has a fifty day moving average of $13.31 and a 200-day moving average of $13.50. The stock has a market cap of $328.97 million, a price-to-earnings ratio of -11.16, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. Matrix Service had a negative return on equity of 17.21% and a negative net margin of 3.83%.The firm had revenue of $211.88 million during the quarter, compared to analysts’ expectations of $206.66 million. Matrix Service has set its FY 2026 guidance at EPS. As a group, analysts anticipate that Matrix Service Company will post -0.26 EPS for the current year.

About Matrix Service

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.