Royal Bank of Canada Purchases 71,841 Shares of Matrix Service Company $MTRX

Royal Bank of Canada increased its position in shares of Matrix Service Company (NASDAQ:MTRX) by 249.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,697 shares of the company’s stock after buying an additional 71,841 shares during the period. Royal Bank of Canada owned 0.36% of Matrix Service worth $1,156,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in shares of Matrix Service by 601.5% in the 1st quarter. AQR Capital Management LLC now owns 291,804 shares of the company’s stock valued at $3,627,000 after acquiring an additional 250,206 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Matrix Service by 53.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 175,736 shares of the company’s stock valued at $2,184,000 after purchasing an additional 61,246 shares during the period. Jane Street Group LLC raised its holdings in shares of Matrix Service by 89.8% in the 1st quarter. Jane Street Group LLC now owns 34,542 shares of the company’s stock valued at $429,000 after purchasing an additional 16,343 shares during the period. Creative Planning acquired a new stake in Matrix Service in the 2nd quarter valued at about $176,000. Finally, JPMorgan Chase & Co. lifted its stake in Matrix Service by 288.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 212,921 shares of the company’s stock valued at $2,877,000 after purchasing an additional 158,104 shares during the last quarter. 78.38% of the stock is owned by institutional investors.

Matrix Service Stock Down 2.2%

Shares of NASDAQ:MTRX opened at $11.18 on Friday. Matrix Service Company has a 12-month low of $9.88 and a 12-month high of $15.97. The business has a 50 day moving average of $12.54 and a 200-day moving average of $12.19. The stock has a market cap of $314.49 million, a PE ratio of -21.09, a P/E/G ratio of 0.91 and a beta of 1.00.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Matrix Service in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Matrix Service Company Profile

Matrix Service Company (NASDAQ: MTRX) is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.

The company’s service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.