Schwab Charles Investment Management Inc. increased its position in Matrix Service Co (NASDAQ:MTRX) by 15.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 260,260 shares of the oil and gas company’s stock after purchasing an additional 34,710 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Matrix Service were worth $3,956,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Mutual of America Capital Management LLC grew its stake in shares of Matrix Service by 1.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 78,497 shares of the oil and gas company’s stock valued at $734,000 after buying an additional 1,486 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Matrix Service by 8.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,408 shares of the oil and gas company’s stock valued at $219,000 after buying an additional 1,847 shares during the period. Alliancebernstein L.P. grew its stake in shares of Matrix Service by 5.6% in the 2nd quarter. Alliancebernstein L.P. now owns 39,800 shares of the oil and gas company’s stock valued at $372,000 after buying an additional 2,100 shares during the period. Voya Investment Management LLC grew its stake in shares of Matrix Service by 22.5% in the 2nd quarter. Voya Investment Management LLC now owns 16,344 shares of the oil and gas company’s stock valued at $153,000 after buying an additional 2,997 shares during the period. Finally, Municipal Employees Retirement System of Michigan grew its stake in shares of Matrix Service by 23.6% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 20,310 shares of the oil and gas company’s stock valued at $309,000 after buying an additional 3,880 shares during the period. Institutional investors own 88.28% of the company’s stock.

Several analysts have recently commented on the company. BidaskClub downgraded Matrix Service from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 6th. TheStreet upgraded Matrix Service from a “d+” rating to a “c-” rating in a research note on Monday, October 9th. Finally, Zacks Investment Research upgraded Matrix Service from a “sell” rating to a “hold” rating and set a $18.00 target price for the company in a research note on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $18.00.

Shares of Matrix Service Co (NASDAQ MTRX) opened at $19.95 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.74 and a quick ratio of 1.72. The company has a market capitalization of $531.62, a PE ratio of -90.68 and a beta of 0.85. Matrix Service Co has a 12 month low of $7.80 and a 12 month high of $23.10.

Matrix Service (NASDAQ:MTRX) last issued its earnings results on Tuesday, November 7th. The oil and gas company reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.08. The company had revenue of $269.91 million during the quarter, compared to the consensus estimate of $290.56 million. Matrix Service had a negative return on equity of 1.75% and a negative net margin of 0.51%. The firm’s revenue for the quarter was down 21.0% compared to the same quarter last year. During the same period last year, the business posted $0.35 EPS. analysts anticipate that Matrix Service Co will post 0.69 earnings per share for the current year.

In other Matrix Service news, CEO John R. Hewitt sold 5,000 shares of Matrix Service stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $17.66, for a total transaction of $88,300.00. Following the completion of the transaction, the chief executive officer now owns 283,529 shares in the company, valued at approximately $5,007,122.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is currently owned by insiders.

ILLEGAL ACTIVITY WARNING: “Schwab Charles Investment Management Inc. Raises Stake in Matrix Service Co (MTRX)” was published by Watch List News and is owned by of Watch List News. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this news story can be accessed at https://www.watchlistnews.com/schwab-charles-investment-management-inc-raises-stake-in-matrix-service-co-mtrx/1805397.html.

Matrix Service Company Profile

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 segments include Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.

Want to see what other hedge funds are holding MTRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Matrix Service Co (NASDAQ:MTRX).

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

Receive News & Ratings for Matrix Service Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matrix Service and related companies with MarketBeat.com's FREE daily email newsletter.