Nuveen Asset Management LLC Cuts Stake in Matrix Service Company (NASDAQ:MTRX)

Nuveen Asset Management LLC reduced its position in Matrix Service Company (NASDAQ:MTRX) by 68.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 22,284 shares of the oil and gas company’s stock after selling 47,584 shares during the period. Nuveen Asset Management LLC owned about 0.08% of Matrix Service worth $368,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Amica Pension Fund Board of Trustees boosted its position in shares of Matrix Service by 12.9% in the first quarter. Amica Pension Fund Board of Trustees now owns 97,655 shares of the oil and gas company’s stock worth $1,611,000 after buying an additional 11,151 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Matrix Service by 8.6% in the first quarter. Great West Life Assurance Co. Can now owns 39,212 shares of the oil and gas company’s stock worth $645,000 after buying an additional 3,115 shares during the last quarter. KAMES CAPITAL plc boosted its position in shares of Matrix Service by 57.9% in the first quarter. KAMES CAPITAL plc now owns 49,964 shares of the oil and gas company’s stock worth $822,000 after buying an additional 18,315 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Matrix Service by 59.8% in the first quarter. Russell Investments Group Ltd. now owns 202,919 shares of the oil and gas company’s stock worth $3,348,000 after buying an additional 75,899 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its position in shares of Matrix Service by 0.3% in the first quarter. Nationwide Fund Advisors now owns 116,642 shares of the oil and gas company’s stock worth $1,925,000 after buying an additional 352 shares during the last quarter. Institutional investors own 84.95% of the company’s stock.

Shares of Matrix Service Company (MTRX) opened at 9.80 on Friday. Matrix Service Company has a 52-week low of $7.80 and a 52-week high of $23.45. The stock’s 50 day moving average is $9.81 and its 200 day moving average is $12.73. The stock has a market cap of $260.68 million, a price-to-earnings ratio of 26.42 and a beta of 0.75.

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A number of brokerages recently issued reports on MTRX. BidaskClub upgraded shares of Matrix Service from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Stephens restated a “hold” rating on shares of Matrix Service in a research note on Monday, May 15th. Zacks Investment Research cut shares of Matrix Service from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. ValuEngine cut shares of Matrix Service from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, TheStreet cut shares of Matrix Service from a “c-” rating to a “d+” rating in a research note on Wednesday, May 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $20.00.

About Matrix Service

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.

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

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