Connor Clark & Lunn Investment Management Ltd. Has $1.92 Million Stock Position in Matrix Service (NASDAQ:MTRX)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Matrix Service (NASDAQ:MTRX) by 44.8% during the third quarter, Holdings Channel.com reports. The firm owned 166,302 shares of the company’s stock after acquiring an additional 51,433 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Matrix Service were worth $1,917,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MTRX. Azarias Capital Management L.P. lifted its holdings in Matrix Service by 28.5% during the 2nd quarter. Azarias Capital Management L.P. now owns 1,273,193 shares of the company’s stock worth $12,643,000 after buying an additional 282,086 shares during the period. Vanguard Group Inc. boosted its holdings in Matrix Service by 1.0% in the first quarter. Vanguard Group Inc. now owns 1,223,781 shares of the company’s stock valued at $15,946,000 after acquiring an additional 11,587 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Matrix Service by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,172,616 shares of the company’s stock valued at $11,644,000 after acquiring an additional 3,215 shares during the last quarter. Royce & Associates LP raised its holdings in Matrix Service by 14.3% during the 3rd quarter. Royce & Associates LP now owns 863,262 shares of the company’s stock worth $9,953,000 after purchasing an additional 107,820 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Matrix Service by 12.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 575,428 shares of the company’s stock worth $5,714,000 after purchasing an additional 65,902 shares during the period. Institutional investors own 78.38% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. StockNews.com cut shares of Matrix Service from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. DA Davidson reiterated a “buy” rating and set a $18.00 price target on shares of Matrix Service in a report on Thursday, September 26th.

Matrix Service Stock Performance

Shares of MTRX opened at $13.45 on Tuesday. The firm has a market cap of $370.61 million, a PE ratio of -11.89 and a beta of 1.25. Matrix Service has a 52-week low of $8.61 and a 52-week high of $13.90. The business’s 50 day moving average price is $11.75 and its two-hundred day moving average price is $10.73.

Matrix Service (NASDAQ:MTRX) last issued its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.01). The company had revenue of $165.58 million for the quarter, compared to the consensus estimate of $183.90 million. Matrix Service had a negative return on equity of 19.56% and a negative net margin of 4.46%. During the same period in the prior year, the company earned ($0.21) earnings per share. Research analysts predict that Matrix Service will post -0.04 EPS for the current fiscal year.

Matrix Service Company 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.