Matrix Service (NASDAQ:MTRX) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Matrix Service (NASDAQ:MTRX) by 66.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 276,943 shares of the company’s stock after purchasing an additional 110,641 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.00% of Matrix Service worth $3,315,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MTRX. JPMorgan Chase & Co. boosted its position in shares of Matrix Service by 204.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 90,663 shares of the company’s stock worth $1,045,000 after buying an additional 60,838 shares in the last quarter. Barclays PLC lifted its holdings in shares of Matrix Service by 90.8% in the third quarter. Barclays PLC now owns 53,435 shares of the company’s stock valued at $616,000 after purchasing an additional 25,434 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Matrix Service by 112.9% in the third quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company’s stock valued at $106,000 after purchasing an additional 4,860 shares during the last quarter. State Street Corp increased its stake in shares of Matrix Service by 17.0% during the 3rd quarter. State Street Corp now owns 384,173 shares of the company’s stock worth $4,430,000 after purchasing an additional 55,691 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of Matrix Service by 43.9% during the 3rd quarter. Jane Street Group LLC now owns 50,640 shares of the company’s stock worth $584,000 after purchasing an additional 15,444 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Matrix Service Stock Performance

Shares of MTRX opened at $12.94 on Tuesday. The company has a market capitalization of $357.23 million, a price-to-earnings ratio of -10.61 and a beta of 1.11. Matrix Service has a 1 year low of $8.61 and a 1 year high of $15.75. The company’s 50 day simple moving average is $13.61 and its 200 day simple moving average is $12.47.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.02. Matrix Service had a negative return on equity of 20.81% and a negative net margin of 4.76%. Equities analysts expect that Matrix Service will post -0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MTRX. StockNews.com downgraded Matrix Service from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. DA Davidson lifted their price objective on Matrix Service from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th.

Matrix Service 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.