Connor Clark & Lunn Investment Management Ltd. Boosts Stake in Matrix Service Company $MTRX

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Matrix Service Company (NASDAQ:MTRX) by 9.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 286,186 shares of the company’s stock after purchasing an additional 24,330 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 1.04% of Matrix Service worth $3,866,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group boosted its stake in Matrix Service by 2,026.3% during the first quarter. Brooklyn Investment Group now owns 3,402 shares of the company’s stock worth $42,000 after buying an additional 3,242 shares during the period. Quantbot Technologies LP purchased a new position in shares of Matrix Service during the 1st quarter worth approximately $73,000. CWM LLC increased its holdings in Matrix Service by 138.4% in the 1st quarter. CWM LLC now owns 10,002 shares of the company’s stock valued at $124,000 after purchasing an additional 5,806 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Matrix Service in the second quarter valued at approximately $183,000. Finally, Almanack Investment Partners LLC. acquired a new position in Matrix Service during the second quarter worth $204,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Matrix Service Price Performance

MTRX stock opened at $11.84 on Friday. The business’s 50-day moving average is $13.26 and its two-hundred day moving average is $13.50. The firm has a market capitalization of $333 million, a P/E ratio of -11.28, a P/E/G ratio of 1.23 and a beta of 1.06. Matrix Service Company has a 1 year low of $9.33 and a 1 year high of $16.10.

Matrix Service (NASDAQ:MTRX) last released its earnings results on Wednesday, November 5th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. Matrix Service had a negative net margin of 3.83% and a negative return on equity of 17.21%. The firm had revenue of $211.88 million for the quarter, compared to analyst estimates of $206.66 million. Matrix Service has set its FY 2026 guidance at EPS. On average, analysts expect that Matrix Service Company will post -0.26 EPS for the current year.

Insider Buying and Selling at Matrix Service

In related news, insider Shawn P. Payne sold 8,250 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $12.58, for a total transaction of $103,785.00. Following the completion of the transaction, the insider owned 110,429 shares in the company, valued at approximately $1,389,196.82. The trade was a 6.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John D. Chandler purchased 2,300 shares of the firm’s stock in a transaction on Tuesday, September 16th. The shares were acquired at an average cost of $12.74 per share, with a total value of $29,302.00. Following the completion of the acquisition, the director directly owned 78,053 shares in the company, valued at $994,395.22. The trade was a 3.04% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 4.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MTRX shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Matrix Service in a report on Wednesday, October 8th. DA Davidson reiterated a “buy” rating and set a $17.00 price target on shares of Matrix Service in a research note on Tuesday. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Matrix Service currently has a consensus rating of “Hold” and a consensus target price of $17.00.

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.