JPMorgan Chase & Co. Buys 19,518 Shares of Matrix Service (NASDAQ:MTRX)

JPMorgan Chase & Co. lifted its stake in shares of Matrix Service (NASDAQ:MTRX) by 21.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 110,181 shares of the company’s stock after acquiring an additional 19,518 shares during the period. JPMorgan Chase & Co. owned approximately 0.40% of Matrix Service worth $1,319,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. WINTON GROUP Ltd lifted its stake in Matrix Service by 355.1% during the fourth quarter. WINTON GROUP Ltd now owns 80,199 shares of the company’s stock worth $960,000 after purchasing an additional 62,578 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Matrix Service by 523.3% during the 4th quarter. American Century Companies Inc. now owns 294,889 shares of the company’s stock valued at $3,530,000 after buying an additional 247,578 shares in the last quarter. Royce & Associates LP lifted its position in Matrix Service by 4.0% in the 4th quarter. Royce & Associates LP now owns 898,122 shares of the company’s stock worth $10,751,000 after buying an additional 34,860 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Matrix Service by 66.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 276,943 shares of the company’s stock worth $3,315,000 after buying an additional 110,641 shares in the last quarter. Finally, Saturna Capital Corp grew its position in Matrix Service by 10.1% during the fourth quarter. Saturna Capital Corp now owns 32,694 shares of the company’s stock valued at $391,000 after acquiring an additional 3,000 shares during the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Matrix Service Price Performance

MTRX opened at $11.90 on Friday. The stock’s 50 day simple moving average is $11.93 and its 200 day simple moving average is $12.60. The firm has a market cap of $328.52 million, a price-to-earnings ratio of -9.75 and a beta of 1.01. Matrix Service has a 1 year low of $8.61 and a 1 year high of $15.75.

Matrix Service (NASDAQ:MTRX) last issued its earnings results on Wednesday, February 5th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.02. Matrix Service had a negative net margin of 4.76% and a negative return on equity of 20.81%. As a group, sell-side analysts anticipate that Matrix Service will post -0.26 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com cut shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. DA Davidson boosted their price target on shares of Matrix Service from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th.

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.