Jacobs Levy Equity Management Inc. Sells 1,690 Shares of Matrix Service (NASDAQ:MTRX)

Jacobs Levy Equity Management Inc. trimmed its holdings in Matrix Service (NASDAQ:MTRX) by 1.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 169,607 shares of the company’s stock after selling 1,690 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.62% of Matrix Service worth $2,210,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Matrix Service by 1.0% during the first quarter. Vanguard Group Inc. now owns 1,223,781 shares of the company’s stock worth $15,946,000 after acquiring an additional 11,587 shares during the last quarter. Gendell Jeffrey L grew its position in shares of Matrix Service by 5.8% during the first quarter. Gendell Jeffrey L now owns 870,556 shares of the company’s stock valued at $11,343,000 after purchasing an additional 48,000 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Matrix Service by 11.8% in the first quarter. Acadian Asset Management LLC now owns 421,808 shares of the company’s stock worth $5,494,000 after purchasing an additional 44,419 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Matrix Service by 1.6% in the fourth quarter. Russell Investments Group Ltd. now owns 211,277 shares of the company’s stock worth $2,066,000 after buying an additional 3,285 shares in the last quarter. Finally, Essex Investment Management Co. LLC grew its holdings in Matrix Service by 1.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 205,561 shares of the company’s stock valued at $2,678,000 after buying an additional 3,157 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Matrix Service from a “buy” rating to a “hold” rating in a report on Friday, May 10th.

Matrix Service Stock Up 0.6 %

Shares of MTRX opened at $10.12 on Thursday. The business has a fifty day moving average of $10.34 and a 200 day moving average of $11.18. The company has a market cap of $276.38 million, a PE ratio of -13.32, a P/E/G ratio of 3.02 and a beta of 1.22. Matrix Service has a 52-week low of $6.02 and a 52-week high of $13.90.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.40). Matrix Service had a negative return on equity of 15.99% and a negative net margin of 2.81%. The firm had revenue of $166.01 million for the quarter, compared to analysts’ expectations of $200.58 million. As a group, research analysts anticipate that Matrix Service will post -1.13 earnings per share 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.