Centuri (NYSE:CTRI) Trading Up 8.4% – What’s Next?

Centuri Holdings, Inc. (NYSE:CTRI)’s stock price was up 8.4% during mid-day trading on Tuesday . The company traded as high as $23.43 and last traded at $24.0510. Approximately 534,528 shares changed hands during trading, a decline of 54% from the average daily volume of 1,160,969 shares. The stock had previously closed at $22.19.

Wall Street Analyst Weigh In

CTRI has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Centuri in a research report on Monday. JPMorgan Chase & Co. upped their target price on shares of Centuri from $20.00 to $22.00 and gave the company an “underweight” rating in a research note on Thursday, November 6th. Finally, UBS Group lifted their price target on shares of Centuri from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $23.25.

Centuri Stock Performance

The company has a market cap of $2.51 billion, a P/E ratio of 59.98, a P/E/G ratio of 1.73 and a beta of 0.95. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.54. The business has a fifty day simple moving average of $20.96 and a two-hundred day simple moving average of $21.11.

Centuri (NYSE:CTRI) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.13). Centuri had a net margin of 0.09% and a return on equity of 6.37%. The firm had revenue of $848.55 million for the quarter, compared to the consensus estimate of $762.06 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Centuri Holdings, Inc. will post 0.25 EPS for the current year.

Insider Buying and Selling

In other Centuri news, major shareholder Carl C. Icahn bought 3,488,372 shares of Centuri stock in a transaction on Friday, November 14th. The stock was acquired at an average cost of $21.50 per share, with a total value of $74,999,998.00. Following the completion of the acquisition, the insider owned 14,336,044 shares in the company, valued at approximately $308,224,946. This represents a 32.16% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Centuri

Large investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its position in shares of Centuri by 13,385.7% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,888 shares of the company’s stock valued at $40,000 after purchasing an additional 1,874 shares during the period. Amalgamated Bank boosted its holdings in Centuri by 288.1% in the 3rd quarter. Amalgamated Bank now owns 2,278 shares of the company’s stock worth $48,000 after buying an additional 1,691 shares during the period. CWM LLC increased its stake in Centuri by 238.1% in the 2nd quarter. CWM LLC now owns 2,688 shares of the company’s stock worth $60,000 after buying an additional 1,893 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Centuri by 121.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company’s stock worth $124,000 after buying an additional 3,037 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in Centuri during the third quarter valued at about $119,000.

Centuri Company Profile

Centuri Holdings, Inc operates as a utility infrastructure services company in North America. It offers gas utility services, including maintenance, repair, installation, and replacement services for natural gas local distribution utility companies with focus on the modernization of infrastructure. The company also provides electric utility services comprising design, maintenance and repair, upgrade, and expansion services for transmission and distribution infrastructure.