Centuri (NYSE:CTRI) Reaches New 12-Month High – Time to Buy?

Shares of Centuri Holdings, Inc. (NYSE:CTRI) hit a new 52-week high on Wednesday . The company traded as high as $29.01 and last traded at $28.4750, with a volume of 572698 shares traded. The stock had previously closed at $28.65.

Wall Street Analyst Weigh In

CTRI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on Centuri from $20.00 to $22.00 and gave the company an “underweight” rating in a report on Thursday, November 6th. UBS Group upped their price objective on shares of Centuri from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Wells Fargo & Company raised their target price on shares of Centuri from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Cantor Fitzgerald assumed coverage on shares of Centuri in a research report on Friday, January 23rd. They set an “overweight” rating and a $34.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Centuri in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $26.40.

Centuri Trading Down 0.5%

The stock’s fifty day moving average price is $25.79 and its 200 day moving average price is $22.62. The stock has a market cap of $2.77 billion, a P/E ratio of 926.84, a PEG ratio of 1.05 and a beta of 0.82. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.54.

Centuri (NYSE:CTRI) last issued 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). The business had revenue of $848.55 million for the quarter, compared to analysts’ expectations of $762.06 million. Centuri had a net margin of 0.09% and a return on equity of 6.37%. The company’s revenue was up 18.1% on a year-over-year basis. During the same period last year, the business earned $0.06 earnings per share. Equities research analysts expect that Centuri Holdings, Inc. will post 0.25 earnings per share for the current year.

Insider Buying and Selling

In other Centuri news, CEO Christian Brown sold 7,108 shares of Centuri stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $24.51, for a total transaction of $174,217.08. Following the completion of the transaction, the chief executive officer owned 22,089 shares in the company, valued at approximately $541,401.39. The trade was a 24.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Carl C. Icahn bought 3,488,372 shares of the company’s stock in a transaction on Friday, November 14th. The stock was bought at an average cost of $21.50 per share, for a total transaction of $74,999,998.00. Following the completion of the acquisition, the insider directly owned 14,336,044 shares of the company’s stock, valued at approximately $308,224,946. This represents a 32.16% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Centuri

Several large investors have recently modified their holdings of the stock. UBS Group AG boosted its stake in Centuri by 59.9% in the 4th quarter. UBS Group AG now owns 1,025,061 shares of the company’s stock worth $25,883,000 after purchasing an additional 384,054 shares in the last quarter. Arizona State Retirement System increased its stake in Centuri by 5.9% during the 4th quarter. Arizona State Retirement System now owns 25,041 shares of the company’s stock valued at $632,000 after purchasing an additional 1,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Centuri by 33.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,200 shares of the company’s stock worth $460,000 after buying an additional 4,600 shares during the last quarter. CWM LLC lifted its stake in shares of Centuri by 59.7% in the fourth quarter. CWM LLC now owns 4,045 shares of the company’s stock worth $102,000 after buying an additional 1,512 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Centuri by 38.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 71,243 shares of the company’s stock valued at $1,799,000 after buying an additional 19,810 shares during the last quarter.

About Centuri

Centuri Construction Group, Inc (NYSE: CTRI) is a heavy civil contractor specializing in water and wastewater infrastructure projects. The company delivers end-to-end services encompassing design-build, engineering, procurement and construction for water transmission mains, wastewater force mains, treatment facilities, pump and lift stations, and stormwater management systems.

Centuri’s core offerings include pipeline installation and rehabilitation, civil sitework, earthwork, structural concrete and slope protection.