Fortress Investment Group LLC Makes New $8.77 Million Investment in Centuri Holdings, Inc. $CTRI

Fortress Investment Group LLC acquired a new position in shares of Centuri Holdings, Inc. (NYSE:CTRI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 414,467 shares of the company’s stock, valued at approximately $8,774,000. Centuri comprises about 1.2% of Fortress Investment Group LLC’s investment portfolio, making the stock its 17th biggest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in CTRI. Goldman Sachs Group Inc. increased its stake in Centuri by 164.9% in the first quarter. Goldman Sachs Group Inc. now owns 153,549 shares of the company’s stock valued at $2,517,000 after purchasing an additional 95,585 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Centuri in the 2nd quarter worth about $431,000. Geode Capital Management LLC boosted its stake in Centuri by 59.1% in the 2nd quarter. Geode Capital Management LLC now owns 527,856 shares of the company’s stock worth $11,847,000 after buying an additional 195,992 shares during the last quarter. Swiss National Bank grew its holdings in Centuri by 163.0% in the 2nd quarter. Swiss National Bank now owns 67,600 shares of the company’s stock valued at $1,517,000 after buying an additional 41,900 shares during the period. Finally, Magnetar Financial LLC purchased a new stake in Centuri in the 2nd quarter valued at about $216,000.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Centuri from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Weiss Ratings restated a “sell (d+)” rating on shares of Centuri in a report on Monday, December 29th. Finally, Cantor Fitzgerald upped their price target on shares of Centuri from $34.00 to $35.25 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Centuri has a consensus rating of “Hold” and a consensus target price of $28.81.

Centuri Stock Performance

Shares of NYSE:CTRI opened at $29.30 on Monday. The business has a 50-day moving average of $29.07 and a two-hundred day moving average of $24.67. The firm has a market capitalization of $2.95 billion, a PE ratio of 127.38, a P/E/G ratio of 1.18 and a beta of 0.62. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.78 and a quick ratio of 1.78. Centuri Holdings, Inc. has a 12 month low of $14.45 and a 12 month high of $32.38.

Centuri (NYSE:CTRI) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). Centuri had a net margin of 0.76% and a return on equity of 5.09%. The firm had revenue of $858.60 million during the quarter, compared to analyst estimates of $740.62 million. During the same period in the prior year, the firm earned $0.21 earnings per share. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. As a group, research analysts forecast that Centuri Holdings, Inc. will post 0.25 earnings per share for the current year.

Centuri Company Profile

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.