Conversant Capital LLC Has $24.98 Million Position in Centuri Holdings, Inc. $CTRI

Conversant Capital LLC reduced its position in Centuri Holdings, Inc. (NYSE:CTRI) by 38.9% in the first quarter, Holdings Channel.com reports. The fund owned 855,000 shares of the company’s stock after selling 545,000 shares during the period. Centuri makes up about 3.4% of Conversant Capital LLC’s investment portfolio, making the stock its 6th largest position. Conversant Capital LLC’s holdings in Centuri were worth $24,975,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Centuri by 8.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 283,212 shares of the company’s stock worth $8,273,000 after purchasing an additional 21,722 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Centuri by 11.5% during the first quarter. Renaissance Technologies LLC now owns 934,300 shares of the company’s stock valued at $27,291,000 after purchasing an additional 96,600 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Centuri by 75.1% during the first quarter. Sei Investments Co. now owns 111,437 shares of the company’s stock valued at $3,255,000 after purchasing an additional 47,809 shares in the last quarter. Group One Trading LLC boosted its position in shares of Centuri by 4,144.4% during the first quarter. Group One Trading LLC now owns 11,842 shares of the company’s stock valued at $346,000 after buying an additional 11,563 shares during the last quarter. Finally, State of Wyoming boosted its position in shares of Centuri by 5.0% during the first quarter. State of Wyoming now owns 15,880 shares of the company’s stock valued at $464,000 after buying an additional 752 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have weighed in on CTRI. Wells Fargo & Company boosted their target price on Centuri from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Cantor Fitzgerald raised their price target on shares of Centuri from $37.40 to $46.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Wall Street Zen lowered shares of Centuri from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. JPMorgan Chase & Co. lifted their price target on shares of Centuri from $26.00 to $29.00 and gave the stock an “underweight” rating in a research note on Friday, May 8th. Finally, UBS Group increased their price objective on shares of Centuri from $33.00 to $36.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Two 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 company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $37.80.

Centuri Stock Performance

Shares of CTRI opened at $27.64 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.88 and a quick ratio of 1.88. Centuri Holdings, Inc. has a one year low of $19.04 and a one year high of $42.99. The firm has a market capitalization of $2.79 billion, a P/E ratio of 81.28, a PEG ratio of 0.91 and a beta of 1.06. The business has a fifty day moving average of $29.20 and a 200 day moving average of $30.15.

Centuri (NYSE:CTRI) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. Centuri had a return on equity of 5.64% and a net margin of 0.98%.The company had revenue of $688.69 million during the quarter, compared to analysts’ expectations of $618.87 million. During the same quarter in the prior year, the business earned ($0.12) earnings per share. Centuri’s revenue for the quarter was up 31.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Centuri Holdings, Inc. will post 0.61 EPS 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.