Centuri (NYSE:CTRI) Hits New 1-Year High – Time to Buy?

Centuri Holdings, Inc. (NYSE:CTRI)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $31.80 and last traded at $31.46, with a volume of 1967451 shares traded. The stock had previously closed at $30.44.

Analyst Ratings Changes

CTRI has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Centuri in a report on Monday, December 29th. Cantor Fitzgerald assumed coverage on Centuri in a research note on Friday, January 23rd. They set an “overweight” rating and a $34.00 price target for the company. JPMorgan Chase & Co. increased their price objective 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. Wells Fargo & Company raised their target price on shares of Centuri from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. Finally, UBS Group upped their price target on shares of Centuri from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Three 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 company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.40.

Centuri Stock Performance

The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 1,032.51, a price-to-earnings-growth ratio of 1.17 and a beta of 0.81. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.67 and a quick ratio of 1.67. The stock’s 50-day moving average is $27.25 and its 200-day moving average is $23.26.

Insider Activity at Centuri

In related news, CEO Christian Brown sold 7,108 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $24.51, for a total value of $174,217.08. Following the completion of the transaction, the chief executive officer directly owned 22,089 shares in the company, valued at approximately $541,401.39. This represents a 24.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Centuri

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in Centuri by 59.1% during the 2nd quarter. Geode Capital Management LLC now owns 527,856 shares of the company’s stock valued at $11,847,000 after purchasing an additional 195,992 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Centuri during the second quarter worth about $964,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Centuri in the third quarter worth about $1,611,000. Carronade Capital Management LP boosted its holdings in Centuri by 1,394.5% in the second quarter. Carronade Capital Management LP now owns 1,353,425 shares of the company’s stock valued at $30,371,000 after purchasing an additional 1,262,867 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in Centuri during the 2nd quarter valued at approximately $431,000.

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.