Centuri (NYSE:CTRI) Stock: Insider Carl Icahn Sells 324,700 Shares

Centuri Holdings, Inc. (NYSE:CTRI) major shareholder Carl Icahn sold 324,700 shares of Centuri stock in a transaction dated Thursday, November 12th. The shares were sold at an average price of $17.50, for a total value of $5,682,250.00. Following the transaction, the insider directly owned 12,835,611 shares of the company’s stock, valued at $224,623,192.50. The trade was a 2.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Centuri Stock Performance

Shares of CTRI opened at $21.81 on Friday. Centuri Holdings, Inc. has a 12-month low of $18.50 and a 12-month high of $42.99. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.88. The company has a market cap of $2.20 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 0.77 and a beta of 0.94. The stock has a 50-day moving average price of $20.50 and a 200-day moving average price of $26.95.

Centuri (NYSE:CTRI) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.19. Centuri had a return on equity of 8.26% and a net margin of 1.45%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the business earned $0.19 EPS. The company’s revenue for the quarter was up 40.2% compared to the same quarter last year. As a group, equities analysts forecast that Centuri Holdings, Inc. will post 0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC bought a new stake in shares of Centuri in the second quarter worth approximately $33,000. Fifth Third Bancorp lifted its position in Centuri by 99.4% during the third quarter. Fifth Third Bancorp now owns 1,340 shares of the company’s stock valued at $27,000 after purchasing an additional 668 shares during the period. KBC Group NV purchased a new stake in Centuri in the first quarter worth approximately $67,000. Sterling Capital Management LLC boosted its holdings in Centuri by 847.9% in the third quarter. Sterling Capital Management LLC now owns 2,948 shares of the company’s stock worth $59,000 after purchasing an additional 2,637 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in Centuri by 52.5% in the third quarter. Covestor Ltd now owns 2,967 shares of the company’s stock worth $59,000 after purchasing an additional 1,021 shares during the last quarter.

Key Headlines Impacting Centuri

These are some of the CTRI headlines that stood out recently:

• Positive Sentiment: Director Anne L. Mariucci bought 4,545 shares for about $100,000, increasing her stake by 5.07%. The purchase may signal confidence, though it is small relative to Icahn’s sales. SEC filing
• Neutral Sentiment: Recent operating results provide a positive fundamental backdrop: Centuri reported quarterly EPS of $0.42 versus a $0.23 consensus estimate, while revenue rose 40.2% year over year. The article also reports a consensus analyst rating of “Hold.”
• Negative Sentiment: Icahn sold about 1.5 million shares across transactions from November 9–12, including 324,700 shares on November 12. Although he still held more than 12 million shares afterward, the repeated selling—at prices ranging from $17.50 to $21—may raise concerns about near-term supply and confidence. Insider trading report

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Centuri from $23.00 to $22.00 and set an “underweight” rating for the company in a research note on Monday, October 19th. Cantor Fitzgerald boosted their price target on Centuri from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Robert W. Baird lowered their price target on Centuri from $33.00 to $26.00 and set an “outperform” rating for the company in a research report on Tuesday, September 29th. Weiss Ratings upgraded Centuri from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Finally, Wall Street Zen cut Centuri from a “buy” rating to a “hold” rating in a report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $27.50.

Centuri Company Profile

Centuri Holdings, Inc. is a North American utility infrastructure services company that builds, maintains and upgrades systems used to deliver natural gas and electricity. Its work includes installing and replacing underground gas pipelines, constructing and maintaining electric distribution infrastructure, and providing related inspection, repair and emergency-response services. The company serves regulated utilities and other energy customers across the United States and Canada. Its operating businesses include NPL Construction, Neuco, Linetec Services and Riggs Distler, which provide capabilities spanning gas distribution, electric utility construction and broader infrastructure work.