Insider Buying: Centuri (NYSE:CTRI) Major Shareholder Purchases 3,488,372 Shares of Stock

Centuri Holdings, Inc. (NYSE:CTRI) major shareholder Carl Icahn acquired 3,488,372 shares of Centuri stock in a transaction on Friday, November 14th. The stock was purchased at an average price of $21.50 per share, with a total value of $74,999,998.00. Following the purchase, the insider owned 14,336,044 shares of the company’s stock, valued at $308,224,946. The trade was a 32.16% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Centuri Stock Performance

NYSE:CTRI traded down $0.07 during trading hours on Friday, reaching $20.88. 3,019,893 shares of the company’s stock were exchanged, compared to its average volume of 1,131,982. Centuri Holdings, Inc. has a 1-year low of $14.45 and a 1-year high of $24.60. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 696.07, a P/E/G ratio of 1.55 and a beta of 1.08. The company has a 50-day moving average of $21.08 and a 200 day moving average of $20.89. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.54.

Centuri (NYSE:CTRI) last released 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). Centuri had a return on equity of 6.37% and a net margin of 0.09%.The company had revenue of $848.55 million for the quarter, compared to analysts’ expectations of $762.06 million. During the same period in the prior year, the business earned $0.06 EPS. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. Centuri has set its FY 2025 guidance at EPS. Research analysts anticipate that Centuri Holdings, Inc. will post 0.25 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG boosted its position in Centuri by 5.6% in the 1st quarter. Deutsche Bank AG now owns 9,143 shares of the company’s stock valued at $150,000 after buying an additional 484 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Centuri by 6.5% in the second quarter. JPMorgan Chase & Co. now owns 14,673 shares of the company’s stock worth $329,000 after acquiring an additional 890 shares in the last quarter. Amalgamated Bank boosted its holdings in Centuri by 288.1% in the third quarter. Amalgamated Bank now owns 2,278 shares of the company’s stock valued at $48,000 after purchasing an additional 1,691 shares during the last quarter. CWM LLC grew its stake in Centuri by 238.1% during the 2nd quarter. CWM LLC now owns 2,688 shares of the company’s stock valued at $60,000 after purchasing an additional 1,893 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Centuri by 10.1% during the 2nd quarter. Rhumbline Advisers now owns 24,188 shares of the company’s stock worth $543,000 after purchasing an additional 2,228 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have issued reports on CTRI shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Centuri in a research note on Wednesday, November 5th. JPMorgan Chase & Co. increased their price objective on Centuri from $20.00 to $22.00 and gave the stock an “underweight” rating in a research report on Thursday, November 6th. Finally, UBS Group boosted their price target on Centuri from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Centuri has a consensus rating of “Hold” and an average target price of $23.25.

About Centuri

Centuri Holdings, Inc operates as a utility infrastructure services company in North America. It offers gas utility services, including maintenance, repair, installation, and replacement services for natural gas local distribution utility companies with focus on the modernization of infrastructure. The company also provides electric utility services comprising design, maintenance and repair, upgrade, and expansion services for transmission and distribution infrastructure.