Centuri (NYSE:CTRI) Hits New 12-Month High – Here’s What Happened

Centuri Holdings, Inc. (NYSE:CTRI) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $24.62 and last traded at $24.5850, with a volume of 2128934 shares traded. The stock had previously closed at $24.46.

Analysts Set New Price Targets

Several equities analysts have issued reports on CTRI shares. Weiss Ratings restated a “sell (d+)” rating on shares of Centuri in a research report on Monday. JPMorgan Chase & Co. raised their price objective on shares of 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 upped their price objective on shares of Centuri from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $23.25.

Centuri Price Performance

The business’s 50-day simple moving average is $20.80 and its two-hundred day simple moving average is $21.06. The stock has a market cap of $2.45 billion, a P/E ratio of 819.77, a price-to-earnings-growth ratio of 1.56 and a beta of 0.95. 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 issued its earnings results on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.13). The business had revenue of $848.55 million during the quarter, compared to analysts’ expectations of $762.06 million. Centuri had a return on equity of 6.37% and a net margin of 0.09%.Centuri’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 EPS. Sell-side analysts expect that Centuri Holdings, Inc. will post 0.25 EPS for the current year.

Insider Transactions at Centuri

In other news, major shareholder Carl C. Icahn acquired 3,488,372 shares of the stock in a transaction on Friday, November 14th. The stock was acquired at an average price of $21.50 per share, with a total value of $74,999,998.00. Following the completion of the transaction, the insider owned 14,336,044 shares of the company’s stock, valued at $308,224,946. This represents a 32.16% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Penn Capital Management Company LLC lifted its stake in Centuri by 378.3% in the 3rd quarter. Penn Capital Management Company LLC now owns 429,571 shares of the company’s stock worth $9,100,000 after purchasing an additional 339,760 shares in the last quarter. Maven Securities LTD purchased a new stake in Centuri during the third quarter valued at $1,058,000. Caitong International Asset Management Co. Ltd lifted its position in Centuri by 13,385.7% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,888 shares of the company’s stock valued at $40,000 after purchasing an additional 1,874 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in shares of Centuri in the 3rd quarter worth $2,878,000. Finally, XTX Topco Ltd purchased a new stake in shares of Centuri during the 3rd quarter valued at about $811,000.

Centuri Company Profile

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.