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

Centuri Holdings, Inc. (NYSE:CTRI) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $32.96 and last traded at $32.0540, with a volume of 76894 shares. The stock had previously closed at $30.67.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Centuri in a research note on Friday, March 27th. Cantor Fitzgerald raised their price target on shares of Centuri from $35.25 to $37.40 and gave the stock an “overweight” rating in a research note on Wednesday, March 25th. Finally, Wells Fargo & Company cut their price target on shares of Centuri from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $28.85.

Centuri Trading Up 5.2%

The stock has a market cap of $3.25 billion, a P/E ratio of 140.04, a PEG ratio of 1.20 and a beta of 0.73. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.78 and a quick ratio of 1.78. The business’s 50 day simple moving average is $29.91 and its 200 day simple moving average is $25.62.

Centuri (NYSE:CTRI) last posted its earnings results on Wednesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). Centuri had a net margin of 0.76% and a return on equity of 5.09%. The firm had revenue of $858.60 million during the quarter, compared to the consensus estimate of $740.62 million. During the same quarter last year, the firm posted $0.21 EPS. The business’s revenue was up 19.7% on a year-over-year basis. On average, analysts expect that Centuri Holdings, Inc. will post 0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Icahn Carl C raised its stake in shares of Centuri by 32.2% in the fourth quarter. Icahn Carl C now owns 14,336,044 shares of the company’s stock valued at $361,985,000 after acquiring an additional 3,488,372 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Centuri by 126.0% in the third quarter. Vanguard Group Inc. now owns 8,059,743 shares of the company’s stock valued at $170,625,000 after acquiring an additional 4,493,955 shares during the last quarter. Hill City Capital LP raised its stake in shares of Centuri by 5.2% in the fourth quarter. Hill City Capital LP now owns 4,030,000 shares of the company’s stock valued at $101,758,000 after acquiring an additional 200,000 shares during the last quarter. Carronade Capital Management LP raised its stake in shares of Centuri by 30.7% in the fourth quarter. Carronade Capital Management LP now owns 3,988,664 shares of the company’s stock valued at $100,714,000 after acquiring an additional 935,847 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Centuri in the third quarter valued at approximately $78,222,000.

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.