Irenic Capital Management LP Buys 174,771 Shares of Centuri Holdings, Inc. $CTRI

Irenic Capital Management LP increased its stake in Centuri Holdings, Inc. (NYSE:CTRI) by 97.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 354,771 shares of the company’s stock after purchasing an additional 174,771 shares during the period. Centuri accounts for 0.7% of Irenic Capital Management LP’s portfolio, making the stock its 26th largest holding. Irenic Capital Management LP owned about 0.35% of Centuri worth $10,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of CTRI. JPMorgan Chase & Co. lifted its stake in Centuri by 942.9% in the third quarter. JPMorgan Chase & Co. now owns 153,022 shares of the company’s stock valued at $3,239,000 after buying an additional 138,349 shares in the last quarter. UBS Group AG boosted its holdings in shares of Centuri by 59.9% in the fourth quarter. UBS Group AG now owns 1,025,061 shares of the company’s stock valued at $25,883,000 after buying an additional 384,054 shares during the period. William Blair Investment Management LLC bought a new stake in shares of Centuri during the fourth quarter worth $20,233,000. Verbena Value LP increased its position in shares of Centuri by 31.3% during the first quarter. Verbena Value LP now owns 1,771,457 shares of the company’s stock worth $51,744,000 after acquiring an additional 422,593 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of Centuri during the third quarter worth $4,992,000.

Centuri Trading Down 4.5%

NYSE CTRI opened at $26.08 on Wednesday. Centuri Holdings, Inc. has a 12 month low of $19.04 and a 12 month high of $42.99. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.82. The stock has a 50 day moving average of $29.09 and a 200-day moving average of $30.18. The company has a market cap of $2.63 billion, a PE ratio of 76.70, a PEG ratio of 0.90 and a beta of 1.06.

Centuri (NYSE:CTRI) last issued its earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. Centuri had a net margin of 0.98% and a return on equity of 5.64%. The business had revenue of $688.69 million for the quarter, compared to the consensus estimate of $618.87 million. During the same period in the previous year, the company earned ($0.12) earnings per share. The firm’s revenue for the quarter was up 31.5% on a year-over-year basis. On average, equities research analysts anticipate that Centuri Holdings, Inc. will post 0.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CTRI shares. JPMorgan Chase & Co. upped their target price on shares of Centuri from $26.00 to $29.00 and gave the stock an “underweight” rating in a research note on Friday, May 8th. Weiss Ratings restated a “sell (d+)” rating on shares of Centuri in a report on Wednesday, June 24th. Robert W. Baird set a $41.00 price target on Centuri in a report on Friday, May 8th. Wall Street Zen cut Centuri from a “buy” rating to a “hold” rating in a research report on Monday, July 20th. Finally, UBS Group increased their price objective on Centuri from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Centuri currently has a consensus rating of “Hold” and a consensus target price of $37.80.

Centuri Profile

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.