Irenic Capital Management LP Invests $4.55 Million in Centuri Holdings, Inc. $CTRI

Irenic Capital Management LP acquired a new position in shares of Centuri Holdings, Inc. (NYSE:CTRI) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 180,000 shares of the company’s stock, valued at approximately $4,545,000. Centuri makes up 0.3% of Irenic Capital Management LP’s investment portfolio, making the stock its 25th largest holding. Irenic Capital Management LP owned 0.18% of Centuri at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its stake in shares of Centuri by 13,385.7% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,888 shares of the company’s stock worth $40,000 after purchasing an additional 1,874 shares in the last quarter. CWM LLC raised its stake in shares of Centuri by 59.7% during the 4th quarter. CWM LLC now owns 4,045 shares of the company’s stock worth $102,000 after purchasing an additional 1,512 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Centuri by 121.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company’s stock worth $124,000 after purchasing an additional 3,037 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Centuri by 251.0% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 6,083 shares of the company’s stock worth $129,000 after purchasing an additional 4,350 shares in the last quarter. Finally, Inspire Advisors LLC bought a new stake in shares of Centuri during the 4th quarter worth approximately $220,000.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Centuri in a report on Friday, March 27th. Robert W. Baird set a $41.00 price target on Centuri in a research report on Friday, May 8th. Wells Fargo & Company boosted their price target on Centuri from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Cantor Fitzgerald boosted their price target on Centuri from $37.40 to $46.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Finally, UBS Group boosted their price target on Centuri from $33.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $37.80.

Centuri Price Performance

Shares of NYSE CTRI opened at $29.98 on Thursday. The business’s 50 day moving average price is $32.35 and its two-hundred day moving average price is $29.66. The company has a market cap of $3.03 billion, a PE ratio of 88.18, a price-to-earnings-growth ratio of 1.07 and a beta of 1.06. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.82. Centuri Holdings, Inc. has a twelve month low of $19.04 and a twelve month high of $42.99.

Centuri (NYSE:CTRI) last announced its quarterly 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 return on equity of 5.64% and a net margin of 0.98%.The firm had revenue of $688.69 million for the quarter, compared to the consensus estimate of $618.87 million. During the same quarter in the previous year, the business earned ($0.12) earnings per share. The business’s revenue was up 31.5% compared to the same quarter last year. On average, analysts predict that Centuri Holdings, Inc. will post 0.59 EPS for the current year.

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.